ParaFi Capital raises $120 million to purchase shares in other cryptocurrency funds

According to Bloomberg, New York based digital asset management company ParaFi Capital has raised $120 million from investors such as Theta Capital Management and Accolade Partners. Henry Kravis, co-founder of KKR&Co., is also one of the supporters of the company. According to ParaFi's new strategy, this funding will be partially used to acquire shares in other cryptocurrency funds focused on specific niche markets, strategies, or regions. ParaFi founder Ben Forman stated in an interview that the company plans to establish an investment portfolio in the next three to five years, investing in 30 to 50 shares of such funds. In recent years, ParaFi has invested in 9 different cryptocurrency management companies. As the number of cryptocurrency funds begins to grow again, the company is expanding this strategy to external investors. ParaFi is one of the largest cryptocurrency funds. The company has been operating hedge funds and venture capital strategies for about six years and has a team of 22 people. In addition to KKR and Kravis, investors in ParaFi also include Bain Capital Venture Capital.