Singapore-based blockchain fund True Global Ventures (TGV) has announced the closing of its fourth fund at over US$100 million.

Called True Global Ventures 4 Plus (TGV 4 Plus), the fund targets blockchain companies, primarily in the Series B and Series C stages.

TGV 4 Plus look for companies that bring the latest technology in Distributed Ledger Technology (DLT) across four verticals: entertainment, infrastructure, financial services, and data analytics & Artificial Intelligence.

Also Read: The art of blockchain: What is the NFT craze all about?

It was founded by 40 partners, who contributed 27 per cent of the fund. Its Limited Partners include several entrepreneurs, business angels, family offices and institutional investors, such as Singapore’s Octava Family Office. True Global Ventures’s Singapore-based partners include Beatrice Lion, Celine Lecotonnec, Dušan Stojanović, Jani Rautiainen, Kelly Choo, Olivier Legrand.

The fund supports its portfolio companies to accelerate growth in new markets, expand internationally, introduce new clients, build management teams, establish new partnerships and leverage its 3,000+ B2B relationships across the globe.

To date, TGV has invested in five companies. They are Animoca Brands (blockchain gaming and NFT), Forge Global (secondary private market), The Sandbox (gaming metaverse), Canada Computational Unlimited (bitcoin mining with 100 per cent renewable energy, and QuantumRock (AI asset management).

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 per cent from 2021 to 2028.

Much of this growth comes from financial institutions looking to deploy blockchain applications. These include non-fungible tokens (NFT), 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.

Tan Ting Yong, Investment Director of Octava Family Office, 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 to help these companies grow, on top of the money they invest into them.”

Also Read: How blockchain-powered fintech services can improve financial inclusion

“TGV team has created incredible value to their portfolio companies by helping them with client and partner introductions, and also with next round financing and exits,” added Luke Lim, Managing Director at Phillip Securities.

True Global Ventures has a presence in 20 cities across the globe, including Singapore, Hong Kong, Taipei, Seoul, Dubai, Moscow, London, Stockholm, Paris, Warsaw, New York, San Francisco, Vancouver, among others.

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