Animoca Brands Confirms $110 Million Funding Deal with Temasek, Boyu and CGV

Animoca Brands confirmed that it has closed a $110 million financing round led by Temasek, with participation from Boyu Capital and GGV Capital. Animoca said it will use the new capital to continue to fund strategic acquisitions, investments, and product development, secure licenses for popular intellectual properties and advance the "open metaverse," including through its efforts to promote digital property rights for online users. It is reported that the raise comes in the form of a convertible note issuance. The notes have a maturity date of three years from the date of issuance and may be converted at any time prior to that date at the election of the note holder.