KKR Makes First Blockchain Investment With ParaFi Fund Stake (1)

KKR & Co. has invested in the flagship fund of blockchain specialist ParaFi Capital in its first foray into the technology that powers cryptocurrencies, according to people with knowledge of the matter.

The private-equity firm, which has about $429 billion of assets, made the investment directly from its balance sheet, said one of the people, who declined to discuss the terms. ParaFi, which focuses on decentralized finance markets, also counts KKR co-founder Henry Kravis among its investors.

The move is an exploratory step into the booming world of cryptocurrencies, and meant to be a play on blockchain, not digital coins ...