R3 Co-Founder Jesse Edwards Is Leaving the Enterprise Blockchain Firm

Jesse Edwards, one of the co-founders of R3, has left the enterprise blockchain company, CoinDesk has learned.

Edwards, a former Sandler O'Neill investment banker, helped found R3 back in 2014 with CEO David Rutter and ex-Standard Chartered executive Todd McDonald.

His departure appears related to a strategic difference over how to spur investment in startups that build on top of Corda, R3's blockchain fabric and base for running open-source applications.

Edwards, who was heavily involved in getting R3's initial funding in place, had been working at R3 on.

Still, Edwards had long wanted "To set up his own independent investment shop, one dedicated to driving Corda adoption globally," R3 said in a statement.

R3 and Edwards have decided "It made sense for him to explore his own path, which we fully support," said the company said.

R3 said in its statement the firm had indeed earlier explored the idea of launching an outside fund built with R3 capital and supplemented with third-party investment focused on the same goals with early-stage companies.

"Yet after careful consideration, and especially in light of the financial strength of R3, we determined that we would accomplish these objectives more rapidly and with a more streamlined process by doing it ourselves," the company said.

"Jesse Edwards is an amazing friend and colleague, and we continue to invest alongside each other in multiple business ventures. We are forever grateful for the contribution he made to launching R3. 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."

It's no secret R3 is getting itself into lean and mean shape for the road to Corda adoption this year.