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/Source: CoinDesk