Temasek and Boyu Capital lead blockchain gaming giant Animoca Brands’ US$110m raise

ANIMOCA Brands, which develops a broad portfolio of Web3 games and intellectual property, has raised US$110 million led by Singapore state investor Temasek and private equity firm Boyu Capital.

Other investors included venture capital firm GGV Capital and blockchain investor True Global Ventures (TGV), a backer of Animoca Brands since 2019.

TGV made a US$17.2 million convertible note investment through 2 funds – the True Global Ventures 4 Plus (TGV 4 Plus) Fund and the recently closed TGV 4 Plus Follow On Fund.

The latest round of funding follows Animoca Brands’ July announcement of a US$75.32 million fundraise, and comes despite a crypto winter that wiped US$2 trillion off the market.

The Hong Kong company, founded in January 2014 by Yat Siu and David Kim, is the publisher of popular Web3 game The Sandbox and has a portfolio of over 340 investments including Axie Infinity and OpenSea.

Animoca Brands has offices and subsidiaries in the United States, Canada, Argentina, South Korea, Finland, Estonia, France, Germany, Australia, and the Czech Republic. According to its website, it employed over 700 people as of June 7.