Galaxy Digital

Basics

• Venture capital firm by Mike Novogratz
• Customer of Fireblocks

Investments

• Got hit by the FTX crash. From Bitcoin.com (10-11-2022): “As of the date of this filing, the partnership has an exposure of approximately $76.8 million of cash and digital assets to FTX, of which $47.5 million is currently in the withdrawal process.”
• Galaxy Digital reported a 2021 Q2 loss of $176M on due to a drop in Crypto Prices
• 1inch. Participated in a $2.8M raise for 1inch (11-8-2020).
• Anchor; Do Kwon mentioned them as part of a $20M raise, calling the participants the 'Anchor whales' (16-3-2021)
• Avalanche. Participated (25-6-2020) in a $12M private sale of Avalanche.
• Axelar; was part of one of their 3 financing rounds (1-9-2022).
• Bullish Global; participated in a funding round (12-5-2021).
• Celestia; participated in their $55M raise (20-10-2022).
• DODO. Participated in a $5M raise for DODO (15-10-2020).
• Evmos; took part in their $27M token sale (2-11-2022)
• Figment; took part in their $50M Series B (16-8-2021).
• Fireblocks, Was part of a Series C funding raise of $133M (18-3-2021).
• Index Coop; closed a $7.7M funding round for them (7-7-2021).
• NuCypher. Backer of NuCypher (9-10-2020).
• OP Crypto Capital Management; (Huobi's Metaverse fund), joined in the launch of it's $25M fund (6-9-2021).
• Opium Protocol. Part of a $3.25M raise (2-11-2020).
• ParaFi. Is a backer of ParaFi (20-8-2020).
• Polygon: participated in a $450M private sale (7-2-2022).
• Radicle; one of the backers named as an early supporter (17-2-2021).
• Ramp; led its $10.1M seed round (6-2021).
• Skale. Is on the list of supporters of Skale (31-7-2020).
• Terra; is mentioned as an investor in one of their blogs (5-1-2021). Was part of the $150M ecosystem fund for Terra as well (16-7-2021). When UST depegged and the Terra ecosystem crashed down, founder Novogratz reflected on it writing: "My tattoo will be a constant reminder that venture investing requires humility."

Galaxy Digital Ventures

• Has invested in Bitgo. Update (5-5-2021): bought BitGo for over $1B.

• Michael Novogratz, bought $7.5M shares of his company for $4.8M; Novogratz now owns 79.3% of company shares. Galaxy saw a net loss of $76.65M in Q3 2018 which Novogratz described as the reality of building "a business in a bear market"

Galaxy Digital Partners

• Invested in 0x, Messari, Civic, Ethereum, Monero, Stellar, Filecoin and Power Ledger

Current employees

• Chris Ferraro; partner at Galaxy Digital and board of directors at BlockFi
• Laid off (1-2020) 13 people, roughly 15 percent of its workforce.

Partners

• Is a sponsor of Coin Center (as of 6-2019)
• Galaxy Digital and Bakkt will team up (10-6-2020) to offer buying and custodial services.