New York-based digital asset manager ParaFi Capital raised $125 million this month for a new venture fund, Bloomberg reported on Monday.
Citing its founder Ben Forman, the report said ParaFi is currently focused on companies navigating stablecoins, tokenization, and institutional onchain finance. The firm already invests in major crypto players, including Anchorage, Bitwise, and Polymarket.
The latest funding comes amid a challenging market backdrop, with bitcoin (BTC) down over 40% from its October all-time high. Several other major crypto funds, such as Paradigm, have expanded their focus to AI agents and robotics.
Forman told Bloomberg that the fundraising indicates that "sophisticated investors" can distinguish the short-term price volatility from the long-term adoption of blockchain-based financial infrastructure.
The Block has reached out to ParaFi for further information on the latest raise.
Outside of the recent $125 million raise, ParaFi has raised a separate $325 million for its ongoing digital asset investment strategies since the beginning of 2025, the report said. It now holds around $2 billion in assets under management.
Founded in 2018, ParaFi is backed by Bain Capital Ventures and KKR & Co. co-founder Henry Kravis. In 2024, the firm raised $120 million from investors including Theta Capital Management and Accolade Partners.
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