True Global Ventures 4 Plus (TGV4 Plus), a Web3-focused fund run by Singapore-based distributed ledger technology (DLT) equity fund True Global Ventures, has announced the first close of its US$146 million follow-on fund.
The fund will continue to double down on its existing investees. It might also invest in other late-stage Web3 deals opportunistically.
Founded by an international group of angel investors, TGV 4 Plus invests in Web3 primarily in late-stage Series A, B and C across three verticals: entertainment & gaming, financial services, infrastructure & data analytics/Artificial Intelligence.
The fund covers 20 cities in North America, Europe and Asia.
“The base fund has been a fantastic success, but we are still only in the starting blocks of Web3. We believe that our early winners will grow even stronger. With the follow-on fund, we allow our partners to invest more into these companies,” says Fredrik Adolfsson, General Partner of TGV4 Plus.
General Partner Dušan Stojanović added: “We raised the money in record time in four months, and we believe this is the best time to invest during market corrections. I would say that it is much easier to see more clearly who the winners are now. This has created a high confidence level amongst our investors who have seen a large GP Commit and the first call being executed very quickly.”
Last September, TGV 4 Plus closed its fourth fund at over US$100 million to invest in blockchain companies, primarily in the Series B and Series C stages.
Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.
The post True Global Ventures’s Web3-focused follow-on fund TGV4 Plus hits US$146M first close appeared first on e27.