True Global Ventures beats $100m goal for blockchain investment fundraise
Singapore-headquartered True Global Ventures has beaten its $100m target for its blockchain investment fundraise True Global Ventures 4 Plus.
The firm said it would use the fund to primarily target late-stage Series B and C rounds across the entertainment, infrastructure, financial services, data analytics and artificial intelligence sectors.
TGV 4 Plus fund has been used to invest in five companies to date, including Animoca Brands, a unicorn in ‘play-to-earn’ blockchain gaming and non-fungible tokens (NFTs), and Forge Global, a secondary private markets specialist.
It has also backed renewable Bitcoin mining company Canada Computational Unlimited and gaming metaverse company The Sandbox.
True said that 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 such as blockchain will accelerate the mainstream adoption of digital currencies, it added.
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.
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Text source: MCC.EXCHANGE
