Cryptocurrencies
Crypto Fund ParaFi Tokenizes Interest in a Venture-Capital Fund
- The firm used Securitize and Avalanche for tokenization
- ‘We decided we want to eat our own dog food,’ Forman said
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ParaFi Capital, a New York-based digital asset manager that includes KKR & Co. co-founder Henry Kravis among its backers, is tokenizing a minority portion of its latest venture-capital fund, which closed in May.
The LP interest will be available on the Securitize platform, and run on the Avalanche blockchain — both projects that ParaFi is an investor in. This is the first step toward more tokenization activity across the $1.2 billion firm, Ben Forman, founder of ParaFi, said in an interview.