Animoca completes $110 million funding round

Animoca completes $110 million funding round

Animoca Brands, which has an important role in the metaverse and blockchain gaming industry, has officially announced the details of a funding round led by Singapore’s official investor Temasek.

Animoca announced on Thursday that it has closed a $110 million funding round to a small number of institutional investors.

The funding round included companies such as Temasek, private equity firm Boyu Capital, and global venture capital firm GGV Capital. While these companies continue to grow and build their organizational structure, they have also formed a strategic consortium of new investors who aim to advise the company.

According to the announcement, Temasek, Boyu and GGV are now expected to advise Animoca on a broad spectrum, as well as provide business and capital gains support.

Additionally, existing investors in the funding round included South Korean investment firm Mirae Asset Management and venture capital firm True Global Ventures.

Animoca Brands plans to use the new funds to continue investments in strategic acquisitions, develop new products and create secure licenses for intellectual property. The company also aims to support the digital property rights of online users and advance advancements in the metaverse database.

Yat Siu, co-founder of Animoca Brands, highlighted the importance of major global institutions’ participation in the funding round and said:

“As we establish the world’s leading company that develops digital property rights in the web3 industry, our new investors will contribute to our company with their advice and consultancy.”

Reports of Animoca’s funding round first surfaced in late August, with anonymous sources claiming that Temasek will lead a $100 million round for Animoca.

You may be interested: PANONY closes Series A funding round at $100 million valuation

Temasek is a prominent crypto investor, participating in multiple investment rounds for major crypto companies, including Binance and Amber Group. Temasek International chief investment officer Rohit Sipahimalani said the firm does not invest directly in crypto, but instead focuses on investing in crypto-related projects. stressed.

“We do not directly invest in crypto, but some of the funds we invest in may include crypto projects,” Sipahimalani said in July 2022.

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