Galaxy Digital, spearheaded by Mike Novogratz, is in the early stages of establishing a $100 million fund aimed at nurturing early-stage crypto startups.

Traditionally, Galaxy Digital's venture arm, known as Galaxy Ventures, relied on its own financial resources for investments.

However, in a strategic shift, the formation of the new Galaxy Ventures Fund I saw the invitation extended to external venture capitalists last year.

This decision, as reported by Bloomberg on April 4, signifies a notable change in how the firm intends to finance emerging companies within the crypto space.

With plans to make minimum investments of $1 million into startups, Galaxy Ventures is positioning itself as a significant player in the venture capital landscape, showcasing a renewed confidence in the potential of the cryptocurrency market.