True Global Ventures Sees the Upside in Self-Custody Solutions

As the era of digital ownership continues to evolve, secure digital asset management has become increasingly important. But unfortunately, scandals and breaches have diminished trust in third-party custody solutions like digital wallets and exchanges. All of which has increased demand for self-custody hardware holders can use to securely store, organize, and manage their digital assets independently.

Recently, True Global Ventures 4 Plus, commonly known as TGV, invested $24 million in Ledger, highlighting the importance of self-custody solutions and secure digital asset management. TGV is a Singapore-based venture capital firm that invests in cutting-edge, game-changing technology companies from around the world that have the potential to revolutionize industries. Currently, the VC firm manages two funds, the TGV4 Plus Fund and the TGV4 Plus Opportunity Fund. The TGV4 Plus Opportunity Fund invests in B+ stage companies that have already matured, while the TGV4 Plus Fund invests in a mix of early-stage companies and more established ones. More than 20% of its portfolio is dedicated to early-stage investments.

Why TGV Invested in Ledger

Both of TGV’s funds are focused on the following verticals: Generative AI, Infrastructure & Data Analytics, Entertainment & Gaming, and Financial Services. And both funds were investors in Ledger. As TGV partner Sergey Dashkov explains, the reason was simple.

“Self-custody hardware, or hardware wallets, are vital as they offer users complete control over their digital assets, minimizing the risk of security breaches, hacks and thefts,” said Dashkov. “In a decentralized ecosystem, this level of control is a must. And we invested in Ledger because they are the clear market leader in the space.”

Paris-based Ledger has been leading the market in providing hardware wallets for digital asset storage since 2014. The company has shipped more than 4 million units to customers across 190 countries. And since the introduction of the company’s flagship product, the Nano S, Ledger has emerged as the dominant player in the market. Its wide range of innovative self-custody solutions now includes the Nano S Plus, Nano X, Ledger Live and the recently launched Ledger Stax, which is expected to reinforce the company’s market leadership.

Predicting Future Trends

Ledger’s recent funding round gave the company a total valuation of more than $1.3 billion. And investors believe Ledger is already well into its next stage of growth. According to Dashkov, recent troubles with centralized exchanges and banks have fueled demand for self-custody solutions. And he expects the market to continue growing.

“The recent troubles with exchanges like FTX have highlighted the vulnerabilities of the centralized model, which has led to increased interest in self-custody solutions,” said Dashkov. “In addition, inflation and other problems in the TradFi sector have made crypto more of a safe haven. That’s why at TGV we believe that Ledger’s growth will only continue to accelerate in 2023 and beyond.”

With investments in Forge, Animoca Brands, The Sandbox and now Ledger, TGV is making some solid predictions about the future of tech. According to its recently released Web3 megatrends for 2023, one of the firm’s big predictions is “Centralization is dead. Decentralization is more than back!” And that’s another one of the reasons it is backing Ledger.

“There is no doubt that decentralized asset ownership is an ongoing trend with great potential,” said Dashkov. “Any instability in the TradFi and DeFi markets only strengthens its appeal, making Ledger an essential product for financial security for individuals and institutions.”

TGV’s other megatrend predictions include:

Buying secondary shares in 2022’s winners is going to be way more attractive in 2023
Consumer demand will accelerate the need for security and privacy
Open Metaverses will cross the chasm to become mainstream
Decentralized AI in Web3 will gain real user traction

The thinking behind each of TGV’s “5 Web3 Megatrends for 2023” can be found HERE.

Final Thoughts

The investment made by TGV into Ledger is a milestone moment for the world of digital assets. It signifies that demand for self-custody solutions and secure digital asset management are on the rise. It also supports TGV’s belief that centralization is dead, and decentralization is more than back. And ultimately, it’s great news for institutions and individuals that want to protect their hard-earned digital assets.

“The use of non-custodial solutions gives users greater freedom and flexibility while providing enhanced security for their digital assets,” added Dashkov. “And as the adoption of these assets continues, cutting-edge technology companies like Ledger will become more vital. It’s an exciting era for those of us in the blockchain community.”

To learn more about TGV, check out their Website. And to see what Ledger can do for you, check out their latest products.

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