Close Menu
  • Home
  • Business News
    • Entrepreneurship
  • Investments
  • Markets
  • Opinion
  • Politics
  • Startups
    • Stock Market
  • Trending
    • Technology
  • Online Jobs

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

Tech Entrepreneurship: Eliminating waste and eliminating scarcity

July 17, 2024

AI for Entrepreneurs and Small Business Owners

July 17, 2024

Young Entrepreneurs Succeed in Timor-Leste Business Plan Competition

July 17, 2024
Facebook X (Twitter) Instagram
  • Home
  • Business News
    • Entrepreneurship
  • Investments
  • Markets
  • Opinion
  • Politics
  • Startups
    • Stock Market
  • Trending
    • Technology
  • Online Jobs
Facebook X (Twitter) Instagram Pinterest
Prosper planet pulse
  • Home
  • Privacy Policy
  • About us
    • Advertise with Us
  • AFFILIATE DISCLOSURE
  • Contact
  • DMCA Policy
  • Our Authors
  • Terms of Use
  • Shop
Prosper planet pulse
Home»Startups»Novogratz’s Galaxy Digital aims to raise $100 million for crypto startup
Startups

Novogratz’s Galaxy Digital aims to raise $100 million for crypto startup

prosperplanetpulse.comBy prosperplanetpulse.comApril 4, 2024No Comments4 Mins Read0 Views
Share Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email


Earn takeoff! Accelerate your financial success with digital business, cryptocurrencies, and investing.Earn takeoff! Accelerate your financial success with digital business, cryptocurrencies, and investing.

Important points:

  • Galaxy Digital’s venture arm announces Galaxy Ventures Fund I, a new $100 million fund aimed at investing in early-stage cryptocurrency startups, moving from using only its own capital to attracting outside venture capital did.
  • The fund is focused on a minimum investment of $1 million to support the growth of the digital asset ecosystem, with a $2.7 million investment in Citrea to integrate ZK Rollup and Bitcoin as its highlight. It is light.
  • Cryptocurrency market capitalization hits an all-time peak of $3 trillion amid renewed interest in cryptocurrencies from venture capital, marked by increased funding and positive market impact from U.S. Spot Bitcoin ETF approval is approaching.

Galaxy Digital Venture Division We are currently laying the foundation for a new one $100 million fund Designed to invest in cryptocurrency startups.

The move puts Galaxy Digital in line with other venture capital firms. increasingly re-engaged with the cryptocurrency sector.

Michael Novogratz’s Galaxy Digital is in the early stages of raising new venture funding, with most of its $100 million goal expected to come from outside investors https://t.co/ogw4OdsLmJ

— Bloomberg Crypto (@crypto) April 3, 2024

called a fund Galaxy Ventures Fund Imarks a shift in strategy for Galaxy Ventures, which has traditionally invested its own capital in startups.

The company is now seeking additional funding from outside venture capitalists based on the insights it shared with Bloomberg on April 4.

One of the key strategies of this new fund is to make minimal investments. $ 1,000,000 In promising early stage companies.

Novogratz’s cryptocurrency company Galaxy Digital raises $100 million in new venture funding for crypto companies pic.twitter.com/LDrZu6n4sj

— Special Situations 🌐 Research Newsletter (Jay) (@SpecialSitsNews) April 3, 2024

This effort is part of Galaxy’s broader goals. stimulate growth within the digital asset ecosystem by supporting innovative startups.

Among Galaxy Ventures’ notable investments are: $2.7 million lead In Citrea’s funding round in February.

Citrea is a project dedicated to integration Zero Knowledge Rollup (ZK Rollup) We will introduce Galaxy’s efforts to support groundbreaking technological advances in the cryptocurrency field through collaboration with Bitcoin.

Galaxy Digital launches $100 million fund for early-stage crypto companies: report https://t.co/PxsuwJGenC

— The Block (@TheBlock__) April 3, 2024

Beyond this, Galaxy has actively raised funds and contributed to various projects. $75 million injection It invested in a fund managed by 1kx, a VC firm focused on crypto-based consumer applications.

The news comes at a time of growing venture capital interest in cryptocurrencies. reboundAfter last year’s market stagnation,

Cryptocurrency VC funding increased significantly in March. Raised $1.16 billion With 180 transactions, this is the highest monthly total since April 2022, according to RootData.

Other venture companies are also increasing their investment in virtual currencies, and Parra is $850 million fund,

Paradigm in talks to raise up to $850 million for new crypto fund: Report https://t.co/eOrBKR1xk1

— The Block (@TheBlock__) April 2, 2024

Hack VC assembly $150 million Dedicated by Andreessen Horowitz (a16z) to crypto startups $30 million Web3 was founded in a fund focused on gaming.

The resurgence of interest in venture capital coincides with the market’s positive reaction to the US approval. Spot Bitcoin Exchange Traded Fund (ETF) In January, this was the approximate contribution 50% increase Bitcoin price since the beginning of the year.

🚨 Just in: Galaxy Digital announces a $100 million fund for early-stage crypto startups, aiming to support up to 30 companies over three years.

— Satoshi Club (@esatoshiclub) April 3, 2024

As a result, the total market capitalization of cryptocurrencies is $1.7 trillion at the beginning of the year $2.61 trillionAs reported by CoinGecko, it is approaching its previous peak of $3 trillion.

About the author

Fleming's photoFleming's photo

An experienced Web3 and crypto content expert, Flemming Irunugba leverages his deep understanding of blockchain technology to bring the latest and most impactful news to the crypto community.

With a knack for engaging storytelling and strategic content creation, Fleming is dedicated to educating and inspiring audiences with insightful analysis on the future of cryptocurrencies, NFTs, and digital finance. I am.

Check out Fleming:


linkedin iconlinkedin icon





Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
prosperplanetpulse.com
  • Website

Related Posts

Startups

Cryptocurrency: Asian and African startups surpass US in market share!

July 14, 2024
Startups

Nitin Kamath’s vision to create more startup entrepreneurs in small towns in India

July 14, 2024
Startups

Small Japanese startup makes “Her” AI dating a reality

July 14, 2024
Startups

22 Indian startups secure over $116 million in funding this week

July 14, 2024
Startups

Small businesses are coming back – and it’s finally time

July 14, 2024
Startups

Scaling smart: How startups balance speed and quality in product iterations for growth – SME News

July 14, 2024
Add A Comment
Leave A Reply Cancel Reply

Subscribe to News

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Editor's Picks

The rule of law is more important than feelings about Trump | Opinion

July 15, 2024

OPINION | Biden needs to follow through on promise to help Tulsa victims

July 15, 2024

Opinion | Why China is off-limits to me now

July 15, 2024

Opinion | Fast food chains’ value menu wars benefit consumers

July 15, 2024
Latest Posts

ATLANTIC-ACM Announces 2024 U.S. Business Connectivity Service Provider Excellence Awards

July 10, 2024

Costco’s hourly workers will get a pay raise. Read the CEO memo.

July 10, 2024

Why a Rockland restaurant closed after 48 years

July 10, 2024

Stay Connected

Twitter Linkedin-in Instagram Facebook-f Youtube

Subscribe