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Private-Equity Giant KKR Makes First Blockchain Investment in ParaFi Fund

The investment firm has also created a working group to focus on best use cases for blockchain technology.

By Tanzeel Akhtar
Updated May 11, 2023, 5:45 p.m. Published Sep 30, 2021, 2:13 p.m.
Henry Kravis, co-chairman, co-chief executive officer and co-founder of KKR & Co., listens during a panel discussion at the Bloomberg New Economy Forum in Singapore, on Wednesday, Nov. 7, 2018. The New Economy Forum, organized by Bloomberg Media Group, a division of Bloomberg LP, aims to bring together leaders from public and private sectors to find solutions to the world's greatest challenges. Photographer: Justin Chin/Bloomberg via Getty Images
Henry Kravis, co-chairman, co-chief executive officer and co-founder of KKR & Co., listens during a panel discussion at the Bloomberg New Economy Forum in Singapore, on Wednesday, Nov. 7, 2018. The New Economy Forum, organized by Bloomberg Media Group, a division of Bloomberg LP, aims to bring together leaders from public and private sectors to find solutions to the world's greatest challenges. Photographer: Justin Chin/Bloomberg via Getty Images

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.

  • 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.
  • 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.
  • 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.
  • 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.
  • 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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