Animoca Brands, a game software and venture capital business, is expected to announce the issuance of further convertible notes on Tuesday, according to a Bloomberg story.
The crypto investment business has secured a $100 million agreement with Singaporean Temasek, according to a report citing sources with knowledge of the situation.
Later, convertible bonds may or may not be converted into stock. When a corporation cannot obtain equity capital or does not want to dilute existing shareholders, it may resort to debt financing.
The investments would be in addition to the $359 million that Animoca obtained in a January funding round that was publicized. In July, it raised an additional $75 million, bringing its total worth to about $6 billion.
Temasek has a policy of not commenting on market rumours, according to a representative who talked with The Block. Prior to publishing, Animoca did not reply to a request for comment.
To date, Animoca Brands has funded over 150 NFT and metaverse-related firms, like OpenSea, and many other firms establishing itself as a dominant player in the cryptocurrency gaming and NFT industries.
The most recent investment of $100 million would increase Animoca Brands’ total fundraising to date to over $600 million. Its affiliate, The Sandbox just raised $93 million on its own.
Temasek has already supported the cryptocurrency trading platform Amber Group and is the creator of Gods Unchained, Immutable.