The venture capital firm True Global Ventures 4 Plus (TGV4 Plus) has announced the closing of a $ 146 million funding round earmarked for a wide range of Web3 projects – highlighting investors’ continued interest in crypto despite an ongoing bear market.
The latest closure, called the TGV4 Plus Follow On Fund, was led by a group of 15 general partners who averaged more than $ 4 million (more than 40%, or $ 62 million) in the fund. The majority of the funding will be injected primarily into Web3 companies within TGV’s portfolio, while the remainder will be used to invest in late-stage Web3 opportunities.
TGV has previously invested in numerous Web3 initiatives using a base fund dedicated to the late-stage Series A, B and C across three business verticals: entertainment and games, financial services and artificial intelligence. Prominent TGV investments include The Sandbox, Animoca Brands and Forge.
Dušan Stojanović, one of TGV’s 15 general partners, shared his thoughts on investing in the bear market:
“It is much easier now to see more clearly who the winners are. It has created a high level of confidence among our investors. “
Stojanović also shared that market correction helps to select the strongest players, as he advised fellow VCs to continue investing in crypto-enterprises:
“Regardless of the market situation, there are always good teams that have good products at the right time. Crisis is the best time to invest, not the bull market.”
Related: Huobi Global launches $ 1 billion investment arm focused on DeFi and Web3
Last week, Friday, major crypto exchange Huobi Global launched Ivy Blocks, a new investment arm with a capital of more than $ 1 billion in crypto assets.
In addition to the cash injection, Huobi offers other services, including an asset management platform, a new blockchain incubator, and a dedicated research arm.
#Huobi launches 1 BILLION investment arm #BUIDL defi en # web3! https://t.co/I1XJ1S4y1O
– Du Jun (@DujunX) 11 June 2022
In addition, Lily Zhang, Huobi Global’s chief financial officer, confirmed that Houbi’s asset management division will provide “liquidity investments” to help decentralized finance and Web3 projects take off.