Novogratz Nets $250 Million for New Crypto Investment Venture

Billionaire and former Wall Street fund trader Mike Novogratz has reportedly raised $250 million for his come-back – a cryptocurrency investment venture dubbed Galaxy Digital.

According to Bloomberg, the private placement will enable Novogratz's new firm to trade and manage cryptocurrency assets and offer consultancy services to blockchain startups.In addition, a report from Taiwan's media outlet Economic Daily News revealed that Terry Gou, founder and CEO of Foxconn (HCM) is one of the participating investors with an $18 million placement in the round.

Follow @Fuckoff for more

The reports also indicate that investors are in fact buying Galaxy Digital's shares through a shell pharmaceutical company which will allow Novogratz's firm to be listed on a Canadian stock exchange without disclosing its financials.