Hong Kong firm Animoca Brands announced it had secured $110 million in a funding round. The round led Temasek and venture capital firms Boyu Capital and GGV Capital, as well as existing investors Mirae Asset Management and True Global Ventures (TGV).
Related: Animoca Brands completes a capital raise of $75 million for open metaverse
Animoca Brands is known for its virtual gaming world, The Sandbox. The brand drew many companies’ attention with its metaverse and blockchain investments. In July 2022, the company announced it had raised $75.32 million in capital for the open metaverse.
In the official press release, Animoca Brands explained the company would use the new capital to continue funding strategic acquisitions, investments, and product development. It will also secure licenses for popular intellectual properties and advance the open metaverse. This includes efforts to promote digital property rights for online users.
Yat Siu, co-founder and executive chairman of Animoca Brands, commented:
“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 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.”
Animoca Brands has invested in companies in the industry, such as Dapper, OpenSea, Magic Eden, Niftys, and Flow. The company has portfolio investments worth 1.5 billion dollars in more than 340 companies.
On the other hand, Temasek invested $450 million in blockchain startup ConsenSys with SoftBank and Microsoft in March 2022. The Singaporean giant also participated in the $200 million investment tour of crypto loan company Amber Group in February 2022.
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