Web3: True Global Ventures Returns to Bank, Closing New $146M Fund

True Global Ventures closes a $146 million succession fund, with General Partners committed to investing $62 million in future Web3 unicorns.

Following the success of its predecessor True Global Ventures 4 Plus fund with 2 unicorns and 2 IPOs, the fund has invested in web 3 leaders such as Animoca Brands, The Sandbox, Forge Global, Chromaway, Coinhouse, GCEX, Chronicled and more. TGV continues its success with a successor fund that reinvests in the top third of the previous fund’s portfolio.

The True Global Ventures 4 Plus (TGV4 Plus) Fund announced on June 16 the first closing of its successor fund for $146 million.

The TGV4 Plus successor fund has a group of 15 general partners (GPs) who manage the fund and its investment committee, contributing more than $62 million of their money to the fund. This is a total therapist commitment, representing over 40% of the total fund size and averaging over $4 million per therapist. The first application for funding has been fully collected.

The TGV 4 Plus core fund has invested in serial entrepreneurs leading ambitious blockchain startups on a global scale. It covers 20 cities in North America, Europe and Asia. The fund targets Web3 companies primarily in growth stages A, B and C in 3 sectors: entertainment and gaming, financial services, infrastructure and data analytics/artificial intelligence (AI). Founded by an international group of “superangels”, TGV 4 Plus’ CEOs are entrepreneurs, business angels, family offices and institutional investors. The TGV4plus fund is investing in some of the big Web3 companies such as Animoca Brands, The Sandbox, Forge Global, Chromaway, Coinhouse, GCEX, Chronicled and more.
The new successor fund will focus on investing the majority of its capital in selected TGV 4 Plus fund predecessor companies. He could also opportunistically invest in other Web3 deals in the fast-growth stage.

“The previous fund was a fantastic success, but we are still in the infancy of Web3. We believe that our early winners will become even stronger, and with the successor fund, we are enabling our partners to further invest in these ventures.”

Fredrik Adolfsson, general partner

“After several years of growth, the leading companies in our portfolio are committed to further growth. We want to help them and accompany them with a successor fund because we are in the starting position while many growth funds are focused on restoring investor confidence during this period.”

Konrad Vavruch, general partner

“We raised the money in a record 4 months and we believe this is the best time to invest during market corrections. I would say that it is now much easier to see who the winners are. This created a high level of trust among our investors who saw a great GP Commit and completed the first challenge very quickly.”

frank devignes, General partner

Recognizing the established decentralized Web3 use cases, TGV continues to invest in serial entrepreneurs leading ambitious blockchain startups on a global scale.

True Global Ventures (TGV) is a global venture capital firm created by a group of serial entrepreneurs with extensive experience investing in serial entrepreneur-led businesses. Portfolio companies are leveraging Web3 technologies, integrating blockchain as a competitive advantage, to drive change with proven products. TGV is a distributed fund with a presence in 20 cities including Singapore, Hong Kong, Taipei, Dubai, Abu Dhabi, Stockholm, Paris, Luxembourg, Madrid, Warsaw, New York, San Francisco and Vancouver. The TGV 4 Plus successor fund invests most of its capital in selected companies from the TGV 4 Plus predecessor fund. It could also opportunistically invest in other Web3 deals in the hypergrowth stage.
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