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

In accordance with a piece by Bloomberg on Friday, Kravis – who’s co-founder of world funding agency KKR & Co. – is alleged to have invested in a cryptocurrency fund supplied by ParaFi Capital.

The information comes through ParaFi founder and CIO Ben Forman, a former KKR worker who left to kind the San Francisco-based digital asset startup. Bloomberg mentioned a spokeswoman for Kravis has declined to touch upon the funding.

Forman describes ParaFi Capital as an “funding agency targeted on the blockchain ecosystem” with backing from Bain Capital Ventures, Dragonfly Capital Companions and extra. In accordance with Crunchbase, ParaFi has invested in crypto alternate Coinbase and ethereum-based stablecoin developer MakerDAO,

In addition to engaged on debt investments, Forman led KKR’s analysis efforts on blockchain and crypto earlier than leaving the agency in 2018, Bloomberg says.

Forman mentioned:

“Whereas I toyed with the thought of pursuing blockchain investing inside KKR, it was clear to me that the agency didn’t present the optimum format to take action. As an alternative of pursuing crypto at KKR, I needed to construct the KKR of crypto.”

Kravis has an estimated web price of $5.eight billion as of mid-2018, and is ranked by Forbes because the 365th richest individual on the earth, based on Wikipedia.

Henry Kravis picture through Christopher Michel/Wikipedia Commons

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