Animoca Brands Aims to Raise $1 Billion for Web3 Fund

According to Bloomberg, Animoca Brands is looking to raise about $1 billion this quarter for its new Web3 and metaverse investment fund. Yat Siu, CEO of Animoca Brands, said Animoca Capital is in talks with potential investors and would use the money to support blockchain and metaverse startups.

Yat Siu said, "It is fair to say it's a challenging market. But we have quite a bit of interest." He added that a shaky market could mean eventually raising slightly lower than the targeted amount.