Former Tencent insurance boss joins web3 powerhouse Animoca Brands – TechCrunch

Animoca Manufacturers, the Hong Kong-based gaming firm and the investor behind web3 massive names like The Sandbox, Sky Mavis, Dapper Labs, and OpenSea, simply received a expertise enhance.

Alan Lau, former CEO and chairman at Tencent’s in-house insurance coverage company WeSure, has joined Animoca as its chief enterprise officer, Lau’s LinkedIn web page shows.

Animoca, which received its begin as a cellular video games developer in 2014, has in recent times grow to be one of many world’s most lively web3 traders with a rising portfolio of over 300 firms — each centralized and decentralized. Because the chief enterprise officer, Lau will oversee Animoca’s portfolio firms, lead mergers and acquisitions, and work on enterprise improvement, his profile says.

Web insurance coverage and the web3 world would possibly appear to have little overlap, however Lau’s involvement in artwork — sitting on the board of Asia-based initiatives for Tate and Guggenheim Museum — may serve Animoca nicely because the artwork business has been eager to embrace the metaverse and NFTs. Lau’s expertise of operating a shopper web platform with over 100 million registered customers at WeSure may additionally lend itself to managing a big portfolio of startups.

We’ve reached out to Animoca Manufacturers for remark.

Lau isn’t the one Tencent veteran that has made the change to web3. Benny Ho, who was beforehand inking funding offers for Tencent’s gaming unit, is now a head of enterprise improvement at Animoca.

With over 700 workers worldwide, Animoca Manufacturers jumped previous $5 billion in valuation after its $360 million funding spherical that was introduced in January. As of April, its portfolio was valued at over $1.5 billion throughout 340 investments, based on its financial report, and its steadiness sheet had $98 million in money and $211 million price of digital belongings holdings on the time.

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