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DEAL NOTE: Crowell & Moring Advises R3 in Largest Ever Investment in Distributed Ledger Technology

Firm News | 1 min read | 05.23.17

More than 40 institutions from across Europe, Asia-Pacific, and the Americas contribute $107 million

Washington, May 23, 2017 – Financial technology innovator R3 has completed the first two of three tranches in its Series A fundraising round, securing $107 million in the world’s largest investment in distributed ledger technology (DLT) to date. R3 is the largest consortium of global financial institutions collaborating to develop a platform and commercial applications for financial services on DLT.

This unprecedented transaction – involving a consortium of more than 40 global financial institutions and other companies from across Europe, Asia-Pacific and the Americas – will allow R3 to continue to build enterprise software on a DLT platform. DLT is expected to become the next generation of financial services infrastructure.

The third and final tranche opens later this year and will be accessible to R3 members and non-R3 institutional investors.

Crowell & Moring is serving as lead legal counsel to R3 in this deal. The team is led by Corporate partner Mitchell L. Rabinowitz, and includes Paul J. Pollock, Jennifer A. Ray, Sean-Paul Brankin, Scott Lessne, Jenny E. Cieplak, Masha Smith, Paolo Cioppa, Jennifer Rodriguez, and Simon Leefatt.

The R3 press release is here. A video announcement from R3 CEO David E. Rutter is available here.

Insights

Firm News | 1 min read | 09.18.26

Crowell Advises the Gold Family on the Disposal of a 24.9% Shareholding in West Ham United Football Club

London – September 18, 2026: Crowell & Moring advised the Gold Family on the successful disposal of a 24.9% interest in WH Holding Limited, the holding company of West Ham United Football Club. The Gold Family originally agreed to sell its shareholding to a consortium comprising PCP Capital Partners, led by Amanda Staveley and Mehrdad Ghodoussi, and Ashland Forest Capital Partners. However, the proposed sale was subject to the pre-emption rights of the existing shareholders (including Daniel Kretinsky), who exercised those rights in full in September 2026 and subsequently completed the acquisition. The Crowell team was led by London corporate partner Simon Evers, counsel Stephen Bowman, and associate Emily McGovern....

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