Animoca Brands acquires more than $75 million at $5.9 billion valuation

The new capital raised from the second tranche of a funding round will be used for strategic acquisitions, investments and more.

Jul 12, 2022
by Dragan
Animoca Brands acquires more than $75 million at $5.9 billion valuation
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Animoca Brands, one of the leading investors in blockchain gaming, has successfully closed the second tranche of a funding round announced back in January this year, acquiring $75.32 million at a $5.9 billion valuation. The raise took longer than initially planned to close as a result of due diligence processes.

The following investors participated in this tranche: Alpha Wave Ventures, Kingsway Capital, Generation Highway Ltd, Liberty City Ventures, SG Spring Limited Partnership Fund, Cosmic Summit Investments Limited, 10T and more.

Co-founder and executive chairman of Animoca Brands, Yat Siu, said the following in the announcement post:

“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. We are deeply honoured to continue to enjoy strong support from investors as we work to solidify the leadership position of Animoca Brands in the Web3 industry and in the field of true digital ownership.”

Funds raised will be used for investments, strategic acquisitions, product development, for securing licenses for well-known IP and further advancing the “open metaverse” by promoting “digital property rights for online users.”

This raise was done at a subscription price of A$4.50 per share, amounting to a total of 23,237,058 new shares. The Hong-Kong based investment firm will now have total 1,836,142,334 fully paid ordinary shares on issue.

The managing partner of Liberty City Ventures, Emil Woods, said:

“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. We are proud to support Animoca Brands, a highly talented team of visionaries and builders at the forefront of this movement to embrace and fulfil the promise of Web3.”

Animoca Brands recently led a $32 million Series A funding round for Planteraium Labs while co-leading a $41 million Series C funding round together with Kingsway Capital for Klang Games. Planetarium is known for its open-source idle RPG Nine Chronicles running on their own Libplanet blockchain technology designed to allow everyone to create decentralized crypto games using the Unity game engine, while Klang Games is working on an MMO simulation called SEED using Improbable’s SpatialOS platform.

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