17 hours ago | Peter Compare

According to ParaFi Capital founder and CIO Ben Foreman, billionaire investor and philanthropist Henry Kravis made his first investment into the cryptocurrency and blockchain space in late June. Henry Kravis, the co-founder of Kohlberg Kravis Roberts & Co. (KKR) has an estimated net worth of $5.5 billion and is ranked the 317th richest person in the world by Forbers.

The investment was first reported by Bloomberg, which quoted Ben Foreman as the source of this information. Foreman is a former employee of KKR, but then left the company to found the San Francisco-based digital asset startup: ParaFi Capital. His company operates a crypto-focused fund in which Kravis invested.

“In the high-yield markets, I used to fight to outperform the index by tens of basis points”, Foreman described his days at KKR. There he was working on debt investments and then led KKR’s blockchain and cryptocurrency research team, before he left the company in 2018.

“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,” said Foreman, who is now the CIO of ParaFi Capital, which describes itself as an “alternative investment firm with a focus on the fintech and blockchain ecosystem”.

According to Crunchbase, ParaFi has made investments in crypto exchange Coinbase and Ethereum-based stablecoin MakerDAO and Robinhood among others.

(Excerpt) Read more Here | 2019-07-08 22:14:54
Image credit: source

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