Galaxy Ventures Fund I LP, spearheaded by Michael Novogratz, is on observe to lift between $175 million and $180 million by the tip of June, surpassing its authentic $150 million goal.
The capital can be used to help a portfolio of roughly 30 startups targeted on crypto and blockchain infrastructure, with an emphasis on stablecoins and fee methods, in accordance with an April 17 Bloomberg report citing sources aware of the matter.
The fund’s progress is noteworthy given the broader slowdown in crypto enterprise capital.
EXPLORE: Best New Cryptocurrencies to Invest in 2025
2024 Was a Difficult 12 months for Crypto VCs
Regardless of indicators of renewed retail curiosity pushed by Bitcoin ETFs, meme coin hypothesis, and AI integrations, Novogratz’s agency acknowledged that 2024 was a difficult yr for crypto VCs.
Galaxy Digital beforehand acknowledged that these developments—significantly the rise of AI brokers—weren’t inherently appropriate with conventional enterprise funding fashions.
Knowledge helps that warning. Enterprise capitalists poured $11.5 billion into the crypto and blockchain sector in 2024 throughout 2,153 offers—up barely from $10 billion in 2023 however a pointy decline from over $30 billion throughout the 2022 bull run.
U.S.-based crypto VC exercise has additionally slowed in 2025, with PitchBook reporting a 22% drop in funding throughout Q1, totaling round $1.3 billion. In the meantime, AI-related startups have absorbed 58% of world enterprise {dollars} to date this yr.
Globally, Q1 2025 noticed crypto VC funding hit $4.8 billion—the best since Q3 2022—in accordance with CryptoRank. Nevertheless, a $2 billion funding in Binance by Abu Dhabi’s MGX accounted for almost half of that determine, suggesting the rebound continues to be uneven.
Galaxy Ventures Fund I initially raised $113 million throughout its first shut in June 2024.
Its portfolio already consists of artificial greenback platform Ethena, DeFi stablecoin protocol M^Zero, Layer-1 community Monad, tokenized asset Layer-2 chain Plume, and Renzo, which helps by-product staking on Ethereum through EigenLayer.
Regardless of market turbulence, Novogratz stays optimistic. In an April 16 submit on X, he stated Bitcoin is “performing as a report card on monetary stewardship,” including that in uncertainty, it serves as each a protected haven and a long-term wager on a brand new monetary system.
EXPLORE: 10 Best AI Crypto Coins to Invest in 202
Crypto VC Funding Surges to $7.3B in Q1 Regardless of Market Lull
Crypto enterprise capital funding surged in Q1 2025, reaching $7.3 billion throughout 550 offers, in accordance with Messari. March noticed a notable uptick in exercise, at the same time as main cryptocurrencies remained comparatively flat.
~$154 million in enterprise funding this week.
Q1 closing with $7.3B+ raised throughout greater than 550 rounds. https://t.co/aPQcrAdnG6
— Messari (@MessariCrypto) March 28, 2025
Regardless of subdued efficiency from main cryptocurrencies, VC enthusiasm remained robust, particularly for early-stage rounds. Seed investments between $1M and $10M accounted for round 60% of all funding, whereas bigger rounds over $50M made up simply over 6%.
A key driver of this resurgence is the surge in AI-related investments. Over 30% of Q1 offers targeted on AI platforms and infrastructure, with top-tier funds allocating between 14% and 22% of their portfolios to AI.
DISCOVER: Best Meme Coin ICOs to Invest in April 2025
Join The 99Bitcoins News Discord Here For The Latest Market Updates
Key Takeaways
-
Galaxy Ventures is about to lift up to $180M to fund 30 crypto startups, surpassing its authentic aim. -
The elevate comes regardless of a broader crypto VC slowdown, with 2024 seeing a pointy drop from 2022 highs. -
AI investments dominated Q1 2025, driving over 30% of offers and reshaping enterprise capital priorities.
Why you’ll be able to belief 99Bitcoins
Established in 2013, 99Bitcoin’s workforce members have been crypto specialists since Bitcoin’s Early days.
90hr+
Weekly Analysis
100k+
Month-to-month readers
50+
Skilled contributors
2000+
Crypto Tasks Reviewed
Comply with 99Bitcoins in your Google Information Feed
Get the newest updates, developments, and insights delivered straight to your fingertips. Subscribe now!
Source link