The former head of JP Morgan global commodities and CEO of blockchain startup Digital Asset Holdings is back.
After quietly stepping away from the heavily funded Digital Asset last year Blythe Masters has joined as an industry partner at the newly launched Motive Partners, an investment firm focused on backing companies building technology for financial services.
Coming less than a week after Masters’ previous company, Digital Asset, raised a $35 million Series C, her new position shows the difficulty enterprise blockchain companies face as other technologies targeting enterprise problems continue to mature. Also joining Motive according to the statement was Richard Lumb, a 35 year veteran of Accenture, both of whom join as industry partners, focusing on thematic strategy development, deal origination, execution and value creation for Motive Partners portfolio companies.
The Fund has already invested in six portfolio companies requiring a total of $3 billion of equity from Motive and others. Portfolio companies include Switzerland-based banking software firm Avaloq, New Jersey-based data and analytics firm Dun & Bradstreet, and Italy-based Finantix, which is building artificial intelligence products for wealth managers, bankers, and insurance companies.
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