True Global Ventures Invests a Total of US$38m in Web3 Leader Animoca Brands
True Global Ventures 4 Plus Fund and Follow On Fund (TGV 4 Plus FoF) today announce a total investment of US$38m including a US$16m bought from the secondary market. TGV has previously communicated an investment of US$17m, this means that we have invested an additional US$21m.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220922005582/en/
True Global Ventures invests a total of US$38m in Web3 leader Animoca Brands (Graphic: Business Wire)
Animoca Brands recently raised a US$110m convertible led by Temasek, Bayou Capital and GGV, where TGV also participated.
TGV Partners across 20 cities around the globe support Animoca Brands’ mission to deliver digital property rights to the world's gamers and Internet users, leading the play-and-earn model for the creators economy, and contributing to the Web3 Builders ecosystem of the open metaverse.
Globally, Animoca Brands has grown sales rapidly through its major business units including Yuga Labs / Ape Coin, The Sandbox, REVV ecosystem, Blowfish, Darewise (Life Beyond), and recently Tiny Tap. Animoca Brands has 380 investments in total.
TGV has been an early backer of Animoca Brands since early 2019. The company became a unicorn in May 2021.
TGV General Partner Kelly Choo comments, “We are happy to invest at scale in Web3, in a leading company like Animoca.”
TGV General Partner Dušan Stojanović adds, “This is the largest investment TGV has ever done in one company as we see a large growth potential coming with massive adoption. With the Follow on fund newly set up, we invest in the best among our 15 portfolio companies in the TGV 4 Plus base Fund.”
Yat Siu, the co-founder and executive chairman of Animoca Brands, was in Paris last week for the TGV 62nd conference and commented: “TGV has been a friend and wonderful supporter of the company and its ecosystem such as The Sandbox since 2019 and we are honored that they continue to support Animoca Brands and its vision to deliver true digital property rights to the world!”
Besides Animoca Brands, the TGV 4 Plus base fund has also invested in other leading companies such as The Sandbox (a subsidiary of Animoca Brands), Forge Global, Chromaway, Coinhouse, GCEX, Chronicled, Enjinstarter, Iomob, Dedoco and others.
TGV 4 Plus Follow on Fund focuses on investing a majority of its capital into selected TGV 4 Plus base fund companies. The TGV 4 Plus Follow On Fund will consider making additional investments in other late stage Web3 deals as the opportunities arise.
To get in touch with TGV, you can contact us via our Contact page: https://www.tgv4plus.com/contact.html
###
About Animoca Brands
Animoca Brands, a Deloitte Tech Fast winner and ranked in the Financial Times list of High Growth Companies Asia-Pacific 2021, is a leader in digital entertainment, blockchain, and gamification that is working to advance digital property rights and contribute to the establishment of the open metaverse. The company develops and publishes a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilizing popular intellectual properties including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP™, and Formula E. It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, and TinyTap. Animoca Brands has a growing portfolio of more than 340 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas, and others. For more information visit www.animocabrands.com or follow on Twitter or Facebook.
About True Global Ventures
The TGV4 Plus Follow On Fund (TGV 4 Plus FoF) completed its first closing in June 2022 for US$146m. TGV 4 Plus FoF has 15 General Partners (GP) who lead the fund and its Investment Committee, investing more than US$62m of their own money into the fund. This represents a total GP commitment of over 40% of the total fund size and over US$4m per GP on average. TGV 4 Plus FoF focuses on investing a majority of its capital into selected TGV 4 Plus base fund companies. Existing portfolio companies include Animoca Brands, The Sandbox, Forge Global, Chromaway, Coinhouse, GCEX, Chronicled, Enjinstarter, Iomob and Dedoco. Portfolio companies leverage Web3 technologies, incorporating blockchain as a competitive advantage to drive change with proven products. TGV is a distributed fund with a presence in 20 cities, including Singapore, Hong Kong, Taipei, Dubai, Abu Dhabi, Stockholm, Paris, Luxemburg, Madrid, Warsaw, New York, San Francisco, and Vancouver.
