We are pleased to announce the closing of our latest core fund, True Ventures V, LP at $310 million. Our entire team is exceptionally grateful for the steadfast support of our world-class investor base. We literally couldn’t be here today without the vision and commitment of our LPs, and for that we are so grateful.
When we created True 10 years ago, Phil and I committed to building a values-based firm that was solely dedicated to empowering and supporting the boldest creative founders of the early stage market.
We anticipated the resurgence of early stage venture at a time when many did not, and our innovative allocation model has consistently positioned us ahead of enormous markets such as that of the connected device, 3D printing, robotics, autonomous vehicles, and core sciences. We have been lucky enough to work with some truly exceptional companies, many of which have dramatically altered the way people live and work.
To say that it has gone well is an understatement – True now manages approximately $1.3 billion in investor capital, we have funded more than 220 companies, enjoyed exceptional exit success, and propelled 7,000 portfolio team members to achieve their career and life ambitions.
We built the True Platform in order to provide extensive education and collaboration opportunities to our companies, founders and their teams. Our founder platform is a tremendous source of inspiration, knowledge and know-how for these companies. Likewise, we are constantly learning from the incredible talent in the True family.
It’s an exciting time. Many of the markets in which we invest, including neuroscience, big data, connected devices, robotics, machine learning, and mobile, remain in their nascence. True is well positioned for the innovation and disruption that will occur across all of these industries in the decade ahead.
It’s deeply rewarding for me to see how much our team has grown and thrived together over these past 10 years. With the closing of Fund V, we are now stronger than ever and eager to support the aspirations of the next wave of creative founders who are redefining tomorrow.
Thank you all for your support and encouragement. We’re looking forward to another decade of surprising breakthroughs and advancements that will change lives.