NBA Top Shot Investor Raises $110M, Valued at Over $5B

Software and venture firm Animoca Brands has raised $110 million, valuing the MotoGP partner and NBA Top Shot investor at more than $5 billion. 

Led by global investment company Temasek, the strategic funding round included existing investors Mirae Asset Management and True Global Ventures. 

New investors Boyu Capital and GGV Capital also participated in the round and will serve as advisors to the Hong Kong-based firm as it expands its reach and capabilities.

• The capital comes from the issuance of convertible notes to a group of institutional investors.
• The raise is subject to conditions regarding a potential merger, sale, IPO, or equity round. 

Animoca Brands — also an investor in Fan Controlled Football — will use the influx of capital to fund acquisitions, investments, product development, and secure new IP. 

In January, Animoca Brands — which owns more than 340 gaming, social media, and finance companies —  raised $359 million in a funding round led by VC firm Liberty City Ventures. 

In July, the firm closed a $75 million round to advance its vision of an open metaverse. 

To date, Animoca Brands has raised $775.3 million across 21 funding rounds that included 15 lead investors, per Crunchbase. 

For the Kids 

In June, kid-focused social media app Zigazoo raised $17 million, valuing the business at around $100 million.

The round — led by Liberty City Ventures — included the NBA, Animoca Brands, NBA Top Shot-creator Dapper Labs, and German soccer company OneFootball.