R3 Consortium Continues Raising Capital for DLT
The latest fundraising round for the R3 consortium recently led to a record-breaking US$107 million close for its second round of its Series A funding. The New York-based consortium raised US$59 million in 2016. Originally founded in 2014 with eight founding members, the consortium now has 100 odd members. This second round was led by ING Groep, Banco Bradesco, Itaú Unibanco, Natixis, Barclays, UBS Group, HSBC, Bank of America Merrill Lynch, Credit Suisse, Wells Fargo, Abu Dhabi Global Market (housing the countries financial regulator), and Nomura, among others. The two first rounds were open only to members of the consortium, although Temasek (the Singaporean state investment company) and Intel Capital were exceptions, as neither are part of R3. A third round will be launched later in 2017 to close the Series A, and will be open to non-members, as well.
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