Animoca Brands Raises $75M Reaching A Pre-Money Valuation Of $5.9B
- Animoca Brands has raised $75 million. according to reports
- The firm has reached a pre-money valuation of $5.9 billion
Animoca Brands, a Hong Kong-based game software company and venture capital (VC), has raised around $75 million in a new funding round. and reached a pre-money valutaion of $5.9 billion, according to a report from TheBlock.
As per the report, the firm, founded in 2014, has successfully raised $75.32 million. Interestingly, the firm had recently achieved a valuation of $5 billion after a successful funding round in January that brought $358.88 million in new funding.
The $75 million raise is the second part of January’s funding round, the report added.
“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.
Big names like Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, Cosmic Summit Investments Limited, and others marked their presence in the funding round.
The previous January round was led by Liberty City Ventures, a venture capital fund and incubator with over $1.5 billion of assets under management.
Furthermore, according to the company statement, Animoca Brands signed subscription agreements with the above mentioned investors as per which, a raise of A$4.50 (approximately $3.03 USD) in the subscription price per share was done for 23,237,058 new shares.
With this new raise, the 2014-founded venture capital now has 1,836,142,334 ordinary fully paid shares. The new capital raised by Animoca Brands amidst a bearish market will be used to fund the “strategic acquisitions, investments, and product development,” as per the report.
Animoca Brands will also acquire licenses for popular intellectual properties, and also captialize on the advancement of the metaverse.
“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.
Animoca Brands has been expanding quite aggresively despite the bearish market and it seems that the popularity of the metaverse among investors hasn’t died. Recently, The Sandbox partnered with Playboy and KEB Hana Bank as both the firms aim to capitalize on NFTs, metaverse, and Web 3.0.