Animoca Brands, metaverseand web3cut in half the amount it hopes to raise for its mutual fund 1 billiondown to dollars.
Hong Kongbased technology and venture capital firm Animoca Brands felt the need to lower his target in his planned moves. Founder of the company yacht Siu, in an earlier interview 2 billion He stated that he wanted to set up a $$ fund. Siu is an intermediate and advanced player in the industry. metaverse and planned to invest in web3 projects. The founder, who created the funds for this planning, 2 billion determined in dollars. Finally Animoca Brandsthe amount of this fund, citing market conditions. 1 billionannounced that he had lowered it to the dollar.
Animoca Brands Cuts Funds in Half to $1 Billion
Hong Kongbased Animoca Brands , felt the need to reduce the amount of mutual funds that excited the crypto industry. Founder of the company yacht Siu, the company’s approximately 1 billionHe said he wanted to raise dollars.
Founder of the company Siutalked about the company’s new plans. Siu, “Our first quarter focus and let’s see what happens next,” said.apart Siustated that it is a challenging market and that market conditions affect the fund.
Missing the target, the company said that a dozen portfolio initiatives were affected due to the impact of market conditions.