Insider: Galaxy Ventures' new fund is set to close $180 million by the end of June.

BlockBeats News, April 17th, according to Bloomberg citing sources familiar with the matter, billionaire Michael Novogratz's Galaxy Ventures Fund I LP has raised $150 million to establish a target of about 30 portfolios.

The fund invests in early-stage startups, with a focus on the payment and stablecoin sector. The new fund's limited partners are mainly family offices and high-net-worth individuals. According to a source who declined to be named, the fund is expected to complete its fundraising by the end of June, with a total amount raised between $175 million and $180 million.