Animoca Brands, a Hong Kong based gaming and venture capital company, has completed a $75.32 million raise at a pre-money valuation of $5.9 billion, the company announced on Tuesday.
In January, the company hit a valuation of more than $5 billion after raising $358.88 million in new funding. The current funding is a second tranche of this funding, which was done for due diligence.
Investors included Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, Cosmic Summit Investments Limited, and others. Liberty City Ventures had led the round in January.
“Over the next decade, humanity will discover and embrace the game changing power that blockchain based digital ownership of assets will bring to countless aspects of daily life,” said Emil Woods, managing partner of Liberty City Ventures, in a statement.
The company executed subscription agreements with investors to raise the money at a subscription price of A$4.50 (approximately $3.03 USD) per share, for a total of 23,237,058 new shares. Following this raise, Animoca Brands will have a total of 1,836,142,334 fully paid ordinary shares on issue, according to the company statement.
The new capital will be used to continue to fund strategic acquisitions, investments, and product development, secure licenses for popular intellectual properties, and advance the open metaverse, including through its efforts to promote digital property rights for online users, according to a statement from the company.
“Digital property rights represent a society-defining generational shift that impacts everyone online and will set the stage for the emergence of the open metaverse,” said Yat Siu, co-founder and executive chairman of Animoca Brands, in a statement.
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Source: https://www.theblock.co/post/156783/animoca-brands-raises-75-million-at-pre-money-valuation-of-5-9-billion?utm_source=rss&utm_medium=rss