Animoca Brands CEO Yat Siu said the company is working to establish a fund of up to $2 billion to invest in metaverse businesses, according to NikkeiAsia.

Animoca Capital

Siu said the fund will be called Animoca Capital and hasn’t raised any money yet, but is aiming for an amount between $1 billion and $2 billion.

Animoca Capital’s main concern will be to invest strategically to develop a Web3 ecosystem and create an active market instead of seeking economic benefits. Siu said the fund would offer a good entry point for all Web3 companies. He stated:

“For many traditional investors, investing in growth [stage] at a late stage it is safer. It is very different from investing in a seed startup, which has much higher risk.”

Web3 startups seek…