Venture capital firm True Global Ventures 4 Plus (TGV4 Plus) announced the closure of its $146 million funding round for a wide variety of Web3 projects, emphasizing that investors have not lost interest in crypto despite the ongoing bear market.
With this latest closing, called the TGV4 Plus Follow-up Fund, over $62 million has been invested in the fund and is managed by a group of 15 general partners (average $4 million per investor). A large portion of this fund will be primarily transferred to Web3 companies in the TGV portfolio, while the remainder will be used to invest in Web3 opportunities at different stages.
TGV has previously invested in Web3 startups such as entertainment, gaming, financial services and artificial intelligence using 3 different funding lines, Series A, B and C. Examples of prominent TGV investments are The Sandbox, Animoca Brands and Forge.
Dušan Stojanović, one of TGV’s 15 general partners, shared his thoughts on investing in a bear market:
“It’s much easier now to see who the winners are. This has created quite a high level of trust among our investors.”
While advising other venture capital firms to continue investing in crypto projects, Stojanović said that times of crisis have helped uncover the strongest players:
“Whatever the market situation, there are always good teams with great products at the right time. The best time to invest is in times of crisis, not bull markets.”
You may be interested: Huobi Global invests $1 billion in DeFi and Web3 projects
Major crypto exchange Huobi Global launched Ivy Blocks, a new investment arm with $1 billion in capital, focused on DeFi and Web3 projects on Friday last week.
In addition to the cash support, Huobi will provide various services to selected projects, such as an asset management platform, a dedicated research arm, and a new blockchain incubator.
— Du Jun (@DujunX) June 11, 2022
Also, Huobi Global’s chief financial officer, Lily Zhang, confirmed that the firm’s asset management department will provide “liquidity investments” to help DeFi and Web3 projects get started and run.