Henry Kravis, a Billionaire investor and philanthropist enter the world of crypto assets with a notable investment in a fund offered by ParaFi Capital, according to a report by Bloomberg on Friday.
ParaFi founder and CIO Ben Forman, a former KKR employee who left to form the San Francisco-based digital asset startup stated to the publishing. He describes ParaFi Capital as an “investment firm focused on the blockchain ecosystem” that has backing from Bain Capital Ventures, Dragonfly Capital Partners and more.
According to Crunchbase, ParaFi has invested in crypto exchange Coinbase and ethereum-based stablecoin developer MakerDAO. The firm has been also working on debt investments. As per the publishing, Forman led KKR’s research efforts on blockchain and crypto before leaving the firm in 2018.
Forman added:
“While I toyed with the idea of pursuing blockchain investing within KKR, it was clear to me that the firm did not provide the optimal format to do so. Instead of pursuing crypto at KKR, I wanted to build the KKR of crypto.”
Kravis, who is also co-founder of global investment firm KKR & Co. has an estimated net worth of $5.8 billion as of mid-2018 and has been ranked as the 365th richest person in the world by Forbes, as per Wikipedia. Bloomberg states that a spokeswoman for Kravis has declined to comment on the investment.
Read more:Goldman Sachs CEO Hints At A ‘JPM Coin’-Like Cryptocurrency Launch
Image Source – Wikipedia
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