Animoca Brands set aside its $2 billion target for the first quarter of this year for the metaverse investment fund and decided to raise $1 billion.
Yat Siu’s Statement
Animoca Brands’ fundraising target range was previously stated by Siu to be between $1 and $2 billion. However, due to the collapse of the FTX and Animoca‘s inability to raise money for the new fund, Siu’s forecasts became questionable. So the lower end of the expected range, $1 billion, looks more realistic for Animoca’s target.
However, according to Siu‘s statements, the actual fundraising process will start in the first quarter of 2023. Finally, Siu noted that the market did not show much promise after the collapse of FTX, but there are still a lot of financing opportunities for the company.
Animoca’s Funding Options
Siu said Animoca recently completed a capital round for one of its portfolio companies, but he did not say which one. However, he said the funding came from “top-name, top-tier VCs.”
Siu was optimistic about Asia’s ability to lead the cryptocurrency industry throughout the interview, even announcing that his company has chosen Hong Kong instead of the United States as the best place for an IPO at the moment. As a result, Siu predicts that there will be more investments coming from Asia than from the United States, but predicts that there will continue to be a large number of financial sources interested in this area.
2 Comments