Former Tencent insurance boss joins web3 powerhouse Animoca Brands – TechCrunch

Animoca Brands, the Hong Kong-based games company and the investor behind web3 big names like The Sandbox, Sky Mavis, Dapper Labs and OpenSea, just got a talent boost.

Alan Lau, former CEO and President at Tencent’s WeSure Internal Insurance Agencyjoined Animoca as its sales director, Lau’s LinkedIn page Shows.

Animoca, which started as a mobile game developer in 2014, has in recent years become one of the world’s most active web3 investors with a growing portfolio. 300+ companies – both centralized and decentralized. As chief business officer, Lau will oversee the companies in Animoca’s portfolio, lead mergers and acquisitions, and work on business development. know.

Coverage of the Internet and the web3 world may seem like little overlap, but Lau’s involvement in the arts – sitting on the Asian projects board for the Tate Museum and Guggenheim – can serve Animoca as well as the industry. art has wanted to embrace supermarkets and NFTs. Lau’s experience running a consumer internet platform with over 100 million registered users at WeSure can also help with managing a large portfolio of startups.

We have reached out to Animoca Brands for comment.

Lau isn’t the only Tencent veteran to switch to web3. Benny Howho previously signed on to invest in Tencent’s games unit, is now the head of Animoca’s business development.

With more than 700 employees worldwide, Animoca Brands has surpassed a $5 billion valuation following a $360 million funding round. announced in January. As of April, its portfolio is valued at more than $1.5 billion across 340 investments, according to Financial reportand its balance sheet had $98 million in cash and $211 million in digital asset holdings at the time.

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