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Galaxy Ventures Fund I LP exceeded its $150 million fundraising target
Gate.io News bot, Bloomberg reported that Michael Novogratz’s Galaxy Ventures Fund I LP has exceeded its $150 million fundraising target. The fund is scheduled to complete its final closure by the end of June for $175 million to $180 million.
Galaxy Ventures Fund I LP will focus on investing in early-stage start-up projects, with a focus on payments and stablecoins. Previously, Galaxy Ventures used its own funds to invest between $30 million and $50 million per year. At present, the team has been integrated into the asset management department and has started to bring in external capital through the establishment of this fund.
Source: Bloomberg