True Global Ventures’s Web3-focused follow-on fund TGV4 Plus hits US$146M first close

True Global Ventures 4 Plus (TGV4 Plus), a Web3-focused fund run by Singapore-based distributed ledger technology (DLT) equity fund True Global Ventures, has announced the first close of its US$146 million follow-on fund.

The fund will continue to double down on its existing investees. It might also invest in other late-stage Web3 deals opportunistically.

Also Read: True Global Ventures injects US$10M into NFT metaverse game The Sandbox

Founded by an international group of angel investors, TGV 4 Plus invests in Web3 primarily in late-stage Series A, B and C across three verticals: entertainment & gaming, financial services, infrastructure & data analytics/Artificial Intelligence. 

It has invested in unicorns and other renowned firms, including Animoca Brands, The Sandbox, Forge, Chromaway, Coinhouse, GCEX, Chronicled, and Dedoco. 

The fund covers 20 cities in North America, Europe and Asia. 

“The base fund has been a fantastic success, but we are still only in the starting blocks of Web3. We believe that our early winners will grow even stronger. With the follow-on fund, we allow our partners to invest more into these companies,” says Fredrik Adolfsson, General Partner of TGV4 Plus. 

General Partner Dušan Stojanović added: “We raised the money in record time in four 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. This has created a high confidence level amongst our investors who have seen a large GP Commit and the first call being executed very quickly.”

Also Read: The art of blockchain: What is the NFT craze all about?

Last September, TGV 4 Plus closed its fourth fund at over US$100 million to invest in blockchain companies, primarily in the Series B and Series C stages.

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