Galaxy plans to raise $100 million for the first cryptocurrency venture capital fund

Galaxy plans to start accepting external capital and shift its investment focus towards early cryptocurrency companies. This crypto investment giant plans to raise $100 million in funds to invest in early-stage crypto companies. This measure will help accelerate the development of the encryption field and provide investors with more opportunities to participate in the encryption market. The fund is named Galaxy Ventures Fund I, LP and aims to invest in up to 30 startups over the next three years. The email stated that it will target financial applications, software infrastructure, and encryption protocols.