It isn't all going to be plain sailing in blockchain land. DAH could be the first canary in the coal mine as they go out to close $35 million to $45 million, valuing the pre-revenue company at $100 million.
The banks and financial firms looking into investing, the people said, have also expressed doubts about the actual software solutions Ms. Masters’s start-up is working on, much of which has been put together through purchases of smaller start-ups. “The deal would need to improve materially for us to get involved,” said one executive at a financial firm, who has been looking at putting money into Ms. Masters’s company, speaking on the condition of anonymity because negotiations were continuing. “It’s not supercompelling.” Digital Asset Holdings’ head of business development, Beth Shah, said assertions that the company was facing challenges in raising funds were inaccurate but she declined to provide further details. All of the potential investors declined to comment.