True Global Ventures closes a new $146 million fund, with a $62 million commitment from General Partners to invest in Web3 future unicorns.
Following the success of its previous True Global Ventures 4 Plus fund, with 2 rhinos and 2 initial public offerings, the fund has invested in 3 web pioneers such as Animoca Brands, The Sandbox, Forge Global, Chromaway, Coinhouse, GCEX, Chronicled, and others. TGV continues its success with a subsequent fund that reinvested in the top third of the previous fund’s portfolio.
True Global Ventures 4 Plus (TGV4 Plus) Fund announced on June 16 the first closing of its new $146 million fund.
The successor fund for TGV4 Plus comprises a group of 15 General Partners (GPs), who manage the fund and its investment committee, and put more than $62 million of their money into the fund. This is a total aggregate commitment of over 40% of the total fund size and over $4 million per GP on average. The first call for funds was collected in full.
The TGV 4 Plus seed fund has invested in serial entrepreneurs who are driving ambitious blockchain startups on a global scale. It covers 20 cities in North America, Europe and Asia. The fund is dedicated to Web3 companies, mainly in growth stages A, B and C in 3 sectors: entertainment and games, financial services, infrastructure and data analytics/artificial intelligence (AI). Founded by an international group of ‘super angels’, TGV 4 Plus GPs are entrepreneurs, entrepreneurs, family offices and institutional investors. The TGV4plus fund is invested in some of the major Web3 companies such as Animoca Brands, The Sandbox, Forge Global, Chromaway, Coinhouse, GCEX, Chronicled and others.
The new successor fund will focus on investing the majority of its capital in select fund companies of its predecessor, TGV 4 Plus. It can also invest opportunistically in other high-growth Web3 deals.
“The previous fund was a great success, but we are still in the cradle of Web3. We believe the early winners will grow even stronger and with the subsequent fund, we are giving our partners the opportunity to invest more in this business.”
Frederick Adolfson, General Partner
“After a few years of growth, the big companies in our portfolio are looking forward to further growth. We want to help them and accompany them with the subsequent fund, because we are in the building blocks, while many growth funds focus on restoring investor confidence during this period.”
Konrad Warrokh, General Partner
“We raised funds in record time in 4 months and believe this is the best time to invest during a market correction. I would say it is much easier to see more clearly who the winners are now. This has created a high level of confidence among our investors who have seen commitment Great GP and the first call was done very quickly.”
Frank Desvins, general partner
Recognizing the well-established decentralized Web3 use cases, TGV continues to invest in serial entrepreneurs driving ambitious Blockchain startups on a global scale.
True Global Ventures (TGV) is a global venture capital firm created by a group of serial entrepreneurs with a proven track record of investing in businesses run by serial entrepreneurs. Wallet companies are leveraging Web3 technologies, integrating blockchain as a competitive advantage to drive change with proven products. TGV is a distributor fund located in 20 cities, including Singapore, Hong Kong, Taipei, Dubai, Abu Dhabi, Stockholm, Paris, Luxembourg, Madrid, Warsaw, New York, San Francisco and Vancouver. The successor fund TGV 4 Plus focuses on investing the majority of its capital in selected companies of the previous TGV 4 Plus Fund. It can also invest opportunistically in other hyper-growth Web3 deals.
VI