True Global Ventures 4 Plus (TGV4 Plus) Fund announces its first closure of its US$146m Follow On Fund. The TGV4 Plus Follow On Fund has a group of 15 General Partners (GP), who lead the fund and its Investment Committee, putting in more than US$62m of their money into the fund. This is a total GP commitment of over 40% of the total fund size and over US$4m per GP on average. The first capital call of the fund has been fully paid in.
What is TGV4 Plus’ global coverage?
The True Global Ventures 4 Plus base fund invested in serial entrepreneurs leading globally ambitious Blockchain start-ups. It covers 20 cities in North America, Europe and Asia.
The fund is dedicated to Web3 companies, primarily in late-stage Series A, B and C across 3 verticals: Entertainment & gaming, financial services, infrastructure & data analytics / Artificial Intelligence (AI). Founded by an international group of “super angels”, TGV 4 Plus limited partners are entrepreneurs, business angels, family offices, and institutional investors.
It has invested in some of the leading Web3 companies such as Animoca Brands, The Sandbox, Forge, Chromaway, Coinhouse, GCEX, Chronicled and others. The new Follow On Fund will focus on investing a majority of its capital into selected TGV 4 Plus base fund companies. It might also invest in other late stage Web3 deals opportunistically.
What are the executives’ thoughts on the new funding?
“The base fund has been a success, but we are still only in the starting blocks of Web3. We believe that the winners will grow even stronger and with the Follow On Fund, we give our partners a chance to invest more into the firms” says Fredrik Adolfsson, General Partner.
General Partner Dušan Stojanović adds, “We raised the money in record time in 4 months and we believe this is the best time to invest. I would say that it is much easier to see more clearly who the winners are now. This has created a high level of confidence amongst our investors who have seen a large GP Commit and the first call being executed very quickly.”
“After some years, our best portfolio firms are looking to expand even further. We want to assist them with the Follow On Fund, as we are ready on the starting blocks, when many growth funds focus on regaining investors’ trust,” says Konrad Wawruch, General Partner.
With the recognition of established decentralized Web3 use cases, True Global Ventures continues to invest in serial entrepreneurs leading globally ambitious Blockchain start-ups. Interested start-ups can reach out via LinkedIn or through the Fund’s Contact page.