Bloomberg: Galaxy Ventures fund has exceeded its $150 million fundraising target

PANews reported on April 17 that according to Bloomberg, people familiar with the matter revealed that Michael Novogratz's Galaxy Ventures Fund I LP has exceeded its fundraising target of US$150 million and will build a portfolio of about 30 investments. The fund focuses on investing in early-stage startups, especially in payments and stablecoins, and is expected to complete fundraising by the end of June, with a fundraising amount of between $175 million and $180 million. The limited partners of the new fund are mainly family offices and high net worth individuals. Galaxy itself also invested in the fund.

Galaxy recently obtained a direct listing license on the Nasdaq Stock Exchange, and the transaction is expected to take place after a special shareholder meeting in May.