True Global Ventures with a presence in UAE invests $17.2 million in unicorn company Animoca Brands
True Global Ventures 4 plus, (TGV-4 Plus) Fund with a presence in the UAE and TGV 4 Plus Follow On Fund (TGV 4 Plus FoF) have invested a $17.2m convertible note investment into Animoca Brands out of a total raise of US$110m. The current investment further supports Animoca Brands’ mission to deliver digital property rights to the world's gamers and Internet users, thereby creating a new asset class, play-to-earn economies, and a more equitable digital framework contributing to the building of the open metaverse. Other investors included Boyu Capital, Singapore’s Sovereign Wealth Fund Temasek and GGV Capital. The investment comes after Animoca Brands’ second closing at a valuation of US$5.9 billion (based on Australian dollar exchange rates at the time), announced on July 12, 2022. The company is a leader in digital entertainment, blockchain, gamification, and digital property rights in open metaverse. TGV is a distributed fund with a presence in over 20 c