Animoca is a top investment firm and NFT publisher. It just added some institutional investors to its funds. Animoca Brands raised $110 Million through a convertible note sale to institutional investors. The firm invests in Web3 startups that are focused on an open, interoperable metaverse and publishes its own NFT-games.
Animoca Brands is a major investor in NFT-centric startups and metaverse. Today, it announced that it had raised \$110 million more in funding from new institutional investors Temasek and Boyu Capital.
The fundraise was described by the Australian firm as a sale convertible notes at AUD $4.50 (just under US$3.00 currently), but it is subject to conditions regarding a future possible initial public offering (IPO), liquidation (such as a merger or sale), and equity financing round.
Animoca brand has raised a total of $775 Million to date
Mirae Asset Management, True Global Ventures and existing investors also participated in the round. Animoca stated that the convertible notes sales value the firm “similarly” to its previous round of funding, which was valued at $5.9B . This valuation was announced in July by Animoca when it raised $75M .
According to Crunchbase data, the firm has raised $775 million in funding over several rounds. This includes a $359 Million raise announced in January which pushed the company past a $5 billion valuation.
Animoca Brands has rapidly grown in the web3 space
“Animoca Brands has experienced significant growth in the past year. Our new investors will provide strategic advice and perspective to help us build the world’s largest company supporting digital property rights in Web3,” Yat Siu, co-founder and executive chairman, said in a statement.
According to a Bloomberg report, the company has invested more than 300 startups. This includes a number prominent Web3 or NFT firms that have since made it big, such as NBA Top Shot and Flow creator Dapper Labs and OpenSea’s leading NFT marketplace OpenSea and Sky Mavis, creator of Axie Infinity.
Animoca Brands focuses on companies that are working towards a blockchain-centric, open metaverse. Siu explained this to Decrypt last Fall. He called Tencent and Facebook a “threat to an open metaverse” and stated that Animoca was in a hurry to establish interoperable tech to combat that perceived risk.
Animoca Brands invests in several Web3 gaming startups. Animoca also publishes its games, including the Ethereum-based metaverse game The Sandbox. This has attracted many celebrity and brand partners. Siu told Decrypt that Animoca recently purchased three more game studios.
