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Digital Arts Media Network in talks to buy stake in crowdfunding portal

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Digital Arts Media Network in talks to buy stake in crowdfunding portal

Technology accelerator Digital Arts Media Network Inc. is in talks to buy a strategic stake in StartEngine, a crowdfunding portal that allows accredited and non-accredited investors to provide funds to startup businesses.

StartEngine has raised about $35 million for its clients and has an estimated valuation of about $65 million, Digital Arts Media Network CEO Ajene Watson said in a statement. "This portal will give us the framework to truly offer end-to-end services to those startup and early-stage companies seeking traditional but accelerated capital formation, and/or, that wish to fully and legitimately leverage the 'crypto' market space," Watson added. He also indicated that Digital Arts Media may provide additional funding to StartEngine after the initial investment.

"I strongly believe this portal will become a centerpiece of our business model in how we onboard and initially fund companies, market and test a company's market acceptance and support the launch of properly developed blockchain and crypto related companies and projects," Watson said.