Animoca Brands Raises $360M, Valued at $5.4B

Software and venture firm Animoca Brands has raised $360 million in new funding, valuing the investor in Fan Controlled Football and NBA Top Shot at $5.4 billion. 

The round, led by Liberty City Ventures, will provide the Hong Kong-based company with fresh capital to build an open metaverse, fund strategic acquisitions, and secure licenses for popular IP. 

Animoca Brands has investments in more than 150 NFT, metaverse, and blockchain companies, having raised roughly $700 million in total capital. 

• Last May, the company raised $88.8 million during a two-part funding round, valuing the business at around $1 billion.
• It completed part two of the round last July, raising an additional $50 million from a group of investors including Samsung and mobile game developer Scopely. 
• In October 2021, the company raised $65 million during a round, which included Sequoia Capital and French video game studio Ubisoft.
• SoftBank Vision Fund 2 led a $93 million investment in the company and its mobile game brand The Sandbox last November. 

Work in Progress

Animoca Brands posted $141 million in bookings and income of $530 million in Q3 2021, while its digital reserves were valued at $16 billion at the end of November.

The company was delisted from the Australian Stock Exchange in March 2020 due to a breach in listing rules fueled by “involvement in cryptocurrency-related activities.”