Latest news with #GalaxyVentures
Associated Press
2 days ago
- Business
- Associated Press
Galaxy Announces Final Close of Oversubscribed Galaxy Ventures Fund I at Over $175M
Galaxy Ventures raises its inaugural venture fund with the support of a global base of limited partners to back early-stage startups building the onchain economy NEW YORK, June 26, 2025 /PRNewswire/ - Galaxy Asset Management, an affiliate of Galaxy Digital Inc. (NASDAQ: GLXY) (TSX: GLXY) and one of the world's largest digital asset and blockchain investment managers, today announced the final close of its oversubscribed Galaxy Ventures Fund I, LP ('GVF I' or 'the Fund'). Driven by strong investor demand for access to the growing digital asset venture ecosystem, the Fund closed with over $175 million in capital commitments, exceeding its target of $150 million. The Fund is focused on investing in early-stage companies developing critical infrastructure and applications for the onchain economy. Its investment strategy spans the categories of financialized applications, blockchain protocols, and software infrastructure. The Fund specifically has and will continue to target investments in secular growth areas like stablecoins, payments, and tokenization, plus all the supporting infrastructure that makes such technologies viable. This milestone marks a new chapter for Galaxy Ventures, which had previously invested from Galaxy's balance sheet since 2018. Given Galaxy Ventures' strong track record of supporting visionary founders at the earliest stages, GVF I attracted a diverse group of limited partners, including institutional investors, family offices, and strategic digital asset businesses. The portfolio already includes some of the most promising startups in the space such as 1Money, Arch Lending, Ethena, M^0, Monad, Plume, Rail, Rain, RedotPay, Ubyx, and Yellow Card, among others. Including historical balance sheet investments and the current GVF I portfolio, Galaxy Ventures has backed more than 120 companies to date. 'Galaxy Ventures closing its first fund above the target at a time when raising crypto venture is historically difficult showcases our team's unique edge in the market,' said Mike Novogratz, Founder and Chief Executive Officer of Galaxy. 'With deep roots in onchain markets and blockchain infrastructure, we're committed to backing founders and startups building real-world use cases that are shaping the next chapter of crypto adoption.' The Galaxy Ventures team is headed by Will Nuelle and Mike Giampapa. They are supported by a team of investors and a dedicated Ventures Platform function that directly supports portfolio companies with in-house company building resources and connectivity to Galaxy's global business lines including blockchain infrastructure, lending, trading, and more. With a global team of more than 550 employees, Galaxy offers portfolio companies deep industry connectivity, insight, and access to growth opportunities that help portfolio companies navigate the rapidly shifting crypto landscape. 'Blockchain infrastructure is poised to revolutionize global financial markets. We're seeing an acceleration of adoption from both institutions and retail users globally—especially around use cases like payments, capital markets, and financial services more broadly,' said Mike Giampapa. 'By investing in the teams that are building these core technologies and supporting their growth directly, we have a front-row seat to the most novel concepts and products in crypto.' About Galaxy Galaxy (NASDAQ/TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, investment banking, asset management, staking, self-custody, and tokenization technology. In addition, we invest in and operate cutting-edge data center infrastructure to power AI and high-performance computing, meeting the growing demand for scalable energy and compute solutions in the U.S. The company is headquartered in New York City, with offices across North America, Europe, the Middle East and Asia. Additional information about Galaxy's businesses and products is available on Disclaimers and Additional Information The TSX has not approved or disapproved of the information contained herein. CAUTION ABOUT FORWARD-LOOKING STATEMENTS This release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as 'forward-looking statements'). These forward-looking statements relate to the Tokenization Wizard launch and opportunities. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'continues', 'forecasts', 'projects', 'predicts', 'intends', 'anticipates' or 'believes', 'seeks' or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'should', 'might' or 'will' be taken, occur or be achieved. The forward-looking statements contained in this release are based on our current expectations and beliefs concerning future developments and their potential effects on us taking into account information currently available to us. There can be no assurance that future developments affecting us will be those that we have anticipated. Forward-looking statements involve known and unknown risks uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. Inherent in forward-looking statements are risks, uncertainties and other factors beyond the Company's ability to predict or control. The forward-looking statements are subject to the risks regarding the product and launch. Factors that could cause outcomes to differ materially from those described in such forward-looking statements include, but are not limited to global developments, a delay or failure in the ability to launch and changes in applicable law or regulation. Readers are cautioned that such risk factors, uncertainties and other factors are not exhaustive. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements in this release. The forward-looking statements in this release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and are inherently uncertain. Accordingly, investors are cautioned not to put undue reliance on forward-looking statements. View original content to download multimedia: SOURCE Galaxy Digital Inc.
