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Galaxy Digital has closed a $175 million venture fund, its first with outside capital, as the company ramps up plans to invest in early-stage crypto startups.
The fund, which exceeded its $150 million target, marks the first time Galaxy has accepted outside capital. Until now, the company had relied solely on its own balance sheet for venture investments, according to a report from Fortune.
General partner Mike Giampapa told the outlet that the goal is to back early-stage companies utilizing stablecoins, DeFi applications and other blockchain use cases…
