According to PANews, New York-based digital asset management firm ParaFi Capital has secured $120 million from investors including Theta Capital Management and Accolade Partners. Henry Kravis, co-founder of KKR & Co., is also among the company's supporters. This funding will be partially allocated to acquiring stakes in other crypto funds that focus on specific segments, strategies, or regions, as part of ParaFi's new strategy.

ParaFi founder Ben Forman stated in an interview that the company aims to build a portfolio over the next three to five years by investing in shares of 30 to 50 such funds. In recent years, ParaFi has invested in nine different cryptocurrency management companies. With the number of crypto funds beginning to grow again, the firm is extending this strategy to external investors. ParaFi is one of the largest crypto funds, operating hedge fund and venture capital strategies for approximately six years with a team of 22 members. In addition to KKR and Kravis, ParaFi's investors include Bain Capital Ventures.