Galaxy Asset Management has raised $113 million for its new venture fund

Galaxy Asset Management unit has raised $113 million for its new venture fund, which invests in early-stage startups focused on crypto software, infrastructure and financial applications. Galaxy Ventures Fund I LP will look to build a portfolio of about 30 investments. The fund has already put money into projects such as Ethena, Monad and Plume.Galaxy Digital Holdings said in a statement Thursday that the fund expects to continue to raise money to reach its $150 million goal by next year at the latest. Will Nuelle, the fund's other general partner, said the fund expects to invest between $3 million and $5 million per project, but the amounts could vary.