US Investment Giant KKR Establishes Private Equity Fund on Avalanche Blockchain

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Global investment giant KKR&Co has partnered with digital asset management firm Securitize to tokenize its private equity fund on a public blockchain network.

According to an official press release, the partnership will allow KKR to tokenize its second strategic healthcare growth fund on the Avalanche blockchain, making it available to investors with at least $5 million in investable assets.

KKR offers tokenized funds to investors

The Growth Fund is a $4 billion vehicle that invests in growing healthcare businesses in North America and Europe.

Dan Parant, managing director and co-head of US private banking at KKR, said the firm is seeing growing interest from retail investors in the fund.

He also noted that token funds remove many of the barriers that prevent individual investors from accessing private stocks. For example, token funds give individuals easy access to private stocks while allowing them to invest smaller amounts.

“With its ability to digitize operational inefficiencies and increase ease of use for individual investors, blockchain technology has the potential to play an important role in the future of private markets,” Parant added.

With the help of Securitize’s tokenized feeder fund on Avalanche, eligible investors will be able to purchase KKR’s growth fund. Investors will be required to hold the security for a year before selling it to other qualified buyers on a secondary market operated by Securitize.

Speaking on the development, Securitize CEO Carlos Domingo said:

“This new fund is an important step towards democratizing access to private equity investments by providing more efficient access to institutional-grade products.”

KKR invests in crypto companies

Although this is KKR’s first tokenized fund, the buyout firm has been relatively active in the crypto industry and has backed a few crypto companies recently.

The private equity giant made its first blockchain investment in September 2021 after acquiring a stake in crypto-native investment and technology firm ParaFi Capital.

In April, the KKR participated in a $640 million fundraising round for crypto-focused investment firm Dragonfly Capital.

KKR also planned to participate in the recently completed $100 million funding round for blockchain gaming powerhouse Animoca Brands, but had to pull out due to the recent stock market crash.

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