Morgan Stanley Backs Blockchain With Investment in Securitize
- Firm gathers $48 million in its Series B fundraising round
- Teixeira of Morgan Stanley to join Securitize’s board
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Startup Securitize Inc., which is developing a blockchain platform for investors to buy and sell shares in closely held companies and other assets, gathered $48 million in a fundraising round co-led by Morgan Stanley.
The Series B round, also led by Blockchain Capital, marks the first investment in the blockchain industry by Morgan Stanley Tactical Value Investing, the companies said in a statement Monday. Pedro Teixeira, co-head of the opportunistic-investment arm of the New York-based bank, will join Securitize’s board. Morgan Stanley and Blockchain Capital are the two biggest Series B investors, with neither company disclosing the size of their stakes.