Hong Kong Web3 trailblazer Animoca Brands is set to unveil US$2 billion fund to invest in the metaverse and NFT startups, with plans to officially launch next year.

Hong Kong-born blockchain powerhouse, Animoca Brands has announced plans to launch a US$2 billion metaverse fund which is set to back rising businesses and emerging startups in the Web3 sector.

As an established enterprise in digital entertainment, blockchain, and venture capital fields, the firm’s co-founder, Yat Siu, foresees great potential for new innovation and development in the metaverse, hence launching the initiative to further grow and scale of the ecosystem.

Animoca’s venture capital arm intends to make its first investment in 2023, and the allotted funds will target metaverse and NFT startups in the early growth stage or those closing in on going public. The funds allocated will serve primarily to accelerate the growth and development of the Web3 ecosystem, while building an active market beyond focusing on the returns.

Labelled as a fast-maturing industry, Siu deemed it necessary to start a distinct investment vehicle dedicated to Metaverse innovation to optimise capital efficiency, growth, and return. Siu further added that the dedicated reverses will mainly focus on digital property rights.

Animoca Brands made over 380 investments within the Web3 ecosystem, earning itself a reputation for backing some of the most promising startups in the blockchain space, including prominent NFT marketplaces such as OpenSea and Dapper Labs.

The funds intend to create more opportunities for potential investors to approach Web3 businesses, allowing them to seek and access a better portfolio of companies.

Siu added that Animoca investors “want direct exposure to mid- to late-stage companies, and this is the role of a fund.”