Animoca Brands Corp. plans to raise about $1 billion this quarter for its new Web3 and metaverse investment fund, sharply reducing its ambitions in the midst of the current crypto industry meltdown. Animoca Capital is in talks with potential investors and plans to use the funds to support blockchain and metaverse startups, said co-founder Yat Siu, who is also the chairman of Animoca Brands, in a Twitter Spaces chat with Bloomberg on Thursday in Hong Kong. In a November Nikkei interview, the Animoca CEO stated that the company intends to raise up to $2 billion for the new fund, which will be established in collaboration with former Morgan Stanley executive Homer Sun.