Cision Canada
2 days ago
- Business
- Cision Canada
Galaxy Announces Final Close of Oversubscribed Galaxy Ventures Fund I at Over $175M
Galaxy Ventures raises its inaugural venture fund with the support of a global base of limited partners to back early-stage startups building the onchain economy NEW YORK, June 26, 2025 /CNW/ - Galaxy Asset Management, an affiliate of Galaxy Digital Inc. (NASDAQ: GLXY) (TSX: GLXY) and one of the world's largest digital asset and blockchain investment managers, today announced the final close of its oversubscribed Galaxy Ventures Fund I, LP ("GVF I" or "the Fund"). Driven by strong investor demand for access to the growing digital asset venture ecosystem, the Fund closed with over $175 million in capital commitments, exceeding its target of $150 million. The Fund is focused on investing in early-stage companies developing critical infrastructure and applications for the onchain economy. Its investment strategy spans the categories of financialized applications, blockchain protocols, and software infrastructure. The Fund specifically has and will continue to target investments in secular growth areas like stablecoins, payments, and tokenization, plus all the supporting infrastructure that makes such technologies viable. This milestone marks a new chapter for Galaxy Ventures, which had previously invested from Galaxy's balance sheet since 2018. Given Galaxy Ventures' strong track record of supporting visionary founders at the earliest stages, GVF I attracted a diverse group of limited partners, including institutional investors, family offices, and strategic digital asset businesses. The portfolio already includes some of the most promising startups in the space such as 1Money, Arch Lending, Ethena, M^0, Monad, Plume, Rail, Rain, RedotPay, Ubyx, and Yellow Card, among others. Including historical balance sheet investments and the current GVF I portfolio, Galaxy Ventures has backed more than 120 companies to date. "Galaxy Ventures closing its first fund above the target at a time when raising crypto venture is historically difficult showcases our team's unique edge in the market," said Mike Novogratz, Founder and Chief Executive Officer of Galaxy. "With deep roots in onchain markets and blockchain infrastructure, we're committed to backing founders and startups building real-world use cases that are shaping the next chapter of crypto adoption." The Galaxy Ventures team is headed by Will Nuelle and Mike Giampapa. They are supported by a team of investors and a dedicated Ventures Platform function that directly supports portfolio companies with in-house company building resources and connectivity to Galaxy's global business lines including blockchain infrastructure, lending, trading, and more. With a global team of more than 550 employees, Galaxy offers portfolio companies deep industry connectivity, insight, and access to growth opportunities that help portfolio companies navigate the rapidly shifting crypto landscape. "Blockchain infrastructure is poised to revolutionize global financial markets. We're seeing an acceleration of adoption from both institutions and retail users globally—especially around use cases like payments, capital markets, and financial services more broadly," said Mike Giampapa. "By investing in the teams that are building these core technologies and supporting their growth directly, we have a front-row seat to the most novel concepts and products in crypto." About Galaxy Galaxy (NASDAQ/TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, investment banking, asset management, staking, self-custody, and tokenization technology. In addition, we invest in and operate cutting-edge data center infrastructure to power AI and high-performance computing, meeting the growing demand for scalable energy and compute solutions in the U.S. The company is headquartered in New York City, with offices across North America, Europe, the Middle East and Asia. Additional information about Galaxy's businesses and products is available on Disclaimers and Additional Information The TSX has not approved or disapproved of the information contained herein. CAUTION ABOUT FORWARD-LOOKING STATEMENTS This release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). These forward-looking statements relate to the Tokenization Wizard launch and opportunities. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", "seeks" or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. The forward-looking statements contained in this release are based on our current expectations and beliefs concerning future developments and their potential effects on us taking into account information currently available to us. There can be no assurance that future developments affecting us will be those that we have anticipated. Forward-looking statements involve known and unknown risks uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. Inherent in forward-looking statements are risks, uncertainties and other factors beyond the Company's ability to predict or control. The forward-looking statements are subject to the risks regarding the product and launch. Factors that could cause outcomes to differ materially from those described in such forward-looking statements include, but are not limited to global developments, a delay or failure in the ability to launch and changes in applicable law or regulation. Readers are cautioned that such risk factors, uncertainties and other factors are not exhaustive. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements in this release. The forward-looking statements in this release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and are inherently uncertain. Accordingly, investors are cautioned not to put undue reliance on forward-looking statements.
