Mike Novogratz Has Raised Funds for Crypto Goldman Sachs
February 9, 2018
The head of a multi-strategy investment firm Galaxy Investment Partners Mike Novogratz has raised the necessary amount of funds for the launch of a cryptocurrency trading bank dubbed Galaxy Digital. Shares of the bank will be listed on TSX Venture Exchange.
Novogratz raised $250 million, which is 25% more that the required sum. Names of the investors are not disclosed, though a person familiar with the situation said that a Taiwanese billionaire and a founder of Foxconn Terry Gou is among them.
It is believed that Mike Novogratz envisions the bank as a crypto version of Goldman Sachs, a former partner of which Novogratz is. Galaxy Digital will be focused on cryptocurrency trading, inter-exchange arbitrage and will help its clients to invest in ICOs, by providing consultation. An asset management service for wealthy customers will also be launched.
It is planned, that shares of this company will be listed on TSX Venture at the end of the March 2018.