coindesk.com
Investment giant KKR & Co has made its first blockchain-related investment with a stake in the flagship fund of ParaFi Capital, ParaFi confirmed to CoinDesk on Thursday. Bloomberg first reported on the investment this week.
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KKR’s investment in the ParaFi fund, which focuses on decentralized finance markets, was made directly from its balance sheet, according to one of Bloomberg’s sources.
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The amount invested by KKR, which manages $429 billion in assets, was unknown. ParaFi declined to comment further, while KKR was contacted for comment but had not responded as of press time.
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KKR co-founder Henry Kravis is also an investor in ParaFi, and the private equity firm has also created a working group to focus on best use cases for blockchain technology, according to one of Bloomberg’s sources.
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ParaFi manages around $1 billion and was founded in 2018 by Ben Forman, who previously worked in KKR’s credit business and led its internal research department on blockchain and crypto, according to Bloomberg.
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Other investors in ParaFi include Michael Novogratz’s Galaxy Digital Ventures and Bain Capital Ventures.
Read more: Cross-Chain Protocol DeBridge Gets $5.5M in Seed Funding Round Led by ParaFi Capital
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