ParaFi defies crypto market downturn with $125 million raise for new fund: Bloomberg

The firm now manages about $2 billion, having already raised an additional $325 million for existing crypto investment strategies since last year.

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What to know:

• ParaFi raised $125 million for a new venture fund focused on stablecoins, tokenization and onchain financial products for institutions.
• The firm now manages about $2 billion, having already raised $325 million for existing crypto investment strategies since 2025, and has backed companies including Polymarket, Bitwise and Anchorage.
• While the fundraise comes during a challenging period for the industry, with bitcoin down 26% from this year's high, investors appear to be increasingly focused on the long-term potential of blockchain-based financial infrastructure.

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BTCBTC$70,937.79◢0.74%

ParaFi, a New York-based digital asset manager backed by KKR co-founder Henry Kravis, raised $125 million for a new venture fund, Bloomberg reported.

The cash comes on top of the $325 million ParaFi said it has raised for existing crypto investment strategies since the start of 2025. The firm now manages about $2 billion.

Founder Ben Forman, who left KKR in 2018, said the new vehicle will focus on startups working in stablecoins, tokenization and onchain financial products for large institutions.

Since starting up, ParaFi has backed companies including prediction market Polymarket, crypto asset manager Bitwise, decentralized finance firm Kyber Network and custodian Anchorage.

The fundraise stands out as it comes during a weak stretch for the crypto sector. Bitcoin has fallen more than 26% from the 2026 high it hit in January, and only recently recovered the $70,000 mark. The wider market, measured via the CoinDesk 20 (CD20) index, lost one-third of its value over the same period.

Investors are starting to separate short-term token price swings from the longer-term case for blockchain-based financial infrastructure, Forman said, according to Bloomberg.

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New York Stock Exchange taps Securitize to build its tokenized stock platform

The move comes as the race to bring equities to always-on blockchain markets is heating up after Nasdaq obtained regulatory approval for its tokenization plan.

What to know:

• The New York Stock Exchange has tapped BlackRock-backed tokenization specialist Securitize to help design its tokenized securities platform.
• Securitize, an SEC-registered transfer agent, is expected to be among the first to mint tokenized stocks and ETFs on the platform, pending regulatory approval.
• The move underscores a broader push by NYSE and Nasdaq to move stock trading onto blockchain rails, offering around-the-clock trading and near-instant settlement.

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