Galaxy Digital, a leading cryptocurrency venture capital firm, is preparing to launch a significant initiative in the crypto space.

The company is currently in discussions with various third-party entities with the aim of debuting the Galaxy Ventures Fund I, LP.

This new investment fund will concentrate its efforts on supporting cryptocurrency projects that are in their nascent stages.

With a targeted fundraising goal of $100 million, Galaxy Digital plans to invest in around 30 startups, providing crucial financial backing and resources to help these early-stage projects flourish.

This move underscores the firm's commitment to fostering innovation and growth within the rapidly evolving cryptocurrency sector.