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 Ben Forman is the CIO of ParaFi Capital. Forman was a former employee at KKR and left to start the San Francisco-based digital asset startup. ParaFi Capital is described by Forman as an “investment company focused on the blockchain ecosystem”, with backing from Dragonfly Capital Partners, Bain Capital Ventures and others.
According to Crunchbase, ParaFi has invested in crypto exchange Coinbase and ethereum-based stablecoin developer MakerDAO. It has also been involved in debt investments. According to the publication, Forman was the leader of KKR’s research efforts in crypto and blockchain before he left the firm in 2018.
Forman also added:
“I had considered the possibility of blockchain investing at KKR but it became clear that this firm was not the best. I decided to pursue crypto at KKR instead of building the KKR of cryptocurrency.
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 reports that Kravis’ spokeswoman has declined to comment about the investment.
bestadmin
