Masterworks, the “elite alternative asset” that allowed investors to buy fractional shares of high-end paintings, scrapped a funding round amid concerns it could face regulatory scrutiny in the coming months, a source familiar with Masterworks’ thinking told On The Money. The company was valued at $1 billion in its Series A funding in October 2021, but faced an uphill battle to raise more money as the economy slows.
Source: Masterworks’ fractional art sales getting the brush off