Data Vantage | Alexis Ohanian, former Disney chairman pick up Sky Mavis secondaries
Edition #124, 4 Nov 2021
Vietnamese gaming company Sky Mavis, which is valued at over $3 billion after a recent $152 million funding round, recorded a slew of secondary transactions recently.
Among the funds that picked up shares in the firm through secondaries is 776 Fund 1928 Amsterdam, LP. The fund is understood to be managed by Reddit co-founder Alexis Ohanian’s venture capital firm Seven Seven Six. Ohanian named his firm after the first known Olympic Games held in 776 BC. Each fund is typically named after the city and the year it hosted the Olympics.
Other investors to have joined Sky Mavis’s cap table through similar transactions recently are Rainfall Ventures, Paradigm, former Walt Disney chairman Michael Ovitz, Not Boring Capital, Samsung NEXT, Gary Vaynerchuk’s VaynerFund, Standard Crypto and Alameda Ventures.
Sellers include Sky Mavis co-founder and COO Aleksander Larsen, who transferred nearly 49,000 shares in secondary transactions this week. Assuming the same price as the firm’s latest round of $300.2 per share, the sale could have earned him a cool $14.6 million.
Co-founder Jeffrey Zirlin sold a little over 42,000 shares this week, potentially earning as much as $12.6 million.
BO Holdings, owned by Sky Mavis CEO Nguyen Thanh Trung, sold its entire holding of nearly 50,000 shares to CNK Fund, Fabric Ventures and Back 2 LP this week. Using the same pricing as the firm’s latest round, the sale could have netted him $15 million.
Crimson Gecko, an entity whose sole shareholder is Sky Mavis art director and game designer Tu Doan, sold its entire stake — nearly 42,500 shares potentially worth $12.7 million — to Andreessen Horowitz’s CNK Fund.
Doan and Nguyen were the original founders of the firm before Larsen, Zirlin and Andy Ho joined as co-founders in early 2018.
Existing investor Pangea Blockchain Fund, too, pared its holding recently, selling shares to CNK Fund.
Southeast Asia’s unicorn parade
Philippine payment app Mynt and Thai crypto exchange Bitkub joined Southeast Asia’s unicorn club of private companies valued at $1 billion or more this week, bringing the year’s total to 23. With these new additions, 2021 has already surpassed the number of unicorns created in the region since 2013.
Southeast Asia might add two more unicorns before this year comes to a close.
Vietnam-based MoMo and Indonesia’s Sociolla are both raising new rounds of funding that could catapult them into the unicorn club of private companies valued at $1 billion or more.
Other updates from DATA VANTAGE
Indonesian home decoration platform Dekoruma saw a change in shareholders recently. AddVentures transferred its interest in the firm to Nexter Ventures this week. Both are units of Thai cement major SCG.
Carro co-founder and CEO Aaron Tan sold some of his shares in the unicorn to Ion Pacific at the end of October.
Healthcare platform Smarter Health received $371,491 from Blue7 last week, bringing its year-to-date funding to nearly $3 million. The firm recently inked a strategic partnership with Nasdaq-listed data analytics firm Health Catalyst.
Jala Tech received a capital infusion of $621,850 from various investors. 500 Durians pumped in $350,000, while Hatch Accelerator invested $210,000 via two vehicles.
Health tech firm SSIVIX Lab raised $67,249 from two individuals earlier this week, with the bulk of it coming from Anwar Rafique.
E-commerce solutions provider beautiful.me saw its revenue soar to $33 million in the financial year ended Dec 31, 2020. The company also recorded its first net profit of nearly $3 million.
Other brands to have reported their financials recently include Sprinklr, DataWeave, POKKT, Red Dot Payment, Tonbo Imaging and InterviewBit.
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