Metaverse Launchpad Enjinstarter Raises $5M in Total from True Global Ventures

True Global Ventures previously invested $3 million in Enjinstarter’s ongoing Series A round.
Image source: Enjinstarter

Quick take:

  • Part of the funding came from True Global Venture’s $100 million TGV 4 Plus base fund.
  • Enjinstarter is an IDO launchpad for blockchain games and the metaverse.
  • True Global Ventures has invested in Animoca Brands and The Sandbox.

Enjinstarter, an IDO launchpad for blockchain games and the metaverse, has raised $5 million in total from global technology equity venture capital firm, True Global Ventures (TGV). 

Part of the funding came from True Global Venture’s $100 million TGV 4 Plus base fund, dedicated to Web3 companies, primarily in late-stage Series A, B and C across 3 verticals: entertainment & gaming, financial services, infrastructure & data analytics / Artificial Intelligence (AI).

The TGV 4 Plus base fund invested $3 million into Enjinstarter’s ongoing Series A round in January. Enjinstarter used the investment to expand its operations, and into other complementary business verticals including metaverse innovation consulting, game publishing and venture building.

Launched in October 2021, Enjinstarter is a blockchain gaming, metaverse and entertainment launchpad for initial DEX offerings (IDO) and initial NFT offerings. It has since helped launch over 30 metaverse and GameFi projects including Defina, The Killbox and PathDao. 

Besides issuing tokens, Enjinstarter also provides game developers with a way to explore other innovative ways of raising capital to fund their projects through the sale of virtual items as NFTs. 

The platform runs an incubation program that is supported by an accredited partner network. It provides projects with end-to-end support to develop sustainable strategies and launch successful campaigns.

Enjinstarter is built on Enjin’s JumpNet blockchain, which is independently owned and operated. Enjin is a blockchain tech company co-founded by Maxim Blagov and Witek Radomski. 

In 2009, the company launched a gaming community platform called the Enjin Network and has grown it to more than 20 million users over the course of a decade. Following a successful ICO in 2017, Enjin established itself as a blockchain ecosystem developer, building a suite of user-first blockchain products that enable anyone to easily manage, explore, distribute, and integrate blockchain assets. 

TGV’s investment will enable Enjinstarter to build a stronger ecosystem by offering an integrated portfolio approach with the support of some of TGV’s partners and portfolio companies.

Following the success of its True Global Ventures 4 Plus base fund which has invested in Web3 leaders like Animoca Brands, The Sandbox, Forge, Chromaway, Coinhouse, GCEX, Chronicled and others, TGV announced its first closure of its $146 million Follow On fund on Jun 15.

The TGV Follow On fund will focus on investing a majority of its capital into selected TGV 4 Plus base fund companies as well as other late-stage Web3 deals opportunistically.

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