PANews April 17 - According to Bloomberg, sources have revealed that Michael Novogratz's Galaxy Ventures Fund I LP has surpassed its $150 million fundraising target, aiming to build a portfolio of about 30 investments. This fund focuses on investing in early-stage startups, with particular emphasis on the payments and stablecoin sectors, and is expected to complete fundraising by the end of June, with the amount ranging between $175 million and $180 million. The new fund's limited partners primarily include family offices and high-net-worth individuals. Galaxy itself has also invested in the fund.

Galaxy has recently received approval for a direct listing on the Nasdaq Stock Exchange, with the transaction expected to occur after a special shareholder meeting in May.