Avalanche
The tokenized feeder into KKR's Health Care Strategic Growth Fund II, issued on Avalanche through Securitize in 2022, was the first time a major private equity firm opened a flagship vehicle to tokenized access. The fund pursues growth equity in healthcare companies across North America and Europe.
The first tokenized KKR fund: healthcare growth equity on Avalanche.
Prism analyst note
A structural landmark more than a trading asset: quarterly NAV, J-curve economics, decade-long horizon, and near-zero secondary liquidity. Tokenization here digitized the paperwork, not the exit. NAV progression through 2025 reflects the healthcare growth portfolio maturing past its J-curve trough. Suitable only as a locked, long-duration allocation.
Generated from issuer disclosures and reviewed against the sources listed below. Not investment advice.
Structure & compliance
- Underlying
- Healthcare growth equity portfolio (KKR managed)
- Legal structure
- Tokenized feeder LP interests (Securitize) into KKR HCSG II
- Jurisdiction
- United States
- Custodian
- Fund custodian per LP structure
- Administrator
- Securitize (transfer agent)
- Oracle / NAV source
- Quarterly NAV reporting
- Reserve information
- Quarterly audited NAV; capital calls and distributions per LP terms.
- Transfer restrictions
- Qualified purchasers; transfers require Securitize approval.
- Investor eligibility
- Qualified purchasers
- KYC required
- Yes
- Minimum investment
- $100,000.00
Reserve verification
Contracts & on-chain data
Addresses shown only where independently confirmed against explorers and issuer documentation. Holder and transfer analytics are available via the linked explorers. 100+
Documents & disclosures
Frequently asked
Can I sell my position?+
Only via approved transfers to other qualified purchasers. There is no liquid secondary market for PE feeders.
