Michael Novogratz's Galaxy Ventures Fund I LP is on track to raise $175-180 million by June to invest in 30 crypto startups. Despite a challenging year for crypto VC in 2024, the fund has surpassed its $150 million goal. The industry saw a decline in VC investments, with $11.5 billion invested in 2024, down from over $30 billion in 2022. In the US, crypto VC investments dropped by 22% in Q1 2025. However, global crypto VC funding reached $4.8 billion in Q1, the highest since Q3 2022. The fund's portfolio includes projects like Ethena, M^Zero, Monad, Plume, and Renzo. Novogratz remains optimistic about crypto and Bitcoin's role in financial stewardship. Despite challenges, the fund's success reflects ongoing interest and investment in the crypto space. Read more AI-generated news on: https://app.chaingpt.org/news

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