Galaxy Interactive is a venture capital firm on next generation interactive technolo. Notably, it announces raising additional $325 million for its second fund from 70 different investors.
More so, The fund is for virtual and augmented reality, artificial intelligence, and also blockchain-based games.
Furthermore, Galaxy Digital is the majority owner of Galaxy Interactive. So, It states that $150 million from the fund is already in allocation to new portfolio companies. Which of course, includes Republic, 1047 Games, Elodie, ROAR, Art Blocks and Masterworks. Then, other additional investments are coming next month.
Additionally, Mike Novogratz is the Founder and CEO of Galaxy Digital. He notes the two general partners is seeing potential of the sector,
“They [Englebardt and Kim] 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.”
Meanwhile, Englebardt describes the interactive sector as
“the intersection of content, finance and tech”
Then, goes on to say it will drive considerable growth.
“What would you invest in if you believe, as @galaxyRTK and I so fundamentally do,…”
“that younger generations are moving en masse from the physical to the digital world?” “May you live in interesting times… @galaxyRTK @novogratz”
— Sam Englebardt (@samenglebardt) October 19, 2021
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