Cision Canada
17-06-2025
- Business
- Cision Canada
Ubyx, The Stablecoin Clearing System Enabling Bank & Fintech Off-Ramps, Announces $10M Seed Led by Galaxy Ventures
Ubyx is founded by 30-Year Payments Veteran to Build Global Stablecoin Acceptance Network NEW YORK, June 17, 2025 /CNW/ -- Ubyx, the stablecoin clearing system that enables regulated banks and fintechs to redeem stablecoins at face value, today announced its $10M seed round led by Galaxy Ventures with participation from Coinbase Ventures, Founders Fund, VanEck, Mirana Ventures, LayerZero, Paxos, Boku, Payoneer, and Monerium. Ubyx is designed to deliver stablecoin ubiquity, meaning global acceptance of many stablecoins. Participating issuers include: Paxos, Ripple, Agora, Transfero, Monerium, GMO Trust, BiLira, Juno (a Bitso company), Brale, Minteo, Tokenised GBP, Avenia, Agant, AllUnity, and Eurodollar. The stablecoin market structure today has barriers to mass adoption. The paradigm of on/off-ramping into/out of the crypto world is a bottleneck for users. Each stablecoin issuer has to build their own distribution network, at great cost. Corporates and banks cannot currently hold stablecoins on their balance sheets as cash equivalents. Ubyx addresses these issues and expands the market by providing a clearing system for stablecoins, connecting multiple issuers with multiple receiving institutions, allowing redemption of stablecoins for fiat at par value into existing bank and fintech accounts. By solving market fragmentation, standardising redemption to support cash-equivalent accounting treatment, and aligning economic incentives, Ubyx will usher in the stablecoin epoch, as described in the recently published whitepaper. Ubyx Key Features: Global acceptance: Issuers access a mutual redemption network with a common rulebook. Cash equivalence and singleness of money: Stablecoins can be deposited at par value. Promotes regulated off-ramps: Redemption through regulated channels with AML, KYC, fraud, and sanctions screening. Extends trusted relationships: Banks and fintechs establish a foothold in digital assets. "Stablecoins become ubiquitous when there is a shared acceptance network, just like cards. Traditional banks and fintechs should provide wallets to accept a wide range of regulated stablecoins on many public-permissionless blockchains." said Mike Giampapa, General Partner of Galaxy Ventures. Shan Aggarwal, Vice President of Corporate and Business Development at Coinbase Ventures said, "Just like the internet changed how we communicate, stablecoins on public networks will change how we pay. Ubyx is a critical piece of the stack that will help make stablecoin acceptance universal." Bridget Harris, Associate at Founders Fund said, "As regulation solidifies and stablecoins proliferate, a clearing system is needed to make all of these assets interoperable and fungible. We're proud to be backing Ubyx as they build the infrastructure to make stablecoins accepted globally." Ubyx Founder and CEO, Tony McLaughlin said, "Ubyx represents the coming of age of stablecoins as the industry self-organises to deliver stablecoin ubiquity. Ubyx enables a pluralistic market structure with multiple issuers, multiple blockchains and multiple currencies in a global, interoperable network. The future of payments is stablecoin native." Ubyx facilitates widespread TradFi adoption of public blockchain infrastructure, and will support multiple chains including: Aptos, Arbitrum, Avalanche, Base, Canton, Concordium, Hedera, Polygon, Solana, Starknet, Stellar, Sui, XDC, XRP Ledger, and ZKsync. Scaling partners will provide TradFi players with wallets, blockchain analytics and other technology enablers. Launch partners include: Axelar, BitGo, Chainalysis, Chavanette Advisors, Copper, Dfns, Digital Asset, Fireblocks, GK8 by Galaxy, IntellectEU, Kaleido, LayerZero, Silence Labs, Taurus, TRM Labs, Utila, Zodia Custody, and Zuehlke. Live operation is planned for Q4 2025, with currency expansion and progressive decentralization of governance and technology to follow. The Ubyx Association is open to industry participants, regulators, and other stakeholders to form stablecoin strategies, connect with partners, and prepare for the stablecoin epoch. About Ubyx Ubyx was founded to facilitate stablecoin ubiquity, connecting multiple issuers with multiple receiving institutions in a common settlement environment that allows redemption of stablecoins at par value and supports the singleness of money.
