Mike Novogratz invests $113 million in crypto-VC

The venture capital firm Galaxy, founded by Mike Novogratz, has raised $113 million for a venture capital fund that invests in crypto startups. That reports Bloomberg.

Mike Novogratz is the founder of Galaxy Digital, one of the largest asset managers for digital assets and thus cryptocurrencies. It manages about $8.1 billion in assets. The company has already invested in projects such as Ethena, Monad and Plume.

The fund expects to raise even more money to reach the $150 million goal by next year. Galaxy Ventures, the digital asset-based company, invests between $30 million and $50 million annually in various crypto startups with a focus on areas such as infrastructure, DeFi and payments.

According to Galaxy founder Mike Novogratz, Bitcoin could still rise to as much as $150,000 in this bull market.