True Global Ventures (TGV) announced the strengthening of commitment to Generative AI beyond just Web3 with its latest rebranded fund, the “TGV 4 Plus Opportunity Fund”. This rebranding is to better position the company to leverage the best growth-stage Generative AI and Web3 investment opportunities during the current market conditions.
Generative AI goes deeper than just text based chats, with more fundamental use cases for productivity gains, additional revenue streams, and even creating unfair competitive advantages for many organisations if they know how to harness them correctly.
Industry transforming technologies like Generative AI are now being used in many more traditional industries like property management, legal firms, consulting advisory, customer service, construction, etc.
Based on TGV’s research, unfortunately many organisations and investors have not prioritised leveraging these disruptive solutions, and so “we believe there is still an opportunity for large value creation in these generative AI companies”, the company said in a press statement.
The latest fund was previously known as the “TGV 4 Plus Follow On Fund”, which had its first close of US$146 million in June 2022. The General Partners committed over 40% of the current total fund size.
In addition to investing in Web3 leaders with a roadmap to employ Generative AI, the TGV 4 Plus Opportunity Fund will now also invest in growth-stage companies that specialise in Generative AI.
TGV has been investing in early-stage AI companies since 2011, making it an integral part of our investment thesis. While we only started investing in Web3 in 2016, many of the AI companies that we have previously invested in or tracked are now becoming mature and entering their growth-stage phase.
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