PANews reported on April 17 that, according to Bloomberg, sources revealed that Michael Novogratz's Galaxy Ventures Fund I LP has exceeded its fundraising target of $150 million and will build a portfolio of approximately 30 investments. This fund focuses on investing in early-stage startups, particularly in the payment and stablecoin sectors, and is expected to complete fundraising by the end of June, with an amount 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 also invested in the fund.
Galaxy recently received permission for direct listing on the Nasdaq Stock Exchange, with the transaction expected to take place after a special shareholders' meeting in May.
