---
title: "NYC VC Fund Launch: Galaxy Ventures Closes $175M+ Fund I for Onchain Economy"
description: "New York-based Galaxy Asset Management announced the final close of Galaxy Ventures Fund I at over $175M on June 26, 2025, exceeding its $150M target for onchain startup investing."
date: 2025-06-26T00:00:00.000Z
tags: ["nyc-vc-news", "fund-close", "new-york-funds", "venture-capital", "startup-funding"]
source: https://venturecapitaltracker.com/nyc-vc-fund-news-2025-06-26-galaxy-ventures-175m
---

# NYC VC Fund Launch: Galaxy Ventures Closes $175M+ Fund I for Onchain Economy

> New York-based Galaxy Asset Management announced the final close of Galaxy Ventures Fund I at over $175M on June 26, 2025, exceeding its $150M target for onchain startup investing.

Galaxy Asset Management announced the final close of **Galaxy Ventures Fund I at over $175 million** on June 26, 2025 — exceeding its $150M target and marking Galaxy's transition from balance-sheet to dedicated venture fund investing.

## Key facts

- **Firm:** Galaxy Ventures (Galaxy Digital affiliate)
- **Date announced:** June 26, 2025
- **Fund size:** $175M+ (oversubscribed vs. $150M target)
- **Focus:** Onchain economy — infra, protocols, financialized apps
- **Stage:** Early-stage
- **HQ:** New York
- **CEO:** Mike Novogratz (Galaxy Digital)

## Investment categories

Stablecoins, payments, tokenization, blockchain protocols, and supporting software infrastructure.

## Portfolio highlights

1Money, Arch Lending, Ethena, M^0, Monad, Plume, Rail, Rain, RedotPay, Ubyx, Yellow Card — 120+ companies total including historical balance sheet bets since 2018.

## Why this matters

Galaxy Ventures represents institutional crypto venture maturation in NYC — moving from proprietary balance sheet investing to a dedicated LP-backed fund. Strong LP demand signals continued institutional appetite for onchain startup exposure despite market volatility.

## Sources

1. PR Newswire (June 26, 2025): https://www.prnewswire.com/news-releases/galaxy-announces-final-close-of-oversubscribed-galaxy-ventures-fund-i-at-over-175m-302491684.html
2. Fortune: https://fortune.com/crypto/2025/06/26/galaxy-venture-fund-stablecoins-mike-novogratz-crypto-blockchain/