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True Global Ventures 4 Plus, World’s First Truly Global Blockchain Equity Fund, Oversubscribed Surpassing $100M Target
True Global Ventures (TGV) announced its recently closed True Global Ventures 4 Plus (TGV 4 Plus) Fund, the world’s first truly global blockchain equity fund was oversubscribed—surpassing its US$100 million target. The fund is dedicated to blockchain companies, primarily in late-stage Series B and C across 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, unicorn global market leader in “Play-to-Earn” blockchain gaming and non-fungible tokens (NFTs); Forge Global, global market leader in secondary private markets; The Sandbox, global market leader in gaming metaverse; Canada Computational Unlimited, Bitcoin mining company with 100% renewable energy and QuantumRock, AI asset management market leader. Under TGV 4 Plus, these portfolio companies have seen material value creation and commercial traction in the past months.
Jakob Thureson, Investment Management, Thureda Gruppen AB, said, “We’re impressed by the unique deal sourcing quality of TGV in selecting bold teams and start-ups. It gives us a unique opportunity to invest in companies that we wouldn’t have been able to on our own and the potential for out-sized return on investment.”
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). Increased commercial adoption of distributed ledger technologies (DLTs) such as blockchain will accelerate the mainstream adoption of digital currencies.
With the growing recognition of blockchain equity as an asset class, TGV plans for more equity funding rounds, following the TGV 4 Plus Fund launch.
TGV 4 Plus’ 40 partners contributed 27% of the fund, together with entrepreneurs, business angels, family offices and institutional investors, many with co-investment rights in future equity rounds. The partners help portfolio companies with commercial relationships, investment promotions, introductions to VCs, loans, and private equity firms for refinancing, and company acquisitions and exits.
“TGV has shown that they can add value to their portfolio companies with client introductions internationally. They also help them with next round financing and ultimately find the exit,” added Pascal Chevalier, Chairman, Reworld Media.
The 57th True Global Ventures Conference will be held on September 16, 2021. Visit www.tgv4plus.com for more information.
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