Novogratz’s Galaxy Digital Is Raising $100 Million Venture Fund

Michael Novogratz’s Galaxy Digital is in the early stages of raising a new venture fund, with most of its targeted $100 million expected to come from outside investors.

Galaxy Ventures has long invested the company’s own money into various crypto startups, focused on areas such as infrastructure, decentralized finance and payments. But last year, the company decided to start Galaxy Ventures Fund I and to open it to outside investors, according to a person familiar with the decision who asked for anonymity because the matter hasn’t been made public. Galaxy Ventures will continue to manage its existing portfolio while ...