On April 17, according to Bloomberg, people familiar with the matter revealed that Michael Novogratz's Galaxy Ventures Fund I LP has exceeded its fundraising target of US$150 million and will build a portfolio of about 30 investments. The fund, which focuses on investing in early-stage start-ups, with a particular focus on funds in the payments and stablecoins, is expected to complete fundraising by the end of June, with a fundraising amount of between US$175 million and US$180 million. The new fund's limited partners are mainly family offices and high-net-worth individuals. Galaxy itself has invested in the fund. Galaxy recently received approval to list directly on the Nasdaq Stock Exchange, and the transaction is expected to take place after a special shareholders meeting in May.