Insiders: Animoca Brands' metaverse fundraising target has been reduced to $800 million

2023-03-24 20:21:24

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ChainCatcher news, according to Reuters citing informed sources, Animoca Brands has lowered its fundraising target for the launched metaverse fund Animoca Capital to $800 million. Animoca Brands co-founder and CEO Yat Siu announced the launch of the fund in November 2022, with an initial fundraising target of $2 billion, which was later reduced to $1 billion in January 2023.

The crypto data platform RootData shows that Animoca Brands was valued at $5.9 billion when it completed a $75 million financing in 2022, with participation from institutions such as Liberty City Ventures, Alpha Wave Global, and 10T Holdings. However, according to two other informed sources, Animoca Brands' valuation in the secondary market has now dropped to below $2 billion. (Source link)

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