Animoca Brands plans to create a fund of up to $2 billion to invest in businesses in the metaverse. Animoca known for some of his projects, such as The Sandbox, series Revv Motorsports and hundreds of investments in crypto games. Investors Animoca made by the Singapore State Foundation Temasek, GGV Capital from the USA and South Korean Mirae Asset Management. At the time of the last fundraiser Animoca valued at over $5 billion.
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Yat Siu said the fund will provide investors with more opportunities to access Web3 companies. According to him, some investors Animoca sought to gain access to portfolio companies, but now want more direct investment. The Foundation will be a good "starting point" for business in the metaverses. For many traditional investors, investing in late stage growth is safer. This is very different from investing in a seed startup, which carries higher risks.
Despite the crypto winter and the latest biggest FTX crash, Animoca enjoys the confidence of investors and so in January raised $358 million, and in September $110 million.
Animoca Brands founded in 2014 in Hong Kong, is considered the pioneer of Web3, develops and distributes free games and applications of various classes. Animoca was originally listed on the Australian Securities Exchange in 2015 but was delisted in 2020 as the exchange cited non-compliance. The company has made about 380 investments in Web3 projects such as the NFT aftermarket platform OpenSea and Dapper Labs.
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