Temasek Will Raise $100 Million For The Animoca Brand

Temasek Will Raise $100 Million For The Animoca Brand

A $100 million capital raise is in the works for Temasek Holdings, a Singaporean government-owned firm. Bloomberg claims this money will go to Animoca Brands, a venture capital firm.

Temasek Will Use Floatable Funds

According to a source who talked off the record with Bloomberg, Temasek plans to use convertible bonds as the primary financing vehicle. Animoca Brands, a Hong Kong-based company, revealed in January that it had raised approximately $359 million in a fundraising round.

Notable backers were the Winklevoss twins and George Soros. The company Animoca raised an additional $75 million in investment in July.

The company was valued at more than $5.5 billion after this fundraising round. There is a chance that the latest round of fundraising will add to the company’s initial funding and boost its valuation.

Even while this was being announced, the cryptocurrency market continued its steady slide. Providing Animoca keeps growing as the cryptocurrency industry does, this may be a huge boon for the business.

In the meantime, Animoca Brands is a backer of NFTs, metaverses, and blockchain-based games. The business’s portfolio now includes social networking, banking, and gaming operations, all of which have been growing recently.

Animoca Brands’ Hong Kong-based CEO, Yat Siu, told Be[In]Crypto that the company’s mission is to ensure individual ownership of digital works. It hopes to end the hegemony of Microsoft and Meta, among other internet giants.

They have not yet made any statements on the fundraising.

Siu has previously stated that the corporation was content with the confidence demonstrated by investors. Despite the fact that the crypto winter has harmed a number of businesses, this remains true.

However, Temasek’s current investment strategy fits in with its overall time frame. Pradyumna Agrawal, MD for blockchain at Temasek, has previously stated the firm’s enthusiasm for the cryptocurrency market in an interview.

Agrawal claims the firm has wide-ranging interests including the financial sector, the gaming industry, and social media. The company sees great opportunity in new markets like the social media industry.

Since then, neither party to the trade has commented publicly on the matter. Nonetheless, Temasek’s investment of more over $15 million was reported in a file made just last week.

Fi is a neobanking platform, and the investment was made in its Series C capital round. V-Sciences Investments was the intermediary through which Temasek provided funding.

Temasek typically uses V-Sciences Investment to channel its crypto platform investment requests. Moreover, in February, the firm contributed over $200 million to Amber Group’s $3 billion funding round.

At the same time, Singapore’s regulatory environment has been extremely light. The inadequate condition of crypto regulation in the country was recently exposed by the bankruptcies of 3AC, Hodlnaut, and Vauld. However, the government is getting ready to establish a complete crypto regulatory framework.

Orizu Augustine
Orizu Augustine is an experienced crypto writer working for Alltechcraft. Having passion for writing, he covers news articles from blockchain to cryptocurrency and iPhone and Samsung related articles.