True Ventures Closes Two New Funds
True Ventures has closed two new investment funds. True Core Fund VII is the firm's seventh early stage fund and closed at $465 million. True Select Fund IV, the firm's fourth select fund, closed at $375 million.
Core markets for True Core Fund VII include technology-enabled consumer brands, SaaS and infrastructure software, deep verticals in health and life sciences, and other select markets. True Select Fund IV will provide follow-on capital to existing True portfolio companies that exhibit high growth potential and large-scale opportunity.
"Our Select Funds renew our commitment to Core Fund companies that have demonstrated impressive growth and industry leadership," said Phil Black, co-founder of True Ventures. "It's not one-and-done with us. Our Select Funds, for example, allowed us to invest in five separate financing rounds leading up to Peloton's IPO last year."
True Ventures is also doubling down on its longstanding infrastructure of support for founders and their teams. "One of True's founding insights was that fortune favors the connected entrepreneur, and since our beginning we've invested heavily in connecting True founders and their teams with one another for learning, support and counsel," said Jon Callaghan, co-founder of True Ventures. "Our platform connects founders and aggregates resources so that even the smallest new team has access to hundreds of peers who have been in their position before. We've created a powerful place for founders to grow, thrive and collaborate. We're now magnifying our platform by putting even more resources – additional team members and dollars – into it."
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