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First Mover Americas: Galaxy Digital to Raise $100M for New Fund

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Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

The investments giant is putting together a $100 million fund that will invest in early-stage crypto companies, according to an investor email shared with CoinDesk. Galaxy moved its venture capital franchise into its asset management business in 2023. The Galaxy Ventures Fund I fund aims to invest in as many as 30 startups over the next three years, with checks starting at $1 million. It will target financial applications, software infrastructure and protocols built on crypto, the email said.

The firm evaluated 46 L2 networks across five key areas and predicted “thousands” of rollups will eventually emerge. Arbitrum is currently the biggest ecosystem, with over $18 billion in locked tokens,, capturing the majority of $36 billion locked across 46 networks. VanEck analysts Patrick Bush and Matthew Sigel estimated that Ethereum will eventually capture 60% of the market share across all public blockchains.

 

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