Singapore-based True Global Ventures 4 Plus (TGV4 Plus) has invested US$3 million in Enjinstarter, an IDO (Initial DEX Offering) launchpad for metaverse and blockchain gaming projects.
The Singapore-based startup will utilise the money to expand its operations and foray into other complementary business verticals, including metaverse innovation, game publishing and venture building.
Launched in early October 2021, Enjinstarter has helped more than 30 projects launch. Some notable projects that Enjinstarter has supported include Defina, The Killbox and PathDao, some of which have delivered 24-53x to investors from their public IDO price.
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Besides issuing tokens, Enjinstarter also helps game developers offer innovative ways to raise capital and fund their projects by selling virtual items such as NFTs. The platform also offers an incubation programme supported by an accredited partner network to provide projects with end-to-end support for developing sustainable strategies and launching successful campaigns.
True Global Ventures’ investment will help Enjinstarter build a stronger ecosystem offering through an integrated portfolio approach with the support of some of TGV’s partners and portfolio companies.
True Global Ventures is globally reputed for being the backers of Animoca and Sandbox, which has earned them a reputation for being a leading web3 investor and innovator.
“We are at the start of what I believe is the tipping point where Metaverses, Play-to-earn and GameFi go mainstream, which is to have traditional fun gaming experiences plus the concepts of Finance & Fintech blended into a singular user experience. I believe that Enjinstarter is the right place and the right time to help companies who would like to build up their resources and communities as quickly as possible so that they can get to the right market quickly,” added Kelly Choo, Partner of TGV4 Plus.
True Global Ventures 4 Plus invests in serial entrepreneurs in over 20 cities. The company is a distributed fund in cities like Singapore, Hong Kong, Taipei, Dubai, Abu Dhabi, Moscow, Stockholm, Paris, Madrid, Warsaw, New York, San Francisco, and Vancouver.
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Last November, True Global Ventures invested US$10 million in The Sandbox, an open NFT metaverse platform and a unit of Animoca Brands.
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