Galaxy Interactive – the subsidiary of Galaxy Digital Holdings Ltd. – Has completed a $ 325 million financing round to further expand into the digital space. More than 70 LPs took part in the event, including institutional investors, foundations, strategic investors and family offices.

Young people are switching from the physical to the digital world

Almost $ 150 million of the $ 325 million has been invested in new companies that will add to Galaxy Interactive’s existing portfolio of over 60 interactive companies, according to a recent announcement. That list includes Mythical Games, Immutable, StockX, Genvid, GreenPark, Current, and Bad Robot Games.

The current financing round, in turn, was dedicated to blockchain-based games and artificial intelligence. In this sense, one of the founders of Galaxy Interactive – Sam Englebardt – sketched that the younger generations have already begun to “switch en masse from the physical to the digital world”.

“There has never been a better time to focus on the intersection of content, finance and technology, and we are fully keen to take responsibility for growing this sector,” he added.

Mike Novogratz – Galaxy Digital’s chief executive officer – also commented on the matter, suggesting that Galaxy Interactive executives saw the merits of the industry in their early days:

“They were the first people to pound on my desk, insisting that games and digital objects – not even called ‘NFTs’ – would be the greatest opportunity for blockchain technology to scale, and that Galaxy Digital is up specialize in this area. “

Galaxy Interactive is a division of Galaxy Digital. Founded in 2018, it is a phase-independent venture fund focused on companies operating at the intersection of content, finance and technology.

Galaxy Digital’s crypto efforts

Earlier this year, the company acquired crypto custodian BitGo as the total transaction value based on Galaxy Digital’s share price was around $ 1.2 billion in early May.

After the move, the latter promised to become a “leading global full-service platform for institutions seeking access to the crypto economy”.

In August, Mike Novogratz’s company filed for SEC approval for a Bitcoin ETF. Interestingly, this was the second attempt. While Galaxy Digital sought the green light in April with the more traditional route under the Securities Act of 1933, this time it took a different approach – under the Securities Act of 1940.

SPECIAL OFFER (sponsored)
Binance Futures 50 USDT FREE Coupon: Use this link to register and get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register and enter the POTATO50 code to get 50% free bonus on every deposit up to 1 BTC.

LEAVE A REPLY

Please enter your comment!
Please enter your name here