Galaxy has deployed about $50 million from Galaxy Ventures Fund I into early investments, including Monad, a performance-focused blockchain and Ethena, a protocol issuing a yield-bearing stablecoin

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Galaxy announced a first close of $113 million in July 2024 and has already deployed $50 million, backing companies such as Monad (a performance-focused blockchain) and Ethena (the issuer of a yield-bearing stablecoin).

According to Giampapa, Galaxy has already deployed around $50 million of the fund, investing in companies including the trading-focused blockchain Monad and the synthetic dollar protocol Ethena, which issues a yield-bearing stablecoin backed by crypto assets.