True Global Ventures 4 Plus, World’s First Truly Global Blockchain Equity Fund, Oversubscribed Surpassing $100M Target
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.
Kushal Shah, Co-founder, Dubai Angel Investors, Head of Digital, Roland Berger, and TGV 4 Plus Limited Partner (LP) says: "TGV invests not only money but also effort and introductions to grow their portfolio companies. Their partners are serial value creators with their partnership approach."
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.
"Being a TGV 4 plus partner allows me to keep up-to-date with technology in different industries that may be relevant to banks in future," said Olivier Crespin, TGV UAE LP.
Pearce Clune, TGV LP & tech investor, said: "I'm impressed by the unique deal sourcing and selection process that TGV employs. By combining leading business ideas with a highly qualified management team, I believe this offers opportunities for accelerated returns."
Valerie Hawley, TGV Middle East General Partner and Director, La Sorbonne Center for Artificial Intelligence (SCAI), believes that now is an exciting time for blockchain in the Middle East with the growing gaming sector and development of Smart Government. With the UAE government's aim to become a global hub for technology and start-ups, TGV hopes to work with the growing number of regional start-ups.
True Global Ventures (TGV) is a global Venture Capital firm built by a group of serial entrepreneurs with a solid track record of investing their own money together with Limited Partners into early and late-stage ventures run by serial entrepreneurs. Portfolio companies leverage technology, data, AI and blockchain as a competitive advantage to drive change with proven products. TGV is present in 20 cities: Singapore, Hong Kong, Taipei, Dubai, Abu Dhabi, Moscow, Stockholm, Paris, Warsaw, New York, San Francisco, and Vancouver, among others. Visit us atwww.tgv4plus.com, and follow us onLinkedIn andTwitter.