True Global Ventures 4 Plus Fund and Follow On Fund (TGV 4 Plus FoF) announced a $38m investment including a $16m bought from the secondary market. TGV also previously communicated an investment of $17m, this means that we have invested an extra $21m.
Animoca Brands recently raised a $110m convertible led by Temasek, Bayou Capital and GGV, where TGV also participated. TGV Partners across 20 cities support Animoca Brands’ mission to deliver digital property rights to gamers and Internet users, leading the play-and-earn model and contributing to the Web3 Builders ecosystem of the open metaverse.
Globally, Animoca Brands has grown sales rapidly through its major business units including Yuga Labs / Ape Coin, The Sandbox, REVV ecosystem, Blowfish, Darewise (Life Beyond), and recently Tiny Tap. Animoca Brands has 380 investments in total. TGV has been an early backer of Animoca Brands since early 2019. The company became a unicorn in May 2021.
What were the executives’ thoughts on the funding?
Commenting on the funding, TGV General Partner Kelly Choo comments, “We are happy to invest at scale in Web3, in a leading company like Animoca.” TGV General Partner Dušan Stojanović adds, “This is the largest investment TGV has ever done in one company as we see a large growth potential coming with massive adoption. With the Follow on fund newly set up, we invest in the best among our 15 portfolio companies in the TGV 4 Plus base Fund.”
Yat Siu, the co-founder and executive chairman of Animoca Brands, was in Paris last week for the TGV 62nd conference and said: “TGV has been a friend and wonderful supporter of the firm and its ecosystem like The Sandbox since 2019 and we are honored that they continue to support Animoca Brands and its vision to deliver true digital property rights to the world!”
What is the investment portfolio of TGV?
Besides Animoca Brands, the TGV 4 Plus base fund has also invested in other leading companies such as The Sandbox (a subsidiary of Animoca Brands), Forge Global, Chromaway, Coinhouse, GCEX, Chronicled, Enjinstarter, Iomob, Dedoco and others.
TGV 4 Plus Follow on Fund focuses on investing a majority of its capital into selected TGV 4 Plus base fund companies. The TGV 4 Plus Follow On Fund will consider making additional investments in other late stage Web3 deals as the opportunities arise.
To get in touch with TGV, you can contact us via our Contact page.