Raison invests in Animoca Brands

Investment manager Raison Asset Management has added Hong Kong company Animoca Brands to its portfolio. The transaction accrued on the secondary market, the amount was not disclosed. The stake was acquired with a discount to a previous round the startup had in July 2022.

Animoca Brands is a Hong Kong-based company founded in 2011 and actively tapping into the growing Web3 market. The company develops and distributes free games and applications, including NFT games F1 Delta Time and Sandbox. The company also specializes in digital asset licensing and is actively investing in the NFT market, including OpenSea, Dapper Labs, Bitski, Star Atlas, and Axie Infinity.

Since the beginning of 2022, Animoca Brands has raised $434 million, and in 2021 raised $203.9 million in three funding rounds. The company plans to use the raised funds for strategic acquisitions, product development and licensing of intellectual property. The main investors of the company are Accel, 500 Startups, Intel, Huobi Capital, RIT Capital, Coinbase, Samsung, and Sequoia.