R3’s Fund Records US$10 Million in Investment Into 20 Early-Stage Blockchain Startupsby Fintech News Singapore April 21, 2021
Global enterprise software firm R3’s Development Fund announced that it has hit the US$ 10 million mark in capital deployed across over 30 investments in more than 20 promising early-stage blockchain and confidential computing companies.
The fund invests in startups building apps on R3’s enterprise blockchain platform, Corda, and its new confidential computing platform, Conclave.
It was launched in 2019 to support firms leveraging blockchain for global commerce and to further establish R3’s presence in financial services, trade finance, insurance and digital assets.
With the launch of Conclave, the fund expanded its investment thesis to include startups building with the confidential computing software.
While the fund’s core goal is to further the adoption of Corda and Conclave in R3’s core markets, it takes an opportunistic approach in other non-core segments such as digital advertising, media, healthcare and more.
David E. Rutter, CEO at R3 said,
“R3’s strength is derived from its community, which includes a diverse range of start-ups from a myriad of industries – from insurance to education, supply chain finance to payment messaging – building and deploying apps for customers across the globe.
The R3 Development Fund is already known in these industries as an expert strategic investor with a strong track record in backing the most promising early-stage companies.”
Featured image credit: screengrab from R3