Animoca Brands Japan’s $45 Million Fundraising Effort Is Supported By Banking Giant MUFG
Mitsubishi UFJ Financial Group, Inc. (MUFG) and Animoca Brands have contributed $45 million to Animoca Brands Japan, a division of web3 investment company Animoca Brands.
According to a press release on Friday, the investment would be split equally between the two investing firms, bringing the subsidiary’s pre-money valuation to $500 million.
According to the press announcement, Animoca Brands is a web3 investing juggernaut based in Hong Kong with a portfolio of more than 340 investments, including The Sandbox, Axie Infinity, Open Sea, and Dapper Labs.
Animoca Brands raised $75 million in July at a $5.9 billion pre-money valuation
According to a press statement, the Japanese subsidiary was established in 2021 to encourage Japanese intellectual property (IP) and content owners to use web3.
A $10 million seed financing from MCP IPX One Fund and Animoca Brands was completed in February by Animoca Brands Japan. The subsidiary company then disclosed in March that it was investigating working with MUFG on non-fungible-token (NFT)-related commercial potential.
Leading financial company MUFG is based in Tokyo, Japan. According to the announcement, it currently employs 170,000 people and conducts business in more than 50 nations. The Tokyo, Nagoya, and New York stock exchanges are where MUFG’s shares is traded. The company looks after assets worth $3.1 trillion.
According to the press release, the new money will be used to acquire intellectual property rights, encourage the adoption of web3, and enhance internal capabilities.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews