Metaverse-focused gaming and investment firm Animoca Brands is closing in on a major boost from private equity firm KKR.
KKR is in talks to lift Animoca’s latest funding round to $500 million from $359 million at a $5.4 billion valuation.
Animoca created the metaverse platform “The Sandbox” and blockchain-based game “Olympic Games Jam: Beijing 2022.” It has investments in Fan Controlled Football and NBA Top Shot.
- The round, announced in January, was led by Liberty City Ventures and included the Winklevoss twins and investor George Soros.
- Animoca raised $88.8 million at a $1 billion valuation in May 2021.
- It is already eyeing another funding round this year at a $10 billion valuation.
The TL;DR on KKR
The New York-based investment firm is in the midst of a complex bid for Italian telecommunications giant Telecom Italia, which holds Serie A broadcast rights.
It has recently loaded up on fitness investments, buying European cycling company Accell Group NV in January for $1.8 billion and taking on a $396 million stake in PureGym the previous month.
In September, it sold off its $852 million stake in Academy Sports.
Earlier this month, it announced an investment in high school sports media and technology company PlayOn! Sports.