Animoca Brands Raises $110 Million From Investors

• The business has funded more than 300 startups, including Web3 and NFT firms.
• A $359 million deal in January gave it a valuation of more than $5 billion.

Institutional investors Temasek, Boyu Capital, and GGV Capital spearheaded the $110 million investment round for Animoca Brands, a major investor in NFT and metaverse-centric firms, which was disclosed recently.

Although it is subject to conditions relating to a potential future initial public offering (IPO), liquidation event (such as merger or sale), or equity financing round, the Australian company claims that the fundraising was carried out as a sale of convertible notes issued at a conversion price of AUD $4.50 (just over US$3.00).

Focusing on Web3 and NFT Sector

Besides new investors, existing investors Mirae Asset Management and True Global Ventures also contributed to this round. The convertible notes offering values Animoca “similarly to its previous funding round,” the $75 million Series D round disclosed in July, at which time the company was valued at $5.9 billion.

Crunchbase reports that the business has received a total of $775 million over the course of many investment rounds, including a $359 million deal in January that gave it a value of more than $5 billion.

The co-founder and Executive Chairman Yat Siu stated:

“Animoca Brands has grown significantly as a company in the last year, and our new investors will contribute strategic advice and perspective as we build the world’s leading company furthering digital property rights in the Web3 industry.”

According to a recent Bloomberg article, the business has funded more than 300 startups, including some successful Web3 and NFT companies such as NBA Top Shot and Flow blockchain inventor Dapper Labs, top NFT marketplace OpenSea, and Axie Infinity games developer Sky Mavis.

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