True Global Ventures pours $3m into 🇸🇬 IDO launchpad

Singapore-based Enjinstarter, an initial DEX offering (IDO) launchpad for metaverse and blockchain gaming projects, has raised US$3 million from True Global Ventures (TGV) through the VC’s US$100 million TGV 4 Plus fund.

The investment is part of an ongoing US$5 million series A round of Enjinstarter, where TGV will be the lead investor.

Image credit: Enjinstarter Medium page

Enjinstarter launched in early October 2021 as a blockchain gaming, metaverse, and entertainment-focused launchpad for IDOs and initial NFT offerings. It supports creators and game developers by enabling them to build and develop their blockchain and digital asset strategies.

The company is a launchpad that is affiliated with Enjin, but it is owned and operated independently. Co-founded by Maxim Blagov and Witek Radomski, Enjin is a blockchain firm developing products that make it easy for everyone to use NFTs.

Enjinstarter said that it has helped more than 30 projects launch their solutions and raise more than US$3 million via their platform. Among the notable projects that it has supported include Defina, The Killbox, and PathDAO. Enjinstarter added that some of these projects have delivered between 24x to 53x worth of returns to investors from their public IDO prices.

Apart from issuing tokens, the company also helps game developers offer innovative ways to raise capital and fund their projects by selling virtual items such as NFTs. The platform also offers an incubation program supported by an accredited partner network to provide projects with end-to-end support for developing sustainable strategies and launching successful campaigns.

TGV is a global web 3.0 investor that has invested in Animoca Brands and The Sandbox.

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Recently, TGV led a US$17 million series B round in French crypto app Coinhouse. In November 2021, it also invested US$1.3 million in wallet-less NFT platform Forza Ikonia.