Singapore state-backed fund is leading a US$100 million funding round into Hong Kong-based blockchain and game venture Animoca Brands, Bloomberg reported.
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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.
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