Sky Mavis’ $152 Million Series B Funding Round

YKVN and Cooley advised Andreessen Horowitz on the financing.

Vietnamese startup Sky Mavis, the creator of blockchain-enabled, play-to-earn game Axie Infinity, has bagged $152 million in its Series B funding round led by Andreessen Horowitz from a16z on October 5.

Accel and Paradigm also participated in the round.

According to Vietnam Investment Review, this transaction is believed to position Sky Mavis as the third unicorn of Vietnam, after VNG and VNLIFE.

The new funding is set to help Sky Mavis expand its team, scale infrastructure, and build its distribution platform to support game developers to create blockchain-enabled games.

As a play-to-earn game, Axie Infinity uses non-fungible tokens (NFTs) to reward players. The company was founded by Vietnamese young entrepreneurs Nguyen Hoang Trung and Doan Minh Tu.

Andreessen Horowitz is a private American venture capital firm, founded in 2009 by Marc Andreessen and Ben Horowitz. The company is headquartered in Menlo Park, California. Andreessen Horowitz invests in both early-stage start-ups and established growth companies.

The YKVN team was led by partner Truong Nhat Quang (Picture) assisted by a team of associates in Ho Chi Minh and Singapore.

Involved fees earner: Quang Nhat Truong – YKVN;

Law Firms: YKVN;

Clients: Andreessen Horowitz LLC;

Author: Sonia Carcano