Banks involved in the blockchain consortium R3 CEV have expressed interest in investing $59 million in the company’s first funding round, less than half its overall target, a person close to the deal said on Friday.
R3, a New York-based startup, is seeking to raise $150 million from its members and strategic investors to fund its activities focused on developing blockchain-based technology for the financial services sector.
It had originally sought to raise $200 million, offering prospective investors a 90% stake in a new entity it would have run but restructured the deal to $150 million in return for a 60% stake in itself.
