Hong Kong gaming firm Animoca Brands raises $358.89M at $5B valuation to grow the open metaverse

Animoca Brands has completed a capital raise of $358.89 million at a pre-money valuation of $5 billion. The round was led by Liberty City Ventures, with other investors including 10T Holdings, C Ventures, Delta Fund, Gemini Frontier Fund, Gobi Partners Greater Bay Area, Kingsway, L2 Capital, Mirae Asset, Pacific Century Group, ParaFi Capital, Provident, Senator Investment Group, Sequoia China, Smile Group, Stable Asset Management, Soros Fund Management, Wildcat Capital Management, Winklevoss Capital, and others, Animoca Brands said in a statement. The new capital will be used to continue funding strategic acquisitions and investments, product development, and licenses for popular intellectual properties.