[https://dailyhodl.com/2020/09/30/billionaire-mike-novogratz-jumping-into-defi-mania-heres-the-entrepreneurs-new-bet-on-crypto/](https://dailyhodl.com/2020/09/30/billionaire-mike-novogratz-jumping-into-defi-mania-heres-the-entrepreneurs-new-bet-on-crypto/) Billionaire and former hedge fund manager Mike Novogratz is hopping on the decentralized finance (DeFi) bandwagon with his latest investment. Novogratz, the CEO crypto investment firm Galaxy Digital, has become a minority shareholder in the blockchain and DeFi-focused asset management firm ParaFi Capital. Galaxy Digital has joined the likes of startup investment firm Bain Capital Ventures and Henry Kravis of private equity giant KKR as ParaFi investors. According to ParaFi, the partnership will result in mutual benefits where Galaxy Digital can leverage the company’s expertise to identify opportunities in the nascent DeFi space.