Following the success of the True Global Ventures 4 Plus foundation fund, the fund has invested in Web3 leaders such as Animoca Brands, The Sandbox, Forge, Chromaway, Coinhouse, GCEX, Chronicled, including two unicorns and two IPOs company. TGV has continued its success with follow-on funds, substantially increasing investments in businesses selected by the base fund.
The True Global Ventures 4 Plus (TGV4 Plus) fund today announced the first close of its follow-on fund, which raised $146 million.
The TGV4 Plus follow-on fund has 15 general partners (GPs) who lead the fund and its investment committee and commit more than $62 million to the fund. This is the total contribution of general partners, accounting for more than 40% of the total size of the fund, and the average contribution of each general partner is more than $4 million. The first tranche of subscriptions to the fund have been fully paid up.
The TGV 4 Plus Foundation Fund invests in serial entrepreneurs leading ambitious blockchain start-ups around the world. It covers 20 cities in North America, Europe and Asia. The fund invests exclusively in late-stage A, B and C rounds of financing for Web3 companies, primarily in three verticals: entertainment and gaming, financial services, infrastructure and data analytics/artificial intelligence (AI). TGV 4 Plus was set up by an international group of "Super Angels" whose limited partners include entrepreneurs, business angels, family offices and institutional investors.
The fund has invested in some leading Web3 companies such as Animoca Brands, The Sandbox, Forge, Chromaway, Coinhouse, GCEX, Chronicled, etc.
This newly formed follow-on fund will invest the majority of its capital in companies selected by the TGV 4 Plus base fund, and may also invest in other late-stage Web3 deals as appropriate.
Fredrik Adolfsson, General Partner, said: "The foundation fund has been hugely successful, but we are still in the infancy of Web3. We believe that our early successes will emerge even stronger, and through follow-on funds, we provide our partners with It presents an opportunity to invest more in these companies."
Konrad Wawruch, General Partner, said: "After several years of growth, some of the best of our portfolio companies are looking to expand further. We want to assist them with this follow-on fund as we are well-positioned to get started . During this period, many growth funds have focused on regaining the trust of investors."
General Partner Bowie Lau added: "We raised capital in a record four months and we think this is the perfect time to invest during a market correction. I would say it's easier to see who the winners are now ...which built a high level of confidence among our investors as they saw a significant amount of capital committed by the general partners and the first tranche of capital contributions was paid out very quickly."
With recognition of already established use cases for decentralized Web3, TGV continues to invest in serial entrepreneurs leading ambitious blockchain startups around the world.
You can connect with these startups on LinkedIn or through the fund's contact page:
About True Global Ventures
True Global Ventures (TGV) is a global venture capital firm founded by a group of serial entrepreneurs with a proven track record co-investing with limited partners in serial entrepreneur-run businesses. Portfolio companies leverage web3 technologies, incorporating blockchain as a competitive advantage, to drive change with proven products. TGV is a distributed fund with offices in 20 cities including Singapore, Hong Kong, Taipei, Dubai, Abu Dhabi, Moscow, Stockholm, Paris, Luxembourg, Madrid, Warsaw, New York, San Francisco and Vancouver. The TGV 4 Plus follow-on fund will focus on investing the majority of its capital in selected TGV 4 Plus base fund companies, and may also invest in other late-stage Web3 transactions as appropriate.