True Global Ventures is closing a $ 146 million successor fund, with a $ 62 million commitment from General Partners to invest in future Web3 unicorns.
Following the success of its predecessor fund True Global Ventures 4 Plus, with 2 unicorns and 2 IPOs, the fund has invested in web3 leaders such as Animoca Brands, The Sandbox, Forge Global, Chromaway, Coinhouse, GCEX, Chronicled and others. TGV continues its success with a successor fund that reinvests in the top third of the previous fund’s portfolio.
True Global Ventures 4 Plus (TGV4 Plus) announced on June 16 the first closure of its US $ 146 million successor fund.
The TGV4 Plus replacement fund has a group of 15 General Partners (GP), which run its fund and investment committee, pumping more than US $ 62 million of their money into the fund. This is a total GP commitment of more than 40% of the total funding size and more than US $ 4 million per GP on average. The first call for funds was fully collected.
The TGV 4 Plus core fund invests in serial entrepreneurs leading ambitious Blockchain start-ups on a global scale. It covers 20 cities in North America, Europe and Asia. The funding is focused on Web3 companies, mainly in the A, B and C series growth stages in 3 sectors: entertainment and games, financial services, infrastructure and data analysis/artificial intelligence (AI). Founded by an international group of “super angels”, TGV 4 Plus GPs are entrepreneurs, business angels, family offices and institutional investors. TGV4plus funds have been invested in some of Web3’s major companies such as Animoca Brands, The Sandbox, Forge Global, Chromaway, Coinhouse, GCEX, Chronicled and others.
The new successor fund will focus on investing most of its capital in selected previous TGV 4 Plus fund companies. It can also invest with the opportunity in other high -growth Web3 deals.
“The previous fund has been an amazing success, but we are just in the early stages of Web3. We believe our previous winners will be even stronger and with the replacement fund, we are giving our partners the opportunity to invest more. in these businesses. “
Fredrik Adolfsson, General Partner
“After several years of growth, the top companies in our portfolio are looking for more growth. We want to help them and accompany them with replacement funding, because we are in the starting blocks, while many growth funds are focused. to regain investor confidence in this period ”
Konrad Wawruch, General Partner
“We have raised money in record time in 4 months and we believe this is the best time to invest during the market corrections. I can say it’s easier to see more clearly who the winners are now. It created a high level of confidence among our investors who saw great GP Commit and the first call was executed very quickly. ”
Frank Desvignes, General Partner
In recognition of the established decentralized Web3 use cases, TGV continues to invest in serial entrepreneurs leading ambitious Blockchain start-ups on a global scale.
True Global Ventures (TGV) is a global venture capital firm created by a group of serial entrepreneurs with a strong track record of investing in businesses run by serial entrepreneurs. Portfolio companies use Web3 technologies, incorporating blockchain as competitive advantages to drive innovation in proven products. TGV is a distributed fund present in 20 cities, including Singapore, Hong Kong, Taipei, Dubai, Abu Dhabi, Stockholm, Paris, Luxembourg, Madrid, Warsaw, New York, San Francisco and Vancouver. The successor fund TGV 4 Plus focused on investing most of its capital in selected companies from the previous TGV 4 Plus fund. It can also invest in other hyper-growth-stage Web3 deals.