True Global Ventures Invests $38 Million in Web3 Leader Animoca Brands

Global tech VC firm True Global Ventures has invested $38 million in Animoca Brands to help expand its reigns in Web3.

Sep 24, 2022
by Akira Ming
True Global Ventures Invests $38 Million in Web3 Leader Animoca Brands
News

True Global Ventures just pumped more money into Animoca Brands

Early-stage focused VC firm True Global Ventures (TGV) has invested another $21 million in Animoca Brands. Previously, it injected $17 million into the Web3 giant, bringing its total investment to $38 million. 

According to the announcement, TGV also participated in Animoca Brands' $110 million funding round led by Temasek. The VC firm has teamed up with more than 20 partners to support Animoca's mission of delivering digital property rights to the world and contributing to the creators' economy & Web3 ecosystem in the open metaverse. 

"We are happy to invest at scale in Web3, in a leading company like Animoca," said Kelly Choo, General Partner at True Global Ventures. 

TGV General Partner Dušan Stojanović added: "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."

True Global Ventures has been one of the early backers of Animoca Brands since 2019. To date, Animoca Brands has more than 380 investments in total, with growing rapid sales in multiple business units, such as Yuga Labs / Ape Coin, The Sandbox, REVV ecosystem, Blowfish, Darewise (Life Beyond), and Tiny Tap.

Speaking at TGV's 62nd conference in Paris last week, Yat Siu, the co-founder and executive chairman of Animoca Brands said: "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!"

Apart from Animoca Brands, TGV has invested in other Web3 companies such as The Sandbox, Forge Global, Chromaway, Coinhouse, GCEX, Chronicled, Enjinstarter, Iomob, Dedoco, and more. TGV is also open to investing in late-stage Web3 projects if the opportunity arises. 

Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
We have sent you an email, please confirm!


News Filter
Play Games Now
Galaxy Fight Club
Galaxy Fight Club
illuvium
illuvium
Gods Unchained
Gods Unchained