The Hong Kong-based venture capital and game software giant, Animoca Brands, announced that they would be forming a fund worth $2 billion, which they called Animoca Capital, on November 30. According to the announcement, the fund will be used to develop the Web3 industry’s ecosystem further and create a market that does not focus on returns.

Though the fund has not been raised yet, Animoca Brands’ co-founder and executive chairman, Yat Siu, confirmed that they would oversee the account’s creation. 

“The long-term goal for us, and frankly for myself, is creating a way where we all have digital property rights,” Siu stated. “I’m hoping that this will also drive a scenario where digital property will be recognized like physical property in the legal system,” he added.

According to Siu, the fund will give interested investors better access to Web3 companies. This was because a number of their investors wanted to know more about the companies in their portfolio and wanted to make direct investments in mid- to late-stage companies.

<blockquote>For a lot of traditional investors, investing in growth to a late stage is safer. It’s very different from investing in a seed startup, which has much higher risk.</blockquote>

Animoca Brands also said that they are still getting investors even though the Web3 business is in a slump. They raised $358 million in January, and another $110 million in 

“Obviously, it’s more challenging than before. On the other hand, I think it’s not as competitive as before. In a bear market, what often happens is concentration goes to the market leaders,” Siu shared.

In another aspect, Siu disclosed their plans to participate in a project led by the blockchain network, Binance, which was dubbed as Web3 Industry Recovery Initiative. Animoca Brands will be contributing $10 million, with a potential increase when their company’s situation plays out well.

Yat Siu, Animoca Brands’ co-founder and executive chairman, plans to create Animoca Capital, a cash reserve for the Web3 ecosystem.

Animoca Brands Eyes $2 Billion Investment For Metaverse Businesses

Yat Siu, Animoca Brands’ co-founder and executive chairman, plans to create Animoca Capital, a cash reserve for the Web3 ecosystem.

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