Animoca Brands is at it again. The mega fundraiser, yes. The blockchain gaming and metaverse focused company is a powerhouse in crypto startups and has just landed another big crop – US$110 million.
The Hong Kong-based, Australia-incorporated company announced today that the massive amount of funding has been raised by a small group of institutional investors with extremely deep pockets.
The increase was led by Singaporean firm Temasek (net portfolio of US$297 billion), as well as Asian-focused management firm Boyu Capital (US$40 billion+ assets under management), and global venture capital firm GGV Capital (US$9.2 billion AUM). ).
Existing investors Mirae Asset Management and True Global Ventures also participated in the round.
According to Animoca Brands, who you know from several earlier coin head also happens to be a leading publisher of NFT games (see further below), the fundraiser took the form of a sale of convertible bonds issued at a conversion price of AUD$4.50.
(However, it is subject to conditions related to a potential initial public offering (IPO), liquidation event (sale or merger), or equity financing round.)
Animoca Brands says it will “use the new capital to continue to fund strategic acquisitions, investments and product development, secure licenses for popular intellectual properties, and advance the open metaverse.”
The latter includes Animoca Brands’ broad efforts to promote digital property rights for online users, for example through the use of non-fungible tokens (NFTs).
This strategic consortium of new investors will also provide advice on business issues and capital to Animoca Brands as it continues to grow and build.
Last time we checked, after the last similar big fundraiser in July, Animoca Brands was valued at something like $5.9 billion. This increase, not to mention the recent $45 million cash injection by Animoca Japan, would now push its valuation firmly above that mark.
Over 380 investments, Animoca Brands is on a Web3 mission
Under several major crypto titles, including REVV Motorsport and Crazy Defense Heroes, Animoca Brands is the publisher of one of the largest brand-attracting metaverse gaming platforms in existence – The Sandbox (SAND).
The Sandbox is an industry powerhouse in its own right and is aligned with key intellectual properties including Disney, WWE, The Walking Dead, MotoGP™, Power Rangers and Formula E, among many others. Actually HSBC, Snoop Dogg and now Renault too, which for some reason seems nice to put side by side in one sentence.
Other Animoca Brands subsidiaries include Blowfish Studios (which publishes Phantom Galaxies), Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Grease Monkey Games (Torque Drift 2), Eden Games, Darewise Entertainment (which publishes the upcoming blockchain MMORPG Life Beyond), Notre Game, TinyTap and Be Media (who recently launched the AFL’s Ripper Skipper 2022 NFTs).
Regarding the increase, Yat Siu, Co-Founder and Executive Chairman of Animoca Brands, said: “We are incredibly excited to complete a special strategic fundraising round comprising some of the most respected institutional investors in the world, and we are honored by the continued support of existing investors.
“Animoca Brands has grown significantly as a company over the past year, and our new investors will contribute strategic advice and perspective as we build the world’s leading company promoting digital property rights in the Web3 industry.”
If you followed coin head for a while you will know that Animoca Brands has its digital fingers in multiple tasty metaversal and crypto gaming pies. It now has a portfolio of more than 380 investments, such as Colossal, SkyMavis/Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony and Alien Worlds.
Several investments from Animoca Brands have become big hits in the crypto industry, most notably due to the bull run late last year.
This article was developed in collaboration with Animoca Brands, an advertiser of Stockhead at the time of publication.
This article is not financial product advice. You should consider seeking independent advice before making financial decisions.