Visit us at www.tgv4plus.com, and follow us on LinkedIn and Twitter.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220922005582/en/
Contact information
Media contact: Kelly Choo - info@trueglobalventures.com
About Business Wire
Business Wire(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Mary Kay Inc. Announces Expansion Into Denmark, Strengthening Its Commitment to Women's Empowerment in Scandinavia2.5.2024 19:07:00 CEST | Press release
Mary Kay Inc., a global beauty brand renowned for its commitment to female empowerment and entrepreneurship, is thrilled to announce that its products will now be sold in Denmark. This strategic move marks a significant milestone in Mary Kay's mission to enrich women's lives across the globe. With this launch, Mary Kay products are now available in all the Scandinavian and Nordic markets in partnership with Lesley Cosmetics, Mary Kay’s authorized distributor in Scandinavia. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240502841084/en/ Mary Kay Inc., a global beauty brand renowned for its commitment to female empowerment and entrepreneurship, is thrilled to announce that its products will now be sold in Denmark. Denmark, known for its strong focus on gender equality and women's rights, stands as one of the most egalitarian societies in the world, ranking third in the EU on the Gender Equality Index. (Photo: Mary Kay Inc.) D
Interactive Brokers Launches Daily Options on the CAC 40 ® Index2.5.2024 16:00:00 CEST | Press release
Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, today announced the availability of Daily Options on the CAC 40® index, further expanding Interactive Brokers’ robust product suite. Daily Options on the CAC 40® index provide experienced investors with another means to execute short-term trading strategies and manage exposure to the French stock market. Milan Galik, Chief Executive Officer of Interactive Brokers, commented on the launch, "We are pleased to offer Daily Options on the CAC 40® index, which will allow our clients to balance risk and swiftly adjust their portfolios in response to market movements. At Interactive Brokers, we strive to equip our clients with an array of products to find global opportunities, and this new offering underscores our commitment to providing traders with comprehensive product solutions.” Daily Options on the CAC 40® index cater to growing demand from institutional and retail investors for options with daily expirations. The
AMRA Medical’s Muscle Composition Analysis Used to Evaluate the Effect of Liraglutide Treatment in Obesity2.5.2024 15:35:00 CEST | Press release
AMRA Medical - a health informatics and precision medicine company that is pioneering body composition research through gold-standard MRI-based analysis platforms - collaborated on a study driven by University of Texas Southwestern and University Hospital Cleveland to publish new data revealing the effect of liraglutide treatment on muscle composition in adults with obesity. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240502719692/en/ Credit: Collaboration with Dr. Ian J Neeland, University Hospitals Cleveland. Data from NCT03038620 (ClinicalTrials.gov identifier) analysed with AMRA® Researcher The analysis included 128 diabetes-free adults with obesity who received a lifestyle intervention in addition to being randomized to either a liraglutide (n = 73) or a placebo (n = 55) treatment group. Using the proprietary MRI-based AMRAⓇ Researcher, baseline and follow-up muscle composition analyses were performed, with the prima
Brightcove Integrates New AWS-Powered Generative AI Solution to Enhance Its Award-Winning Customer Service2.5.2024 15:00:00 CEST | Press release
Brightcove (NASDAQ: BCOV), the world’s most trusted streaming technology company, today shared it has implemented Amazon Q Business, a new generative AI assistant on Amazon Web Services (AWS). Using its own public documentation, product, and release notes, Brightcove is leveraging the new assistant internally for real-world use cases applicable to the media and entertainment technology sector. Brightcove is tapping into the technology to build a program to equip its global services and customer success team to further bolster its award-winning customer service. As an early adopter of Amazon Q, Brightcove has launched the “Brightcove Expert Bot,” an AI-powered chatbot embedded into the internal tools, as a new resource for the customer and product support teams. Streamlining its customer support processes enables employees to quickly and effectively find relevant information, solve technical cases, analyze support requests, summarize support tickets, and use those results to help recomm
Power2Drive Europe: Contributing to the Energy Transition With Bidirectional Charging2.5.2024 14:39:00 CEST | Press release
E-mobility is about much more than driving on climate-neutral electricity from renewable sources. The batteries of electric vehicles can be used as temporary storage. And it’s not just vehicle owners who benefit from this: In the medium-term, bidirectional charging can take the burden off distribution grids while making them more flexible. Power2Drive Europe, the international exhibition for charging infrastructure and e-mobility, showcases the latest state of the art. As part of The smarter E Europe, the continent’s largest alliance of exhibitions for the energy industry, it will take place from June 19–21, 2024, at Messe München. The Power2Drive Europe Conference, the industry's meeting point and forum for exchange and discourse among experts, stakeholders, and thought leaders in the new mobility sector, kicks off one day earlier. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240502196803/en/ Power2Drive Europe 2024 highl