Singapore-regulated venture fund invests in serial entrepreneur late-stage equity blockchain companies
SINGAPORE - Media OutReach - 1 September 2021 - 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.
As a Singapore-regulated venture capital fund, TGV 4 Plus has several Singapore-based partners who are seasoned investors, entrepreneurs, and corporate leaders from companies past/present such as PropertyGuru, LinkedIn, ZopIM/Zendesk, and Brandtology/iSentia. The Singapore partners include Beatrice Lion, Celine Lecotonnec, Lim Qing Ru, Dusan Stojanovic, Jani Rautiainen, Justin Holm, Kelly Choo, Olivier Legrand, among others.
Tan Ting Yong, Investment Director, Octava Family Office and TGV Limited Partner, said, "TGV is like a network of serial entrepreneurial partners with their portfolio companies. We've seen how they put a lot of effort to get introductions and help these companies grow, on top of the money invested into them."
Grand View Research showed that the global blockchain technology market is expected to reach US$394.60 billion by 2028 and expand at a CAGR of 82.4% from 2021 to 2028. Much of this growth comes from financial institutions looking to deploy blockchain applications. These include NFTs, enterprise blockchain solutions, digital identities, central bank digital currencies, and decentralized finance (DeFi). As such, increased commercial adoption of DLTs such as blockchain will help to 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.
"The TGV team has created incredible value for their portfolio companies by helping them with client and partner introductions, and also with next round financing and exits," added Luke Lim, Managing Director, Phillip Securities.