Henry Kravis, co-founder of private equity firm Kohlberg Kravis Roberts (KKR) has invested in San Francisco based Crypto fund ParaFi, according to reports from Bloomberg.
Kravis is a rockstar on Wall Street who made his fortune in private equity deals, he will be joining the league with other Billionaires like Peter Thiel, Tim Draper, Zhao Dong, etc who have also invested in Crypto. Forbes estimates Henry’s net worth to be around $5.8 Billion at the time of writing.
Ben Forman, who led KKR’s in-house research for Blockchain technology and Crypto before founding ParaFi said that the firm manages around $25 Million and aims to reach $100 Million by 2020.
Forman said in an interview:
“In the high-yield markets, I used to fight to outperform the index by tens of basis points, Crypto, on the other hand, due to its nascency, offers a tremendous amount of alpha to active managers.’’
ParaFi has already invested in Cryptocurrency exchange giant Coinbase, Stablecoin project MakerDao and the transportation, logistics and financial services app Grab. Bain Capital Ventures and Dragonfly Capital Partners are among other investors who are backing ParaFi.
Blockmanity has previously reported about Billionaires like Zhao Dong, Steven Cohen and Peter Thiel who have praised Bitcoin and Blockchain technology. It is clear at this point that Bitcoin and Blockchain are here to stay, we have seen a lot of smart people leaving wall street and silicon valley giants like Google and Facebook to start Crypto related projects in the 2018 bear market. This is a clear indicator that Crypto assets are going to see a surge in the future and will likely be a bigger asset class on a global scale.
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