Temasek to Head $100 Million Funding Round for Leading Blockchain Investor Animoca Brands

According to reports, Singapore's state investment fund Temasek will lead a $100 million financing round for Animoca Brands.

Sep 1, 2022
by Akira Ming
Temasek to Head $100 Million Funding Round for Leading Blockchain Investor Animoca Brands
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Leaked sources say Temasek will be heading Animoca Brands' upcoming $100 million funding round

According to a Bloomberg report on Monday, Singapore's state investment firm, Temasek, is leading a $100 million funding for blockchain gaming giant Animoca Brands. The sovereign wealth fund will lead the round through convertible bonds, said people familiar with the matter. 

If this goes through, the fresh funds will add to Animoca Brand's first round of funding announced in January. Back then, the Hong Kong startup secured $359 million from prominent backers like George Soros and the Winklevoss twins. It then went on to raise another $75 million in July, bringing the company's total valuation to $5.9 billion. 

For a start, Temasek doesn't invest directly in cryptocurrencies. But instead, it prefers to back promising service providers in the space. The state fund, for instance, took part in a $200 million funding round for crypto lender Amber Group in February. Then, proceeded to lead Immutable's $200 million Series C funding at a valuation of $2.5 billion in March. 

Neither Temasek nor Animoca Brands has confirmed news about the $100 million funding round so far. The CEO of Animoca Brands, Yat Siu, told Bloomberg that the firm would take advantage of the crypto downturn, by buying up stakes in industry players and digital tokens. What's more, it will go public in two to three years, depending on the market's acceptance of its core business of selling crypto tokens and taking a cut from secondary transactions. 

With a growing portfolio of more then 340 investments, Animoca Brands is surely one of the fastest-growing firms in Web3. The company recently participated in a $45 million funding round for Animoca Brands KK, together with MUFG Bank, one of the oldest banks in Japan. In July, the leading blockchain investor led a $32 million Series A funding round for Planteraium Labs and co-led a $41 million Series C funding round together with Kingsway Capital for Klang Games.

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