Venture fund invests in serial entrepreneur late-stage equity blockchain companies
SINGAPORE - Media OutReach - 1 September 2021 - True Global Ventures (TGV) announced its recently closed True Global Ventures 4 Plus (TGV 4 Plus) Fund, the world's first truly global blockchain equity fund was oversubscribed—surpassing its US$100 million target. The fund is dedicated to blockchain companies, primarily in late-stage Series B and C across four verticals: Entertainment, infrastructure, financial services, data analytics and artificial intelligence (AI).
The TGV 4 Plus fund has invested in five companies to date: Animoca Brands, unicorn global market leader in "Play-to-Earn" blockchain gaming and non-fungible tokens (NFTs); Forge Global, global market leader in secondary private markets; The Sandbox, global market leader in gaming metaverse; Canada Computational Unlimited, Bitcoin mining company with 100% renewable energy and QuantumRock, AI asset management market leader. Under TGV 4 Plus, these portfolio companies have seen material value creation and commercial traction in the past months.
Jay Liang, Founding Chairman, Hong Kong Blockchain Association; and Managing Partner, OES Capital Group & GSR Matrix Fund, said, "I've seen how TGV invests not only money but extensive effort and introductions to help grow their portfolio companies. They are simply serial entrepreneurial partners with them."
Financial institutions are a key growth driver as they look to deploy blockchain applications in NFTs, enterprise blockchain solutions, digital identities, digital currencies, and decentralized finance (DeFi). Increased commercial adoption of distributed ledger technologies (DLTs) such as blockchain will accelerate the mainstream adoption of digital currencies.
With the growing recognition of blockchain equity as an asset class, TGV plans for more equity funding rounds, following the TGV 4 Plus Fund launch.
TGV 4 Plus' 40 partners contributed 27% of the fund, together with entrepreneurs, business angels, family offices and institutional investors, many with co-investment rights in future equity rounds. The partners help portfolio companies with commercial relationships, investment promotions, introductions to VCs, loans, and private equity firms for refinancing, and company acquisitions and exits.
"The TGV team has created incredible value for their portfolio companies by helping them with client and partner introductions, and also with next round financing and exits," added Luke Lim, Managing Director, Phillip Securities.
- Headline Asia Announces the Close of Fund 4 at Over $100 Million
- BRI Ventures’ fund invests $2m in drink brand Haus in series A round
- Blockchain Security Firm CYBAVO Raises $4 million in Pre-Series A Funding Round
- Kenanga Investors Relaunches Funds with Global Focus
- Reliance Industries’ retail unit bags $749m from ADIA
- Vietnam’s SSI Asset Management, Japan’s Daiwa complete the first close of planned $100m fund
- OneDegree Completes Series B1 Funding Round in Major Step to Become Asia’s InsurTech Leader
- Mr. Dzung Nguyen left CyberAgent Capital and set up a venture capital fund with Le Hoang Uyen Vy
- The Philippines’ New Wave ties up with Malaysian firm to launch $50m fund for SEA startups