Animoca Brands Launches $2 Billion Funds to Invest in Metaverse

Reportedly, Animoca Brands, the Hong-Kong based game software company founded by Yat Siu, is planning to raise funds up to $2 billion to invest in the metaverse business.

In an interview, the Chairman announced that the company has planned to launch the fund, “Animoca Capital” to contribute to the metaverse. He added, “We are thinking about a fund [that is now] forming.” Though the company expects to raise an amount between $1 billion to $2 billion, it has been decided to have the first investment only the next year.

While analyzing the history of Animoca Brands, the company has raised funds several times. Tracing back to the previous year, over the course of 2021, the company had raised $216.25 million to contribute to its digital property rights.

Similarly, in July 2022, a capital raise of $75.32 million had been raised by Animoca Brands while the company stated that the fund will be used to advance open metaverse:

Animoca Brands 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, including through its efforts to promote digital property rights for online users.

Currently, the Chairman explained that the recent funding is focused on digital property rights, referring to the “open metaverse” and “NFT metaverse,” though the key focus is to “develop the ecosystem.”

In addition, Siu said that the raise would facilitate more investors to access Web3 companies. As many Animoca investors want exposure to mid-late-stage companies, the role of the fund is to provide such necessities.

Furthermore, he stated that the fund will also be aimed at “equity optimization,” stating that “as a fund, you optimize for return, so it’s different.”

Source