Digital rights business and ASX outcast Animoca Brands has secured a whopping $US5 billion valuation in a funding round involving some Wall Street heavyweights and strategic investors.
Animoca, a $120 million ASX-listed tiddler less than two years ago and which still has a bunch of Australian shareholders, has ruled off a $US358.9 million private raising at a $US5 billion valuation, winning the support of some potentially influential new investors.
The raising was led by New York venture capital fund Liberty City Ventures, and saw investments from George Soros’ Soros Funds Management, Alibaba’s Gobi Partners, growth equity fund 10T Holdings, the Winklevoss twins’ Gemini Frontier Fund and Winklevoss Capital, Sequoia China and south-east Asia focused Smile Group. Capital raised would be used to fund strategic acquisitions and investments, product development and licenses for popular intellectual properties, the cypto gaming group said., and comes after the now unlisted company publicly released unaudited numbers that showed growth in its operating business and portfolio of digital assets., some of who were concerned by the lack of financial information since the group delisted, it had bookings worth $184.4 million for the nine months to September 30, earned other income of $697.6 million including gains on investments and digital assets, was holding $49.9 million cash and $155.7 million of digital assets including bitcoin, ethereum, USDC, BUSD, BNB and USDT. The biggest number, though, was the company’s reserves of digital assets said to be worth $US2.9 billion at September 30 and $US15.9 billion at the end of November. The raising, at a $US5 billion valuation, would imply a significant discount to the mooted digital assets reserves. It comes as Animoca says it is working to build the open metaverse by taking digital property rights to online users through the use of blockchain and NFTs.said: “We have set ourselves the ambitious goals of building an open Web3 and facilitating an open metaverse that expands financial inclusion. “In 2021 we saw tremendous growth in this space and Animoca Brands has been one of the forefront leaders in the development of this industry. We believe we are still at the initial stages of a new Internet revolution, and there are tremendous opportunities ahead of us in 2022 and beyond.” It also comes as Animoca Brands early backer and long time corporate advisor, Simon Doherty, joined the company to advise on its capital markets and corporate initiatives.
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