True Global Ventures returns to its roots

Sign up for the Daily Newsletter, sent exclusively to our premium subscribers. We break down the big and messy topics of Asia’s tech and startup community. Get the newsletter in your inbox everyday with a premium subscription.

Hello reader,

If you’re tired of hearing about generative AI, well too bad for you! The world is going full steam ahead into the tech, and nothing seems to be stopping it now.

Is this the start of something truly great or is it something a little more temporary, like the crazy NFT hype? Guess we’ll have to wait and see.

In the meantime, True Global Ventures (TGV) is quickly hopping onto the generative AI train, which should be a familiar experience for the firm. After all, when it was first founded in 2011, TGV’s investments focused heavily on AI.

Now, more than 11 years later, the VC is going back to its roots.

Today we look at:

• True Global Ventures’ return to AI
• A Singapore fintech firm’s goal to break even by 2025
• Other newsy highlights such as a US$10 million raise for a Singapore startup and B Capital’s new venture partner for its climate team.

Premium summary

Hopping back on

Image credit: Timmy Loen

In the spirit of generative AI, I plugged this article into ChatGPT for a 30-word summary.

This is what it gave me: Singaporean VC firm True Global Ventures (TGV) is shifting its focus back to AI startups with its rebranded Opportunity Fund. The fund will target generative AI firms in growth and late stages, with about 30% already deployed.

Not too shabby I guess.

• New directions: The firm’s Opportunity Fund was originally called the TGV4 Plus Follow On Fund, which the VC raised US$146 million for.
• Everyone wants in: According to TGV partner Kelly Choo, the VC has been receiving lots of demand from family offices to invest in generative AI and Web3 tech.
• Help yourselves. Literally: Choo also believes that generative AI’s strong suit is how it helps companies leverage their own proprietary data to form a better product or service. For example, restaurant point-of-sale startups can map out a better menu, reduce food waste, and predict where to open a specific kind of restaurant.

Calling it even

Join us and share the hardest challenges you’ve faced as a founder

Quick bytes