The fund closing above target comes at a time when crypto venture capital is thin on the ground despite an industry-friendly administration in the United States. Earlier this year, Novogratz’s firm reported that 2024 was also a tough year for crypto VC despite potential market drivers such as Bitcoin ETFs, the memecoin craze, and AI agents, which it said were “not particularly suited to venture capital.” Venture capitalists invested $11.5 billion into crypto and blockchain-focused startups across 2,153 deals in 2024, it reported.
Zero, a stablecoin liquidity DeFi protocol; layer-1 blockchain Monad; layer-2 tokenized asset chain Plume; and Renzo, a protocol supporting derivatives on assets locked in EigenLayer and Ethereum. Crypto doing what its supposed to doGalaxy CEO Mike Novogratz remains confident in crypto and Bitcoin (BTC), stating on X on April 16 that it is “doing what it’s supposed to,” and “acting as a report card on financial stewardship.”“In times of uncertainty, it reflects both the flight to safety and a long-term bet on a new financial system.
This was slightly higher than the $10 billion invested in 2023 but way down from over $30 billion invested in 2022. Crypto VC investments in America have also decreased by 22% to around $1.3 billion in the first quarter of 2025, according to Pitchbook.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Martin Young
The story "Crypto venture fund Galaxy Ventures could hit a $180M fundraise: Report" has 424 words across 18 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Crypto venture fund Galaxy Ventures could hit a $180M fundraise: Report" was covered 4 days ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 11 news stories per day.
It's most recent story was published 7 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Positive, indicating that people regard this as "good news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
