- Temasek Holdings Pte, a state-owned investor in Singapore, is investing $100 million in Animoca Brands Corp., backing one of the most successful crypto investment firms even after a $2 trillion market collapse, reported Bloomberg.
- Temasek will lead the financing through convertible bonds, stated the source.
- Temasek stated that it doesn’t directly invest in cryptocurrencies and prefers to back service providers in the space instead.
- Animoca has evolved from a small mobile game publisher to Asia’s biggest blockchain investor by assembling a portfolio of more than 340 finance, gaming, and social media companies in less than five years.
- According to Co-founder Yat Siu, Animoca is seeking to take advantage of the crypto downturn to buy up stakes in industry players and digital tokens.
- The firm wants to go public, perhaps in the next two to three years. That will depend on the market’s acceptance of its core business of selling crypto tokens and taking a cut from secondary transactions, Siu stated.
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