Mike Novogratz raised $ 250 million to open a commercial bank for the crypto industry


The billionaire and head of Galaxy Investment Partners Mike Novogratz successfully collected the necessary amount of investments for the launch of Galaxy Digital, a cryptocurrency trading bank whose shares will be quoted on the Canadian stock exchange TSX Venture Exchange. This writes CCN.

As noted by the source, despite the largest in the history of the collapse of the crypto-currency market, Novogratsu still managed to raise $ 250 million, which is a quarter more than the originally planned amount.

Most of the names of investors remain unknown, since the collection of funds was carried out in the form of private placement, which does not imply full disclosure of information about participants. Nevertheless, Bloomberg reports that among venture capitalists was billionaire and Chairman of the Board of Directors of Foxconn Terry Gou.

According to Novogratz, the trading bank of Galaxy Digital is called to become “Goldman Sachs for the crypto industry”. Thus, in particular, the new company will specialize in cryptotrading, inter-stock arbitration, invest in blockchain start-ups and ICO, provide consulting services, and launch a wealth-oriented asset management service.

It is expected that the new company will appear in the listing of TSX Venture already at the end of the first quarter of 2018.

Recall, Mike Novogratz presented in the compiled Forbes first ranking of the richest representatives of the crypto industry. His condition is estimated at $ 0.7-1 billion.

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