Galaxy Digital becomes a shareholder in ParaFi Capital to jointly co-invest in the DeFi space

Mike Novogratz's Galaxy Digital has become a minority shareholder in venture firm ParaFi Capital to jointly co-invest in the decentralized finance (DeFi) space.

ParaFi said Galaxy's strategic investment (undisclosed) would help drive further adoption of DeFi, especially among institutions. ParaFi's other investors include Bain Capital Ventures and Henry Kravis, co-founder of private equity giant KKR & Co.

ParaFi began investing in DeFi in 2018, and its portfolio includes leading protocols such as Uniswap, Compound, Aave, and Synthetix. As of August 31, ParaFi had more than $100 million in assets under management.

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