Galaxy plans to raise $100 million for first cryptocurrency VC fund

Galaxy is planning to start accepting external capital and shift its investment focus to early-stage cryptocurrency companies. The cryptocurrency investment giant plans to raise a $100 million fund to invest in early-stage crypto companies. This move will help accelerate the development of the crypto industry and provide investors with more opportunities to participate in the crypto market. The fund is called Galaxy Ventures Fund I, LP and aims to invest in up to 30 startups over the next three years, targeting financial applications, software infrastructure, and crypto protocols, according to an email.