Galaxy Interactive, an offering of Galaxy
Digital, continues to provide the largest set of interactive
sector-focused venture funds, with $650
million in combined assets under management
NEW YORK, Oct. 19, 2021 /CNW/ - Galaxy Digital
Holdings Ltd. (TSX: GLXY) ("Galaxy Digital") today announced that
its affiliate, Galaxy Interactive (or "the Company"), already the
largest franchise dedicated to the interactive sector, has raised a
fund with $325 million of committed
capital, with participation from over 70 new LPs, including
institutional investors, endowments, strategic investors, and
family offices. Galaxy Interactive is the second fund in a growing
product suite of multi-LP fund offerings within Galaxy Digital
Asset Management ("GDAM"), the asset management arm of Galaxy
Digital. Galaxy Digital has $2.2
billion in assets under management as of September 30, 2021.
![Galaxy Digital Holdings Ltd. Logo (CNW Group/Galaxy Digital Holdings Ltd.) Galaxy Digital Holdings Ltd. Logo (CNW Group/Galaxy Digital Holdings Ltd.)](https://mma.prnewswire.com/media/1663894/Galaxy_Digital_Holdings_Ltd__Galaxy_Interactive_Raises_an_Additi.jpg)
Led by General Partners Sam Englebardt and Richard Kim, Galaxy Interactive was established
by Galaxy Digital in 2018 to fill a gap in funding available to
companies in the "interactive" sector, which the Company defines as
the intersection of content, finance, and technology. Of the
$325 million raised, nearly
$150 million has already been
invested and/or earmarked for new portfolio companies. These new
companies will join Galaxy Interactive's existing portfolio of over
60 interactive companies, including Mythical Games, Genvid,
Immutable, GreenPark, Current, StockX, and Bad Robot Games, among
others.
Said Englebardt, "We launched this franchise three years ago
around one core question – what would you invest in if you believe,
as Richard and I so fundamentally do, that younger generations are
moving en masse from the physical to the digital world? Today, the
implications of that question present themselves everywhere, in so
many fascinating ways and through the utilization of revolutionary
technologies. There has never been a better time to focus on the
intersection of content, finance and tech, and we're fully
dedicated to leading the charge in growing this
sector."
Investments from the new fund that have been publicly announced
include Republic, 1047 Games, Elodie, ROAR, Art Blocks and
Masterworks, with several other completed investments slated to be
announced over the coming months.
Mike Novogratz, Founder and CEO
of Galaxy Digital added, "The prescience Sam and Richard have had
with respect to this sector has been uncanny. They were the first
people to pound my desk insisting that gaming and digital objects –
which weren't even called "NFTs" yet – would provide the biggest
opportunity for blockchain technology to scale and that Galaxy
Digital needed to specialize in this space. Fortunately, we
listened, as the companies in the portfolio they've built and the
pipeline they've created are going to have a profound impact on
both the real and digital worlds."
Galaxy Digital retains an LP interest in both Galaxy Interactive
fund offerings.
About Galaxy Interactive
Galaxy Interactive, an
offering of Galaxy Digital, is a stage-agnostic venture fund
focused on companies operating at the intersection of content,
finance and technology. Led by General Partners Sam Englebardt and
Richard Kim, Galaxy Interactive has
been amongst the most active videogame and blockchain investors in
the world since its inception in 2018, with $650 million in AUM across its two funds and
investments in more than 75 companies.
About Galaxy Digital
Galaxy Digital (TSX: GLXY) is a
technology-driven financial services and investment management firm
that provides institutions and direct clients with a full suite of
financial solutions spanning the digital assets ecosystem. Galaxy
Digital operates in the following businesses: Trading, Asset
Management, Principal Investments, Investment Banking, and Mining.
Galaxy Digital's CEO and Founder is Mike
Novogratz. The Company is headquartered in New York City, with offices in Chicago, San
Francisco, London,
Amsterdam, Tokyo, Hong
Kong, the Cayman Islands
(registered office), and New
Jersey. Additional information about the Company's
businesses and products is available on www.galaxydigital.io.
Disclaimers
The TSX has not approved or disapproved of the information
contained herein.
This press release includes certain "forward-looking
information" and "forward-looking statements" (collectively
"forward-looking statements") within the meaning of applicable
Canadian and United States
securities legislation including the United States Private
Securities Litigation Reform Act of 1995. All statements, other
than statements of historical or current fact, included herein, are
forward-looking statements. Forward-looking statements are
frequently, but not always, identified by words such as "expects",
"anticipates", "believes", "intends", "estimates", "potential",
"possible", and similar expressions, or statements that events,
conditions, or results "will", "may", "could", or "should" occur or
be achieved. Forward-looking statements in this press release
relate to, among other things, the Company's ability to realize
anticipated transaction benefits and the Company's ability to
achieve its business objectives. There can be no assurance that
such statements will prove to be accurate, and actual results and
future events could differ materially from those anticipated in
such statements. Forward-looking statements reflect the beliefs,
opinions, and projections on the date the statements are made and
are based upon a number of assumptions and estimates that, while
considered reasonable by the Company, are inherently subject to
significant business, economic, competitive, political and social
uncertainties and contingencies. The assumptions used in the
preparation of such statements, although considered reasonable at
the time of preparation, may prove to be imprecise. Many factors,
both known and unknown, could cause actual results, performance, or
achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied
by such forward-looking statements and the parties have made
assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation, the risks
identified in the Company's annual information form dated
April 8, 2020 and available on SEDAR
at www.sedar.com . Readers should not place undue reliance on the
forward-looking statements and information contained in this
release. The Company does not assume any obligation to update the
forward-looking statements of beliefs, opinions, projections, or
other factors, should they change, except as required by law.
SOURCE Galaxy Digital Holdings Ltd.