Singapore state-backed fund is leading a US$100 million funding round into Hong Kong-based blockchain and game venture Animoca Brands, Bloomberg reported.
See related article: Singapore’s Temasek says doesn’t own Bitcoin, but prepping for tokenized assets
Fast facts
Temasek will make the investment through convertible bonds, according to unnamed sources cited by Bloomberg.
Temasek has been an active investor in the crypto industry despite the 70% slump in the crypto market’s capitalization to around US$790 billion earlier this year from an all-time high of about US$3 trillion last November
Earlier this year, Temasek led Amber Group’s US$200 million funding round and NFT startup Immutable’s US$200 million Series C.
Animoca Brands raised its valuation to US$5.9 billion after a US$75 million fundraising round in July, which was its fifth financing round since 2021.
See related article: Animoca says crypto winter ‘a great time’ for venture capitalists
