According to a story published by Nikkei Asia, the Hong Kong-based blockchain gaming organization Animoca Brands intends to build a fund of up to $2 billion to invest in companies related to the metaverse. This information comes from Yat Siu, the company’s co-founder and Executive Chairman.
According to Siu, the name of the fund will be Animoca Capital, and while it has not yet raised any capital, its target value would be somewhere between one and two billion dollars.
The company has broken the record for the most investments made in the cryptocurrency market in the first half of 2022, having completed an astounding 66 deals.
Instead of focusing on maximizing financial returns, Animoca Capital will give priority to making strategic investments that will foster the growth of a Web3 ecosystem and the establishment of a vibrant market. According to Siu, the fund would provide an advantageous point of entry for all Web3 businesses.
In Siu’s words:
“For a lot of traditional investors, investing in growth [stage] to a late stage is safer. It’s very different from investing in a seed startup, which has much higher risk.”
According to Siu, everything would revolve around digital property rights, and he was referring to enterprises operating in the NFT metaverse and the open metaverse. He went on to say that there will be no constraints placed on investment targets based on their location.
After receiving $75.3 million in funding in July, Animoca Brands was subsequently valued at $5.9 billion. The company was able to raise $110 million from investors early in the month of September, including Temasek and GGV Capital, in addition to receiving an infusion of $21 million later in the month.
