Galaxy Digital's venture team has long invested its own money in crypto companies. Now, it's planning to do the same with outside investors' capital.

According to an investor email shared with CoinDesk, the crypto investment giant is putting together a $100 million fund that will invest in early-stage crypto companies. In 2023, Galaxy moved its venture capital franchise into its asset management business.

Called Galaxy Ventures Fund I, LP, the fund aims to invest in up to 30 startups over the next three years, with minimum investments starting at $1 million. The email said that the fund will target financial applications, software infrastructure, and protocols building in crypto.

Galaxy is already a prolific investor in crypto companies; according to the email, it has invested over $200 million into more than 100 projects over the past six years. While Galaxy's Interactive team has taken outside capital previously, this is a first for the venture team.

The email said that the new fund "will continue the success of our proprietary balance sheet investing but through a direct, institutional-grade fund."