Animoca Brands raises $100 million from Singapore’s state-owned holding company Temasek

According to Bloomberg, the deal was done by issuing convertible bonds

31.08.2022 - 12:10

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What’s new? Animoca Brands, a developer and operator of blockchain games, received $100 million from one of Asia’s largest investment firms, Singapore-based Temasek, a state-owned holding company. It is reported by Bloomberg, citing its own sources.

News on the Bloomberg website

What other data has been released? According to Bloomberg, the fundraising took place through the issue of convertible bonds, which the Temasek fund should buy in the future. In this, any of the parties yet did not comment on this information to the agency.

Previously, Temasek representatives noted that they do not invest in cryptocurrencies directly, preferring instead to support service providers in this industry.

What is known about the parties to the deal? Animoca Brands was founded in 2014 in Hong Kong. Its portfolio includes games such as CryptoKitties, Power Rangers, Axie Infinity, Beast Quest, Pretty Pet Salon, RollerCoaster Tycoon, Star Girl, and F1 Delta Time, as well as The Sandbox metaverse. Animoca shares are traded on the Australian Stock Exchange under the ticker AB1. As of August 31, the price per share is $0,124, according to Investing.com.

Temasek Holding was founded in 1974 and has 12 offices worldwide as of March 31, 2022. It has $288,508 billion in assets in its portfolio from such industries as financial services, transportation and industrial, media and technology, consumer products and real estate, agriculture and bioscience.

In January, Animoca Brands raised $358 million from Winklevoss Capital, Sequoia China, Gemini Frontier Fund, 10T Holdings, Soros Fund Management, C Ventures, Pacific Century Group, and others. The funding was to be used for further expansion of the company, including new partnerships and strategic investments. Key priorities included the creation of Web 3.0 and the development of an open metaverse.

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