Billionaire Henry Kravis is the latest high profile personality to invest into the cryptocurrency market following a recent investment in ParaFi Capital

Henry Kravis is the latest titan of finance to take a shot at cryptocurrencies. He is the co-founder of KKR & Co, a global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds.

Kravis has reportedly invested in flagship fund of ParaFi Capital, according to Bloomberg. ParaFi manages roughly $25 million and is looking to quadruple that figure. 

Kravis joins a handful of bold-faced names who have defied mainstream skepticism to dabble with some of their billions in virtual currencies or the underlying blockchain technology. They include Alan Howard, Louis Bacon and Peter Thiel.

Ben Forman, a former employee who started his firm last year explaining “In the high-yield markets, I used to fight to outperform the index by tens of basis points,” Forman said in an interview. “Crypto, on the other hand, due to its nascency, offers a tremendous amount of alpha to active managers.”

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