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Bloomberg: Galaxy Ventures has exceeded its $150 million funding 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 $150 million and will build a portfolio of about 30 investments. The fund, which focuses on investing in early-stage startups, with a particular focus on payments and stablecoins, is expected to close by the end of June, raising between $175 million and $180 million. The limited partners of this new fund are mainly family offices and high-net-worth individuals. Galaxy itself has invested in the fund. Galaxy recently received permission to list directly on the Nasdaq stock exchange, and trading is expected to take place after an extraordinary shareholder meeting in May.