- Investment firm KKR has put a portion of its private equity fund on the Avalanche blockchain.
- KKR is working with the digital-asset management platform Securitize Capital to onboard new clients.
- The move to tokenize funds is in order to increase accessibility for individual investors.
US Investment giant KKR & Co. has enabled its Health Care Strategic Growth Fund to be tokenized and put on the Avalanche blockchain network. The firm aims to increase accessibility for individual investors through this move.
With over $471 billion in assets under its management, KKR revealed in a press release that it is collaborating with the digital-asset management platform, Securitize Capital, to onboard new investors.
Securitize will also enable individuals to invest in the healthcare fund by KKR on the Avalanche network with assistance from a tokenized feeder fund.
Managing director and co-head of U.S. private wealth at KKR, Dan Parant, stated:
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.
While Securitize CEO Carlos Domingo added that the new fund will help democratize access to private equity funds through efficient accessibility to “institutional-quality products.”
KKR is not the first traditional financial establishment to participate in the cryptocurrency industry. Amid a current market plunge and BTC prices dropping by 50%, Wall Street clearinghouse Depository Trust & Clearing Corporation launched its private blockchain in August.
Moreover, Silicon Valley venture-capital firm Andreessen Horowitz doubled its cryptocurrency and web 3.0 investments in May with another $4.5 billion crypto fund, adding up to a total of $7.6 billion invested in digital assets.