To Raise $2 Billion Fund For Its Metaverse November 30, 2022

Hong Kong-based blockchain gaming group Animoca Brands has announced to raised $2 billion fund to invest in company’s metaverse business.

In an interview with Nikkei Asia in Tokyo, Amiimoca co-founder Yat Siu said the company now plans to launch a fund called Animoca Capital.

"We are thinking about a fund and its target is $1 billion to $2 billion,” Siu said.

Siu and his fund manager partner will oversee the account, however, the first investment of the fund is expected next year.

Referring to NFT and open metaverse businesses, Siu said the focus will be on digital property rights.

There will be no geographical restrictions for investment targets, he also said.

Founded in 2014, Animoca has been seen as a trailblazer of Web3 and has made about 380 investments in Web3 businesses such as OpenSea and Dapper Labs.