True Global Ventures
True Global Ventures 4 Plus Rebrands Its “Follow On Fund” to “Opportunity Fund” to Deepen the Focus on the Best Generative AI and Web3 Leaders
True Global Ventures 4 Plus Rebrands Its “Follow On Fund” to “Opportunity Fund” to Deepen the Focus on the Best Generative AI and Web3 Leaders
Singapore – True Global Ventures (TGV) announced the strengthening of commitment to Generative AI beyond just Web3 with our latest rebranded fund, the “TGV 4 Plus Opportunity Fund”. This rebranding is to better position ourselves to leverage the best growth-stage Generative AI and Web3 investment opportunities during the current market conditions. Generative AI goes deeper than just text based chats, with more fundamental use cases for productivity gains, additional revenue streams, and even creating unfair competitive advantages for many organisations if they know how to harness them correctly. Based on TGV’s research, unfortunately many organisations and investors have not prioritised leveraging these disruptive solutions, and so we believe there is still an opportunity for large value creation in these generative AI companies. The latest fund was previously known as the “TGV 4 Plus Follow On Fund”, which had its first close of US$146 million in June 2022. The General Partners committed over 40% of the current total fund size. In addition to investing in Web3 leaders with a roadmap to employ Generative AI, the TGV 4 Plus Opportunity Fund will now also invest in growth-stage companies that specialise in Generative AI. TGV has been investing in early-stage AI companies since 2011, making it an integral part of our investment thesis. While we only started investing in Web3 in 2016, many of the AI companies that we have previously invested in or tracked are now becoming mature and entering their growth-stage phase. Several of our portfolio companies have already implemented Generative AI solutions into their businesses, particularly in the gaming and open Web3 Metaverses sectors. These solutions can quickly generate new landscapes, virtual items, avatars, non-playable characters, music, and more.
“We are glad to rebrand the fund as we see new and good opportunities. Contrary to the popular wait-and-see approach, with a curated pipeline of investments, we select industry leaders with attractive valuations and the potential to generate good returns. Through our global network of partners, we then help them turn real winners in a rapidly growing market,” says Konrad Wawruch, Managing Partner of the TGV 4 Plus Opportunity Fund.
About True Global Ventures TGV4 Plus Opportunity Fund (“Opportunity Fund”) completed its first closing in June 2022 for US$146m. The Opportunity Fund General Partners (GPs) who lead the fund and its Investment Committee, invest more than US$62m of their money into the fund. This represents a total GP commitment of over 40% of the total fund size, one of the highest in the Venture Capital industry. The Opportunity Fund focuses on investing its capital into selected TGV 4 Plus base fund companies. Some of the existing portfolio companies include Ledger, The Sandbox, Animoca Brands, Chromaway, GCEX, etc. TGV has its focus in 20 cities globally, mainly in Singapore, Hong Kong, Dubai, Stockholm, Paris, London, San Francisco, New York, etc. Visit us at https://www.tgv4plus.com/, and follow us on LinkedIn and Twitter.
Issuer: True Global Ventures Key word(s): Information technology
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