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Animoca Brands Co-Founder Yat Siu Joins DigitalX Strategic Advisory Board

DigitalX secures AUD 20.7 million from investors, including Animoca Brands, to support its Bitcoin fund management strategy.

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Summary

Animoca Brands announced that co-founder Yat Siu has joined the strategic advisory board of Australian-listed crypto asset manager DigitalX. DigitalX will raise approximately AUD 20.7 million through a strategic placement involving investors such as Animoca Brands, UTXO Management, and ParaFi Capital. The funds will be used to advance DigitalX’s Bitcoin fund management strategy, with Animoca Brands acting as the sole advisor and lead on the deal.

Terms & Concepts
  • Strategic Placement: A capital-raising method where shares are offered to selected investors, often to secure funds for specific strategic initiatives.
  • Bitcoin Fund Management Strategy: An investment approach aimed at managing assets in funds that hold or track the value of Bitcoin.
  • Strategic Advisory Board: A group of experienced individuals providing guidance and insight to a company's management, often influencing strategic decisions.