Global Mofy Metaverse Launches $69 Million Fund

BEIJING, July 2, 2024 (GLOBE NEWSWIRE) — Global Mofy Metaverse Limited (the “Company” or “Global Mofy Metaverse”) (Nasdaq: GMM), a technology solutions provider focused on producing virtual content and developing digital assets for the broader digital entertainment industry, today announced that its subsidiary, Global Mofy (Beijing) Technology Co., Ltd. (“Beijing Mofy”), has signed a letter of intent (“LOI”) to launch a $69 million fund with strategic partners to support growth opportunities through acquisitions and investments in upstream and downstream Global Mofy Metaverse companies in the high-growth AI, digital economy and entertainment sectors.

The new Yangzhou Hengyun Mofy Digital Equity Investment Fund (the “Fund”) will include strategic partners Yi Zheng Yangzi Culture and Tourism Holding Group Co., Ltd. (“Yangzi”) and Beijing Hengyun International Private Equity Fund Management Co., Ltd. (“Beijing Hengyun”). Beijing Mofy and Yangzi will contribute to the initial funding, with a total committed capital of USD 69 million. As a limited partner, Global Mofy Metaverse will participate in investment voting decisions, focusing on high-quality projects that are aligned with our company’s business interests. We will also coordinate industry resources to promote the successful implementation of these investment projects. Yangzi will co-invest and be responsible for coordinating government resources. Beijing Hengyun, as the fund manager, will oversee the fund’s operations and investment decisions, ensuring standardized processes through professional fund management.

The fund leverages the combined strength of private capital, Global Mofy as a publicly listed company, and government support to drive business growth and attract investment. This three-dimensional empowerment framework provides solid growth and strategic benefits in the digital economy. The fund will begin actively evaluating investment opportunities in target sectors, with the intention to allocate initial funds in the second half of 2024.

Mr. Haogang Yang, CEO of Global Mofy Metaverse, said: “This marks a significant turning point for Global Mofy. As industries rapidly evolve, our goal is to support entrepreneurs while ensuring that Global Mofy Metaverse is strategically positioned to capitalize on this change and deliver increased returns to our shareholders. By working with established strategic partners, we can significantly expand our investment scope, expertise and capabilities to capture growth opportunities in the rapidly evolving AI, digital economy and digital entertainment sectors. Most importantly, as our invested businesses flourish, the value of the fund will increase proportionally, opening up new opportunities to support the expansion of more businesses. This partnership will not only benefit the market, but also contribute to our sustainable growth and represent a significant opportunity to create value for all shareholders.”

The most important information:

Strategic Collaboration and Industry Leadership:
Strategic partnerships with a state-owned enterprise and a private equity fund underscore Global Mofy’s leadership and influence. This partnership demonstrates our critical role in shaping the future of digital markets, reinforcing Global Mofy’s position at the forefront of industry innovation and growth.

Increasing investment impact and market competitiveness:
The creation of the fund significantly increases Global Mofy’s market competitiveness and investment impact. With a focus on acquisitions and investments in the digital economy and digital entertainment sectors, especially with the company’s upstream and downstream partners, the fund will drive growth and innovation. This initiative will strengthen Global Mofy’s position as a leader in these fast-growing markets.

Technological innovation and sustainable development:
Global Mofy is deeply committed to technology innovation and sustainability. Our new fund will support projects that are both future-proof and sustainable, highlighting our achievements and commitment in these areas. It reinforces our role in driving progress in the digital economy and entertainment sector, ensuring long-term growth and sustainability.

Central role in making investment decisions and planning future projects:
Global Mofy plays a central role in investment decisions and foresees the strategic future of investment projects. This underlines our leadership and meticulous planning in the digital economy, positioning Global Mofy as a key player in the evolution of the industry and strengthening our influence in shaping its future trajectory.

About Global Mofy Metaverse Limited
Global Mofy Metaverse Limited (Nasdaq: GMM) is a technology solutions provider focused on virtual content production and digital asset development for the digital entertainment industry. Leveraging its proprietary technology platform “Mofy Lab,” which consists of interactive 3D technology and artificial intelligence (“AI”), the company creates high-resolution virtual versions of a wide range of physical world objects in 3D, from characters, objects, scenes, and more. The digital assets can be used in various applications, including movies, TV series, AR/VR, animation, advertising, games, and more. Global Mofy Metaverse is one of the leading digital asset banks in China, consisting of over 30,000 high-precision 3D digital assets. For more information, please visit www.globalmofy.cn/ or ir.globalmofy.cn.

Prognostic Statement
This press release contains forward-looking statements. Forward-looking statements include statements regarding plans, objectives, strategies, future events or results and underlying assumptions and other statements that are other than statements of historical fact. When the Company uses words such as “may,” “will,” “intends,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, the Company is making forward-looking statements. These forward-looking statements include, without limitation, statements by the Company regarding the expected trading of its Common Shares on the Nasdaq Capital Market and the closing of the Offering. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks, including, but not limited to, uncertainties relating to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance on any forward-looking statements contained in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that occur after the date hereof.

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