Animoca Brands Hits Pre-Money Valuation of $5.9B Following $75M Fundraise

With the fresh funding, Animoca Brands now has a higher valuation than it did before the crypto winter.
Image source: Animoca Brands

Quick take:

  • The latest raise is the second part of funding previously announced on Jan 18.
  • The new capital will be used to continue funding strategic acquisitions, investments, and product development.
  • The funds were raised to advance Animoca’s vision of the open metaverse.

Hong Kong-based blockchain gaming and venture capital firm, Animoca Brands, today announced that it has raised $75.32 million at a pre-money valuation of $5.9 billion, higher than the valuation of $5 billion it had in January.

The latest raise is the second tranche of funding previously announced on January 18, when the company raised $359 million led by Liberty City Ventures. The funding was extended for due diligence processes.

On Jun 30, it was revealed that Animoca Brands was convicted and fined by the Australian Securities and Investment Commission (ASIC) for failing to comply with financial reporting obligations.

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

The new capital will be used to continue funding strategic acquisitions, investments, and product development, secure licenses for popular intellectual properties, and advance the open metaverse, including through Animoca’s efforts to promote digital property rights for online users.

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

For this raise, Animoca Brands executed Subscription Agreements with sophisticated and professional investors to raise a total of US$75.32 million (approximately A$104.57 million) at a subscription price of A$4.50 per share, for a total of 23,237,058 new shares. Following this raise, Animoca Brands will have a total of 1,836,142,334 fully paid ordinary shares on issue.

Animoca Brands is the parent company of popular metaverse platform, The Sandbox, and has a portfolio of over 340 investments in the Web3 space with $1.5 billion worth of assets under management. The company also has multiple subsidiaries including Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Grease Monkey Games, Eden Games, Darewise, Notre Game, and TinyTap.

“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 fulfill the promise of Web3,” said Emil Woods, managing partner of Liberty City Ventures.

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