True Global Ventures 4 Plus (TGV4 Plus), a venture capital company, has announced the completion of a $146 million fundraising round allocated for various Web3 projects, demonstrating investors’ persistent interest in cryptocurrency despite the present bad market.
The newest fund, termed the TGV4 Plus Follow On Fund, was headed by a group of 15 partners who invested an average of over $4 million in the fund. The bulk of the money will go into Web3 firms in TGV’s portfolio, with the rest going towards late-stage Web3 prospects.
TGV previously invested in many Web3 ventures across three industry verticals: entertainment and gaming, financial services, and artificial intelligence, utilizing a base fund devoted to late-stage Series A, B, and C.Dušan Stojanović, a general partner, stated: “It is much easier to see more clearly who the winners are now. This has created a high level of confidence amongst our investors.”
As he recommended other VCs to continue investing in crypto startups, Stojanovi also noted that regardless of market conditions, excellent teams with outstanding ideas at the right moment can always be found. The optimum investment time is during a crisis, not a bull market.
Huobi Global, a leading cryptocurrency exchange, established Ivy Blocks, a new investment arm with over $1 billion capital in cryptos.
Huobi Global’s chief financial officer, Lily Zhang, also stated that Houbi’s asset management department would offer liquidity investments to assist decentralized finance and Web3 businesses get off the ground.