Blythe Masters seeks $35M for her blockchain startup

Less than two weeks after Reuters quoted one of the most powerful women on Wall Street, Blythe Masters as saying that she is fully committed to her blockchain startup Digital Asset Holdings, it has come to our knowledge that the finance lady is looking to raise $35M in a financing round which is expected to be completed before Christmas Eve.

According to the New York Post, even though the round is slated to close in less than 10 days from now, apart from a select few, investors are not so keen. Digital Asset Holdings is planning the blockchain technology to cut down on costs and speed up transactions.

But it’s not all cakewalk for Blythe. While a recently received e-mail from her says that the funding round is “quite materially oversubscribed,” there are many who feel that the pace of DAH’s progress is too slow in the fast moving financial industry. This is pushing many potential investors to rethink their investment plan.

Talks have also hit rough patches on topics such as board composition, shareholder voting rights, and how big shareholders can sell their equity, according to sources close to the NYPost.

Potential Investors

While the  list of investors is still undisclosed, JPMorgan Chase, where she earlier worked for 27 years, may lead the financing round with $7.5 million. Spanish banking giant Santander may invest close to $3 million. Masters is the non-executive chairman at Santander Bank.

Among other leading (expected) investors are Markit, Bank of America, Goldman Sachs, Morgan Stanley, Citigroup, and Nasdaq.

A successful financing round will paint a clear picture about the investors’ confidence in DAH. But concerns about the growth of the blockchain startup and other issues such as the company’s structure need to be addressed before investors can commit their funds and their attention with as much confidence as Blythe Masters has.