PlayIconNav
BTC
$99,037.87+1.14%
ETH
$3,299.49-1.21%
SOL
$254.79-1.08%
BNB
$619.60+0.42%
XRP
$1.45+29.52%
DOGE
$0.40352109+5.04%
CD20
$3,275.06+5.81%
ADA
$0.95824709+20.07%
TRX
$0.19995256+0.52%
AVAX
$39.62+11.48%
SHIB
$0.00002481+1.19%
WBTC
$98,015.76+0.81%
Ad
Markets
Election 2024

Billionaire Investor Henry Kravis Makes First Crypto Investment

Billionaire businessman Henry Kravis has reportedly made an investment in a crypto fund started by an ex-employee.

By Daniel Palmer
AccessTimeIconJun 28, 2019 at 1:22 p.m. UTC
Updated Aug 18, 2021 at 1:02 p.m. UTC
Presented By Icon

Election 2024 coverage presented by

Stand with crypto
henry-kravis-wikimedia

Billionaire investor and philanthropist Henry Kravis is dipping his toe into the world of crypto assets.

According to a piece by Bloomberg on Friday, Kravis – who is co-founder of global investment firm KKR & Co. – is said to have invested in a cryptocurrency fund offered by ParaFi Capital.

VolumeMuteUnmute

Guild of Guardians Built to 'Win' the Web2 Mobile Space: Game Director

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0

    • The news comes via ParaFi founder and CIO Ben Forman, a former KKR employee who left to form the San Francisco-based digital asset startup. Bloomberg said a spokeswoman for Kravis has declined to comment on the investment.

    Forman describes ParaFi Capital as an "investment firm focused on the blockchain ecosystem" with 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,

    As well as working on debt investments, Forman led KKR’s research efforts on blockchain and crypto before leaving the firm in 2018, Bloomberg says.

    Forman said:

    “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 has an estimated net worth of $5.8 billion as of mid-2018, and is ranked by Forbes as the 365th richest person in the world, according to Wikipedia.

    Henry Kravis image via Christopher Michel/Wikipedia Commons

    Disclosure

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

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.