Blockchain firm R3 announces co-founder Jesse Edwards’ exit and plans to support early stage companies

Enterprise blockchain firm R3 has announced that one of its founders, Jesse Edwards, is leaving the company.

In a press release dated March 25, the company said that Edwards had previously made known his plans to “set up his own independent investment shop, one dedicated to driving Corda adoption globally.

“It’s true that my work here is done and it is time to move on. This has been one of the best experiences of my professional career, and I am incredibly privileged to have worked alongside such a talented and passionate team in building this business. R3 has broken away as the market leader and standout partner of choice for professionals looking to apply this technology to their industries. I couldn’t be prouder,” Edwards said in a statement.

R3 CEO David Rutter said that the team is grateful to Edwards for his contribution towards launching R3. He added:

“People come and go in your professional life, but I am proud and honored to have worked with Jesse at R3, and look forward to continuing our work together in other ventures.”

The announcement of Edward’s departure from the firm was made alongside R3’s corporate development update. The firm said that it has decided to leverage its strong capital base to position itself as the “blockchain for business” for the long term.

To that end, R3 said that its board has approved the formation of a Corporate Development function which will support early-stage companies building on the Corda platform and explore a variety of potential joint venture, acquisition, and related activities focused on later stage companies aligned with R3’s vision.

“The board has approved R3’s strategy creating a robust internal Corporate Development function that will deploy capital to support and accelerate ventures,” R3 Board Chairperson Fred Dalibard said. “This is a critical time in the blockchain industry, and given the massive potential for the Corda ecosystem to expand rapidly, this function will help enable the next phase of R3’s development.”