Even though the R3 project looks very promising, not everybody agrees with the chosen approach. At the end of 2016, three of the major participants, Goldman Sachs, Banco Santander and Morgan Stanley, withdrew from R3. The reasons for their leave included disputes over terms of a prospective fundraising deal, competing interests and the outsized number of participants, what made the negotiations too difficult. Despite this, in Mav 2017, R3 informed the media that it had raised $107 million of funding for Corda. Even though it was the largest amount of venture capital invested in blockchain, the initial target of $200 million was not reached.