“Backs early-stage companies developing critical infrastructure and applications for the onchain economy, with priority areas in stablecoins, payments, tokenization and the infrastructure that supports them.”
Splits below are computed from the 11 portfolio companies named in Galaxy's own June 2025 press release announcing Fund I's final close. Galaxy states it has backed 120-plus companies since 2018 (initially from the parent company's balance sheet, before this dedicated fund existed), so this sample is a small fraction of the full portfolio; we could not fetch a browsable portfolio page from galaxy.com in this session.
Galaxy Ventures is the dedicated venture arm of Galaxy Digital, the Mike Novogratz-founded digital asset firm. Its history predates its current fund structure: Galaxy has backed more than 120 companies since 2018, initially investing directly from the parent company's balance sheet before establishing Galaxy Ventures Fund I as a standalone vehicle. That fund closed oversubscribed in June 2025 at over $175 million against an original $150 million target, drawing from a diverse limited-partner base of institutional investors, family offices and strategic digital asset businesses.
The fund's stated thesis is specific: early-stage companies building critical infrastructure and applications for the "onchain economy," with named priority areas in stablecoins and cross-border payments, tokenization, and the infrastructure that supports both. The fund's own announcement names 11 portfolio companies directly, and the pattern is unmistakable: 1Money, M^0, Rail, Rain, RedotPay, Ubyx and Yellow Card are all payments or stablecoin infrastructure plays, alongside DeFi positions in Ethena and Arch Lending, infrastructure in Monad, and RWA tokenization in Plume.
Leadership sits with co-heads Will Nuelle and Mike Giampapa, supported by a dedicated Ventures Platform function that the announcement describes as providing company-building resources and access to Galaxy's other business lines, which for the right portfolio company could mean access to Galaxy's trading, asset management, or infrastructure operations.
Key stats:
| Partner | Role | Where to find them |
|---|---|---|
| Will Nuelle | Co-head, Galaxy Ventures | Named in Fund I close announcement |
| Mike Giampapa | Co-head, Galaxy Ventures | Named in Fund I close announcement |
We could not fetch a Galaxy-owned team page directly in this session (galaxy.com/ventures returned a 404 to our fetch tool), so these two names come from Galaxy's own press release, not a live team page. X and LinkedIn handles were not confirmed.