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Animoca Brands Secures $110M to Build Open Metaverse

Posted September 9, 2022 4:38 pm
2 min
By Jethro Sandico

Software developer and venture capital company Animoca Brands secured another $110 million in capital from a new strategic funding round, the group announced on September 8, 2022.

Boyu Capital, GGV Capital, and Temasek, as well as existing partners Mirae Asset Management and True Global Ventures (TGV), joined the pool of investors.

The company will use the new fundraise to support investments, product development, and strategic acquisitions. A part of the budget will also help advance the open metaverse. Additionally, the team plans to introduce secure licenses for intellectual properties, and advocate digital property rights for online users.

“We are incredibly pleased to complete a special strategic round of fundraising comprising several of the most respected institutional investors in the world, and we are honored by the continued support from existing investors,” Animoca Brands Co-Founder and Executive Chairman Yat Siu said in a statement.

Animoca issued US$110 million in convertible notes (at a conversion price of A$4.50 or US$3) to the institutional investors. The notes have a maturity of three years from the date of issuance. 

The raised capital is a significant addition to the $75 million that the blockchain proponent raised in mid-July.

About Animoca Brands

Animoca Brands is a Hong Kong-based game software and venture capital company. Founded in 2014 by entrepreneur/angel investor Yat Siu, Animoca has become one of the leaders in the world of digital entertainment and games.

The company is behind the development and publication of titles such as The Sandbox, Crazy Kings, and Crazy Defense Heroes. They have also released products utilizing the Intellectual Properties (IP) of brands. This includes Disney, Formula E, Manchester City FC,  Moto GP, Power Rangers, and The Walking Dead, among others.

Animoca’s expansive list of subsidiaries include Blowfish Studios, GAMEE, Grease Monkey Games, nWay, Quidd, and many more. All in all, the brand has more than 340 investments. This includes projects such as Alien Worlds, Axie Infinity, Dapper Labs, and OpenSea, to name a few.

Currently, Animoca is backed by 78 entities, and has raised a total of $775.3 million over 21 rounds. The company has also invested in 236 companies including game developers Xterio, and Gunzilla Games. Additionally, Animoca Brands acquired 21 organizations such as Darewise Entertainment, Eden Games, and Tiny Tap, among others (per Crunchbase).

“Animoca Brands has grown significantly as a company in the last year, and our new investors will contribute strategic advice and perspective as we build the world’s leading company furthering digital property rights in the Web3 industry,” Siu said.

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