True was founded to serve the needs of early stage entrepreneurs.
True was born in 2005 out of a simple vision: create a new kind of venture capital firm that focuses on supporting the earliest stage Founders and their teams. Our collective experience has taught us that the most important ingredient to a startup’s success is the entrepreneur.
“True” means alignment.
Truing a bicycle wheel brings everything into alignment. We named our firm “True” because we started with the ambition to realign the entire venture capital industry to be more focused on our customers: entrepreneurs. We believe our job as VCs is to magnify the creative power of entrepreneurs.
We believe in the power of community and education.
From the beginning, we committed to providing the Founders in our portfolio with resources to empower their employees, families and communities. We have developed a communication platform and several unique educational opportunities for our Founders and their teams.
We believe in capital efficiency.
More venture; less capital. We strive to take bolder risks earlier. Often, these don’t require “big” dollars, and in our experience, too much capital early on can constrain creativity. Our funds are designed to provide the appropriate first check and follow early success with significant follow-on investments. At True, we may start small, but we never think small.
Our strategy dictates our fund size.
We are focused on what we see as the most promising stage of entrepreneurial creativity and return potential: seed and Series A. With approximately $900 million under management, our four funds are small enough to invest at these levels, but big enough to support our companies throughout their entire lifecycle.
We target meaningful ownership positions.
We like to be the first institutional investor in our companies, and we target initial investments of $1-2 million. As a result, we are often the largest outside shareholder in the company until exit. Across all three of our active funds, our median initial investment is $1.4 million, and our median post-deal ownership is 20%.
Our relationships are everything.
Over the past 20 years, we have developed deep relationships with the Founders, CEOs and partners with whom we have had the privilege to work. This network of trusted friends and colleagues provides the source of the most promising opportunities and valuable insights. Nearly half of the opportunities we invest in are Founder-sourced.
Our business is based on mutual respect and trust.
We put the full weight of our resources, advisors and team behind our companies. We’re in it for the long haul.