Bitcoin and other cryptocurrencies continue to attract large and experienced investors. Another evidence of this was the news that 75-year-old billionaire Henry Kravis became an investor in the cryptocurrency fund of ParaFi Capital, reports Bloomberg.
Henry Kravis is the co-founder of the global investment firm Kohlberg Kravis Roberts & Co, whose capitalization as of October 2017 was $ 16.5 billion. The personal fortune of the entrepreneur in July 2018 was estimated at $ 5.8 billion, which put him at 365th most rich people in the world according to Forbes.
The fact that Kravis invested in ParaFi Capital was announced by the founder of the Californian company and investment director Ben Forman, who previously worked at KKR & Co.
“In high-yield markets, I fought for supremacy over an index of dozens of basis points. Cryptocurrencies, on the other hand, because of their novelty, offer active managers incredible opportunities for domination, ”he said.
Currently, ParaFi manages assets of $ 25 million, and by the first quarter of 2020, the company plans to reach a figure of $ 100 million.
“When I tried to promote the idea of investment in the blockchain while working at KKR, it became clear that the firm was not ready to offer the optimal format for this. Therefore, instead of promoting cryptocurrencies in KKR, I decided to create KKR in the cryptocurrency space, ”Forman added.
Other ParaFi investors include Bain Capital Ventures and Dragonfly Capital Partners.
Representatives Kravis from comments in the meantime while abstained.