True Global Ventures ramps up investment in Animoca Brands to $38m

The Animoca Brands team in Hong Kong.

Singapore-based VC firm TGV 4 Plus and its follow-on-fund (FOF) have beefed up their investment in Animoca Brands, a Hong Kong-based gaming software firm and Web 3.0 investment powerhouse, to $38 million, per an announcement. 

TGV has recently invested an additional $21 million in the gaming giant — of this, $16 million was brought from the secondary market — two weeks after it had pumped in $17 million through convertible bonds, joining a $110-million funding round raised by Animoca from Temasek, Boyu Capital, and others.

“This is the largest investment TGV has ever made in one company as we see a large growth potential coming with massive adoption,” TGV General Partner Dušan Stojanović said in the announcement. 

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