Recent Animoca Investments - Amazing!, page-272

Mom I have one question and that's regarding 'future raising': for what ? We all get the WEB3 concept and it's fantastic but it would be nice to see one of the 300 plus investments in the portfolio that is going really well in the WEB3 space. Until some results become available we can only assume cash burn. This is a very sensitive issue in the VC space at the moment, Animoca like many was able to to take full advantage of the crazy covid liquidity (as in the $4.50 raise) and like many the valuations have come crashing down to earth. NOEM's $50 million investment seems more of a life line, of which 25 million has a valuation of well under $1 a share and the other 25 million is a convertible note (mandatory or optional ???) at $4.50. IMO this makes me more suspicious than celebratory. We need just a sniff at success of just a hand full of the 300+ and I agree it's off to the races.