Int'l Business Times
09-06-2025
- Business
- Int'l Business Times
Galaxy Ventures Backs RISE Chain, $8M Raised to Launch Fastest Zone for Real-Time Apps on Ethereum
Sydney, Australia, June 9th, 2025, Chainwire With the support of Galaxy Ventures and previous investment from notable industry leaders like Vitalik Buterin, RISE sets out to solve the blockchain adoption challenge with its exponentially faster blockchain technology; offering real-time performance of as low as 5ms latency and a 100k TPS target, while maintaining a decentralization-first roadmap. RISE, a real-time blockchain scaling Ethereum with record throughput and ultra-low latency, announced a $4 million investment from Galaxy Ventures, bringing total funds raised to date to $8 million. This latest funding round will enable RISE to continue to push the boundaries of blockchain performance and develop the next generation of blockchain applications. Offering instant transaction speeds is a key pillar of bringing more assets, enterprises, and users onchain, but building a blockchain that provides this has been difficult to date. RISE, a new blockchain built on top of Ethereum, solves this with its breakthrough transaction architecture, powered by Shreds which enable record-breaking latency as low as 5-milliseconds. This is especially significant for advanced DeFi use cases such as orderbook strategies, options, high-frequency trading, and market making. RISE launched its public testnet earlier this month, which has already undergone significant battle testing, reaching over 2 billion transactions, including over 50,000 transactions processed in a single 1-second block. This enables developers to experiment and build onchain apps that operate with a new standard of performance, introduced as 'Infinite Speed': real-time performance, decentralized. By rethinking blockchain design from first principles, RISE addresses a fundamental tradeoff where low latency and high throughput previously required compromising decentralization. Competing blockchains often rely on centralized approaches, introducing censorship risk and single points of failure. RISE was built from day one to deliver unstoppable performance without sacrificing decentralization, enabling real-time transactions on widely accessible, standard hardware. RISE will also implement performance-compatible based sequencing to leverage Ethereum's vast network of validators and unlock synchronous composability between Ethereum and RISE. Key Differentiators of RISE: Shreds: Sub-blocktime transaction confirmations enabling as low as 5ms round-trip latency Scalable Throughput: Currently benchmarked at over 50,000 TPS, with plans to exceed 100,000 TPS Based Sequencing (Coming Soon): Unlocking a true extension of Ethereum and solving liquidity fragmentation for users Secured Shreds (Coming Soon): Preconfirmations economically secured by Ethereum Validators, significantly improving the security profile 'Performance is only meaningful if it lasts,' said Sam Battenally, co-founder and CEO of RISE. 'RISE was built to stay fast—forever. This investment from Galaxy Ventures underscores the need for infrastructure that doesn't just scale technically, but scales trustlessly. We're excited to accelerate toward mainnet and bring the next generation of crypto apps into reality.' RISE will use the funding to support product and app development in the lead-up to mainnet launch. Builders can explore the testnet now at 'RISE is the first project we've seen that addresses the scalability trilemma without material security tradeoffs,' said Neil Bhuta, Investor at Galaxy Ventures. 'It brings a level of speed, scalability, and decentralization that is essential to supporting a new generation of high-performance applications. We're proud to back a talented team that is pushing the boundaries of blockchain technology.' About RISE RISE is a next-generation Ethereum Layer 2 blockchain redefining performance with 'Infinite Speed'—delivering instant transaction confirmation at unprecedented scale, while upholding Ethereum's core principle of decentralization. Its architecture enables as low as 5ms latency and will support over 100,000 TPS, unlocking a radically improved experience for both developers and users. Seed investors include Ethereum co-founder Vitalik Buterin and AAVE founder Stani Kulechov. For more information, users can visit Contact Co-Founder and CEO Sam Battenally RISE Labs sam@
Yahoo
09-06-2025
- Business
- Yahoo
RISE Chain Secures $4M From Galaxy to Power Ultra-Fast Layer-2
RISE Chain, a layer-2 blockchain focusing on speed and low latency, has secured a $4 million investment from Galaxy Ventures, the venture arm of Galaxy Digital. The capital will go towards building out the project's forthcoming mainnet. This brings RISE's total capital raised to $8 million, following earlier support from prominent crypto figures including Ethereum co-founder Vitalik Buterin. The team behind RISE is focusing on building a high-throughput, low-latency blockchain to address what it views as a core barrier to mainstream adoption: performance at scale. The project is hoping to take on competitors with their ultra-fast transaction speeds like MegaETH, or big layer-2 incumbents like Arbitrum or Base. According to a press release shared exclusively with CoinDesk, RISE achieves sub-block transaction confirmations—called 'Shreds'—that deliver latencies as low as 5 milliseconds. Its target throughput is over 100,000 transactions per second (TPS), exceeding most existing Layer 1 and Layer 2 networks, according to the team. Ultimately, the team behind RISE believes that the fastestness of its product will be a natural fit for speed-sensitive applications like central limit order books. 'I think [that one] is just ultimately inevitable,' said Sam Battenally, the CEO of RISE, in an interview with CoinDesk. Beyond that, Battenally believes the use cases are quite vast, but believes 'a lot of interactive social networks and gaming seems to be quite promising.' RISE is currently in testnet, but the team hopes to launch its mainnet later this year as well as a token related to the project. Read more: Galaxy, Fireblocks to Operate Nodes on Bitcoin Layer-2 Botanix
