Blockchain VC firm True Global Ventures raises US$146m for follow-on fund
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Claudia Chong
WEB3 investor True Global Ventures (TGV) said it has raised US$146 million in the first close of its TGV4 Plus Follow On Fund, which will make follow-on investments in the portfolio companies of the TGV 4 Plus Fund closed last year.
The TGV4 Plus Follow On Fund, domiciled in Singapore, has 15 general partners (GPs) including Singapore-based investor and entrepreneur Kelly Choo. The GPs committed over US$62 million in the first close.
TGV was built by a group of serial entrepreneurs with a track record of investing their own money into early and late-stage ventures run by other serial entrepreneurs. Zopim co-founder Lim Qing Ru and PropertyGuru co-founder Jani Rautiainen are part of firm, as GPs of the TGV 4 Plus Fund. (*see amendment note)
The firm’s US$100 million TGV 4 Plus Fund has invested in Animoca Brands, The Sandbox, Forge, Chromaway, Coinhouse, GCEX, Chronicled and others. Its investments span 20 cities in North America, Europe and Asia.
Cheques are cut for Series A, B and C funding rounds across 3 verticals: entertainment and gaming; financial services; and infrastructure and data analytics or artificial intelligence.
Dusan Stojanovic, a fund GP, said: “We raised the money in record time in 4 months and we believe this is the best time to invest during market corrections. I would say that it is much easier to see more clearly who the winners are now.”
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*Amendment note: The article has been amended to clarify that Lim Qing Ru and Jani Rautiainen are GPs of TGV4 Plus, and not the follow-on fund.
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