According to Fortune, Mike Novogratz's Galaxy is expanding its venture capital business through a $175.00 million fund. On Thursday, the company announced the final closing of the fund, exceeding its initial target of $150.00 million.

It is reported that this is Galaxy's first time accepting external capital, but the company still serves as the anchor investor of the fund with its own funds, while acting as both a limited partner and holding general partner interests. As a company listed on Nasdaq in May, Galaxy's new fund also provides retail investors with a rare opportunity to participate in a crypto venture capital portfolio.