True Global Ventures Closes Blockchain Fund at Over $100 Million
(Bloomberg) -- True Global Ventures is closing its 4 Plus Fund at more than $100 million amid rising interest in funding blockchain startups.
The fund, which was oversubscribed, focuses on blockchain companies primarily in late-stage equity funding Series B and C, in areas like entertainment and artificial intelligence, the company said in a statement. It was funded by 40 partners who contributed 27%, along with a number of entrepreneurs, business angels, family offices and institutional investors.
“We find early-stage companies, invest in them and commit hard and early,” said David S. Rose, founder of Gust LLC and one of the TGV 4 Plus partners, in an interview.
The fund has invested in five companies so far: Animoca Brands, Forge Global, The Sandbox, Canada Computational Unlimited Inc. and QuantumRock. Animoca has already achieved unicorn status, and Rose said Sandbox has the potential to become one “in the very near future.”
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