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.

AccessTimeIconSep 30, 2021 at 2:13 p.m. UTC
Updated May 11, 2023 at 5:45 p.m. UTC

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.
  • Profit-Making Crypto Address Makes New Investment of $16M in BTC
    00:59
    Profit-Making Crypto Address Makes New Investment of $16M in BTC
  • Could the Upcoming Bitcoin Conference Move Markets?
    00:34
    Could the Upcoming Bitcoin Conference Move Markets?
  • How Grayscale's 2.5% Fees Could Impact Investor Interest
    11:27
    How Grayscale's 2.5% Fees Could Impact Investor Interest
  • WazirX Hacked for $230M; Mark Cuban, Vitalik Buterin Speak Up on Crypto and Politics
    02:02
    WazirX Hacked for $230M; Mark Cuban, Vitalik Buterin Speak Up on Crypto and Politics
  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Tanzeel Akhtar

    Tanzeel Akhtar is a reporter based in London,UK.