Singapore-based True Global Ventures announced the strengthening of commitment to Generative AI beyond just Web3 with its latest rebranded fund, the “TGV 4 Plus Opportunity Fund”.
This rebranding aims to better position the firm to leverage the best growth-stage Generative AI and Web3 investment opportunities during the current market conditions. Generative AI goes beyond text based chats, with more fundamental use cases for productivity gains, additional revenue streams, and creating competitive advantages for many organisations if they know how to use them correctly.
The latest fund was previously known as the “TGV 4 Plus Follow On Fund”, which had its first close of US$146m 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.
Industry transforming technologies like Generative AI are now being used in many more traditional industries like property management, legal firms, consulting advisory, customer service, construction, etc.
Led by Konrad Wawruch, Managing Partner and Fredrik Adolfsson, 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 portfolio companies have already implemented Generative AI solutions into their businesses, particularly in the gaming and open Web3 Metaverses sectors. These solutions can generate new landscapes, virtual items, avatars, non-playable characters, music, and more.
The TGV 4 Plus Opportunity Fund has invested in two global market leaders so far:
1. Ledger, the global leader in the digital asset self custody space.
2. Animoca Brands, global leader in Web3, which champions true digital asset ownership in the entertainment and open metaverse segments, having gained various accolades including being on the Financial Times (FT) ranking of High-Growth Companies Asia-Pacific 2023 and Fortune’s Crypto 40 list.
Other portfolio companies include The Sandbox, 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.
FinSMEs
22/04/2023