Galaxy Ventures

Galaxy Ventures is the early-stage venture capital arm of digital asset firm Galaxy Digital. Founded in 2018 and based in New York, the group spent its initial years investing directly from Galaxy's corporate balance sheet before transitioning to an external fund structure. General Partners Will Nuelle, who previously developed quantitative risk software and DeFi tools at Galaxy, and Mike Giampapa, a former investor at Bessemer Venture Partners and Institutional Venture Partners, lead the investment practice.

The firm targets software infrastructure, financialized applications, protocols, and consumer networks, focusing on early rounds such as Seed and Series A. In June 2025, the firm completed the final close of Galaxy Ventures Fund I, LP at over $175 million, surpassing its initial target of $150 million after an interim close of $113 million in 2024. The fund directs capital toward payments, stablecoins, and tokenization rails.

Galaxy Ventures has backed critical infrastructure and application layer protocols. Historical and recent investments include the Series C round for on-chain intelligence provider TRM Labs in February 2026, the $52.7 million Series A for Ramp Network, and the September 2022 Seed round for cross-chain framework Hyperlane. Portfolio holdings also include Axelar, EigenLayer, Polygon, Pyth Network, and TaxBit. During late 2025 and early 2026, the team added positions in credit platforms Arch Lending and Fence, alongside Solana-focused projects DoubleZero and Titan.