Crypto giant Animoca Brands, now valued at $6 billion, is preparing for a new $100 million funding. The round will be led by Temasek, a Singapore’s state investment fund with net portfolio value of hundreds of billions of dollars.
Bloomberg reported the news on August 30, citing anonymous sources familiar with the matter.
The investment will be made through convertible bonds. However, other details about the funding and where Animoca Brands will allocate the money remain undisclosed.
Earlier this year, Animoca raised $75 million from Liberty City Ventures, Kingsway Capital, 10T, and others. It was a part of a funding round announced in January, when the company received $359 million from backers.
Animoca Brands wants to take advantage of the so-called “crypto winter”, which wiped out $2 trillion in digital asset value since November 2021. The Singaporean firm has already invested in over 340 companies and plans to go public in the next two to three years.
Temasek has been actively investing in the crypto industry, leading a $200 million funding round for crypto lender Amber Group in February. Its portfolio is now valued at over $400 billion.