True Global Ventures (TGV), a Singapore-based venture capital firm, announced raising over $100 million for its fourth blockchain equity-focused fund, TGV 4 Plus.
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 fund has already invested in five companies so far. These include blockchain gaming and NFT unicorn Animoca Brands; Forge Global, a player in secondary private markets; The Sandbox, a market leader in gaming metaverse; Canada Computational Unlimited, a Bitcoin mining company; and Quantum Rock, an AI asset management firm.
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 firm said.
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.
“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,” said Jay Liang, founding chairman of Hong Kong Blockchain Association and managing partner at OES Capital Group and GSR Matrix Fund.
True Global Ventures is present in 20 cities: Singapore, Hong Kong, Taipei, Dubai, Abu Dhabi, Moscow, Stockholm, Paris, Warsaw, New York, San Francisco, and Vancouver, among others.
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 was started in 2010 in Sweden by entrepreneur Dusan Stojanovic. He moved the firm to Singapore in 2015 with the aim of launching a third fund focused on fintech with an “Asian flavour,” which was launched in 2016.