ParaFi Capital, a decentralized finance and blockchain investor, has revealed the strategic investment in an announcement which it has received from the leading financial services and investment management firm Galaxy Digital. With this strategic investment, Galaxy Digital is now a shareholder in the company ParaFi Capital.
Driving the adoption of decentralized finance (DeFi)
Through this partnership, both of these firms will collaborate with each other to find new opportunities for co-investing in the decentralized finance (DeFi) sector.
According to the venture firm ParaFi, this investment made by Galaxy Digital will be helpful for them in boosting the adoption of the decentralized finance industry and also driving the adoption of its innovations in the industry of blockchain tech.
While shedding a light on the importance of this partnership, the Founder and Managing Partner of ParaFi Capital Ben Forman said that this partnership marks a significant achievement for both the decentralized finance ecosystem as well as for ParaFi. He added:
“Programmable finance is a ‘zero to one’ innovation enabled by blockchain, and DeFi represents the nascent architecture for a new, open financial network. Galaxy has a strong track record of facilitating institutional interest in cryptocurrency and digital assets, as well as in working closely with leading companies in both fintech and traditional finance. As DeFi approaches an inflection point, we look forward to partnering closely with the Galaxy team.”
Apart from Galaxy Digital, the other investors of ParaFi Capital are Henry Kravis the co-founder of KKR and Bain Capital Ventures.
Galaxy Digital’s Chief Executive Officer (CEO) and Founder, Mike Novogratz said that their company is always in search of ‘first-class partners’ which collaborate with us in the development of the cryptocurrency ecosystem.
And ParaFi Capital, he said, is a perfect match for us because of its continuous involvement in the decentralized finance apps and protocols. “ParaFi shares our views on the transformative potential of DeFi, our urgency to help this space accelerate toward deeper product-market fit, as well as our collaborative, expertise-driven approach to venture capital,” he further added.