Animoca Brands has halved its funding target for its new web3 fund, Hong Kong-based chairman Yat Siu said in an interview on Twitter Spaces that it is now looking to raise about $1 billion for Animoca Capital this quarter. followreportof Bloomberg
Siu got Tell Nikkei Last November, Animoca set a goal of raising $2 billion for the fund.
“Q1 is the target, let’s see what happens,” Siu told Bloomberg of Animoca Capital’s plans, adding that current market conditions could mean that the fund is raising less than its target. “This is a challenging market. But we have quite a bit of interest.”
Animoca Brands is one of web3’s richest investors, having made more than 380 investments as of Dec. 6, according to a company spokesperson.
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