Venture Accelerator Firm Brinc Closes US$30 Million Series B Led by Animoca Brandsby Fintech News Hong Kong December 20, 2021
Hong Kong-based venture accelerator firm Brinc announced the closing of its US$30 million Series B fundraise led by Hong Kong unicorn Animoca Brands, a prolific investor in NFT-centric and Web 3.0 companies.
Additionally, Brinc also received a further US$100 million for startup investments.
The new capital will fuel Brinc’s global platform expansion across new locations and verticals – allowing more investors and corporate partners to leverage funds, accelerators and bespoke-deal sourcing to access high-quality investment opportunities and emerging technologies in food, health, energy, climate and deep tech.
In addition, the capital will enable Brinc’s expansion into Web 3.0 including the launch of new blockchain-focused accelerator programmes across culture, music, art, collectibles, gaming, decentralised finance and data.
Startups and corporates will also be supported in developing blockchain ventures to integrate sustainability, inclusion and equitability into their business models.
This investment represents a strengthening of the growing relationship between Brinc and Animoca Brands, who jointly unveiled the blockchain and NFT accelerator Launchpad Luna earlier this year.
Its first cohort is in the process of closing investments into 30 Web 3.0 companies, supporting founders with tokenisation, product development and fundraising.
Next year, Brinc and Animoca Brands plan to accelerate over 100 companies through LaunchPad Luna.
Headquartered in Hong Kong, Brinc has grown significantly since its 2014 launch — it has invested in and supported the growth of more than 200 startups to date, and currently operates 18 multi-disciplinary acceleration programs across seven offices around the world.
Manav Gupta, Founder and CEO of Brinc said,
“Web 3.0 technologies have the potential to democratise access to financial services and information, develop a more inclusive digital economy through aligned value capture mechanisms, and transform global business processes, just as the Internet did.
Working with Animoca Brands to support leading companies in this space is an incredible opportunity, and underscores an increasing interest in utilising accelerators to access high-quality startup opportunities at scale.”
Yat Siu, the Executive Chairman and Co-founder of Animoca Brands said,
“Brinc is the leading name in startup acceleration for emerging markets and technologies, and its sights are set firmly on the future and on sustainability.
We share a common vision of an open future with blockchain adoption in traditional and growth sectors, and we look forward to the innovations that will emerge from its acceleration programmes.”
Featured image: (From left) Manav Gupta, Brinc’s Founder and CEO with Yat Siu, the Executive Chairman and Co-founder of Animoca Brands.