True Global Ventures announced it had invested $38 million in Web3 and Metaverse company Animoca Brands. Together with the True Global Ventures 4 Plus Fund and follow-on fund, the total investment reached $38 million.
Related: Animoca Brands completes a capital raise of $75 million for open metaverse
TGV General Partner Dušan Stojanović said the following:
“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.”
Animoca Brands, which has raised $110 million from the investment round led by Temasek in the past weeks, will use the financing to fulfill its mission. The big name behind The Sandbox has a total of 380 investments.
Animoca Brands Co-Founder Yat Siu said at the 62nd TGV conference in Paris:
“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!”
The TGV 4 Plus fund has invested in many different companies and Animoca Brands. These companies include Forge Global, Chromaway, Coinhouse, GCEX, Chronicled, Enjinstarter, Iomob, Dedoco, and many more, apart from Animoca Brands subsidiary The Sandbox.
