Animoca Brands raises $75 million more, reaching a valuation of $5.9 billion

    13 Jul 2022

    Animoca Brands, a Hong Kong-based gaming software and venture capital company, has completed a $75.32 million raise at a pre-money valuation of $5.9 billion, the company said Tuesday. The raise is the second part of a funding round, bringing in $358.88 million.

    In January, the company hit a valuation of more than $5 billion after raising $358.88 million in new funding. The current funding is the second tranche of this funding, which was done for due diligence.

    Investors included Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, Cosmic Summit Investments Limited, and others. Liberty City Ventures had led the round in January.

    “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,” Emil Woods, managing partner of Liberty City Ventures, said in a statement.

    The company executed subscription agreements with investors to raise the money at a subscription price of approximately $3.03 per share for a total of 23,237,058 new shares.

    According to the company statement, Animoca Brands will have 1,836,142,334 fully paid ordinary shares on issue following this raise.

    The new capital will 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, according to a statement from the company.

    “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,” Yat Siu, co-founder and executive chairman of Animoca Brands, stated.

    Animoca Brands’ portfolio contains more than 150 NFT-related projects, including the play-to-earn game Axie Infinity, Dapper Labs (the company behind NBA Top Shot), Yuga Labs (behind Bored Ape Yacht Club), and OpenSea, the largest NFT trading platform. Animoca also has a majority stake in the metaverse game The Sandbox.

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