Galaxy Digital Announces a $100M Fund to Invest in Early-stage Crypto Companies
The new Galaxy Digital fund dubbed the Galaxy Ventures Fund I, LP, will invest in as many as 30 startups over the next three years.
Mike Novogratz is the CEO of Galaxy Investment Partners and an investment banker.
Michael Edward Novogratz is an ex-hedge fund manager, formerly of the investment firm Fortress Investment Group. He was ranked a billionaire by Forbes in 2007 and 2008.
Prior to joining Fortress, he was a partner at Goldman Sachs where he spent much time abroad including leadership roles in Asia and Latin America. Novogratz is a 1987 graduate of Princeton University, where he was a member of the wrestling team. He was a Virginia state runner-up in high school wrestling. He served in the U.S. Army National Guard after college. His siblings include Jacqueline Novogratz and Robert Novogratz.
Galaxy Digital
Nov 26th, 1964
American
New York City, New York, United States
Princeton University, A.B. in Economics - 1985-1989
Galaxy Investment Partners - CEO
Beat the Streets Wrestling, Inc. - Chairman
NYU Lagone Health
Fortress Investment Group - CIO - 2002-2015
Goldman Sachs - Partner - 1991-2002
The new Galaxy Digital fund dubbed the Galaxy Ventures Fund I, LP, will invest in as many as 30 startups over the next three years.
The company revealed in a blog post that, as of February 29, 2024, GAM was managing a staggering $10.1 billion in assets, marking a substantial 24.8% increase compared to the previous month.
The billionaire CEO described the current market level as “frothy”, noting that BTC is experiencing a price discovery phase with the arrival of the ETFs, bringing in “a new army” to test the market.
Commenting on Bitcoin’s recent movements, Mike Novogratz, CEO of Galaxy Digital, noted that BTC is in a price discovery phase, fueled by increased accessibility to US investors.
Despite the positive development, Novogratz acknowledges the lack of clear regulations surrounding cryptocurrencies.