True Global Ventures (TGV) has announced the closing of its True Global Ventures 4 Plus (TGV 4 Plus) fund, the world’s first truly global blockchain fund, which has surpassed its $100 million target. The fund is dedicated to blockchain companies , primarily series B and C in four verticals: entertainment, infrastructure, financial services, data analytics, and artificial intelligence (AI).
The TGV 4 Plus fund has invested in five companies to date: Animoca Brands , a global unicorn market leader in “Play – to – Earn ” video games and non-fungible tokens (NFTs); Forge Global, a global leader in secondary private markets; The Sandbox, a global leader in the video game metaverse; Canada Computational Unlimited , Bitcoin mining company with 100% renewable energy; and finally, QuantumRock , a market leader in artificial intelligence (AI) asset management. Within the framework of TGV 4 Plus, these portfolio companies have experienced significant value creation and commercial traction in recent months.
“We are impressed by TGV’s unique quality in selecting teams and start-ups. It offers us a unique opportunity to invest in businesses that we would not have been able to do on our own and the potential for a superior return on investment” , said Jakob Thureson , chief investment officer at Thureda Gruppen AB.
Financial institutions are a key growth driver as they look to deploy blockchain applications in NFTs, enterprise blockchain solutions , digital identities, digital currencies, and decentralized finance ( DeFi ). The rise in business adoption of distributed ledger technologies (DLT), such as blockchain , will accelerate the mainstream adoption of digital currencies.
With the increasing recognition of blockchain equity as an asset class, TGV plans further rounds of equity financing, following the launch of the TGV 4 Plus Fund.
The 40 members of TGV 4 Plus have contributed 27% of the fund, together with entrepreneurs, business angels , family offices and institutional investors, many of them with co-investment rights in future capital rounds. Partners assist portfolio companies with business relationships, investment promotion, introduction to venture capital firms, loan and private equity firms for refinancing, and company acquisitions and exits.
“TGV has shown that it can add value to its portfolio companies by introducing clients internationally. They also help them with the next round of financing and ultimately find their way out”
added Pascal Chevalier , President of Reworld Media.
