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  • Writer's pictureTania Tugonon

Investor Spotlight: True Ventures



We previously posted this on our Company Linkedin page


True Ventures is a prominent Silicon Valley venture capital firm renowned for its extensive expertise and significant presence in the early-stage ecosystem. True specializes in seed and Series A financing, supporting entrepreneurs in today’s fastest-growing markets. Additionally, True invests in later stages as well.


With over $3.8 billion deployed across 350+ teams, True has collaborated closely with founders from a wide spectrum of industries, including personal wellness, robotics, therapeutics, climate technologies, ocean exploration, and more. Moreover, the firm has a history of successful investments that have gone public, including names like Fitbit, Peloton, and Ring.


At True, relationships are its most valuable resource, providing unwavering support to founders on their entrepreneurial paths. To achieve this, True annually hosts its Founder Camp, a gathering where founders converge to create a safe space for idea exchange. Additionally, True organizes Leadership Summits catering to senior leaders, executives, product leaders, people team leaders, and more. Through these events, True actively contributes to the ongoing growth of founders and leaders while cultivating a supportive ecosystem where the mutual sharing of ideas and advice thrives.


True also has its True Ventures Fellowship program, designed to provide students eager to explore entrepreneurship and venture capital. Tailored for rising college juniors and seniors, this initiative pairs participants with select True Portfolio companies.


True Ventures was founded by John Burke, Jon Callaghan, and Phil Black in 2005. Jon Callaghan and Phil Black remain at True Ventures.


Jon, a co-founder of True, began his venture capital career in 1991 at Summit Partners before establishing three companies of his own. Before co-founding the firm, he was a managing director at Gloespan Capital Partners. Phil, also co-founder of True, gained venture expertise while at Summit Partners, where he crossed paths with Jon.


True Ventures has offices in Palo Alto, California, and San Francisco.


In recent news, True Ventures led a funding round of AccessPay, the leading bank integration provider, securing $24 million through a combination of equity and debt financing. This round was accompanied by Manchester-based investment firm Praetura Ventures, in addition to contributions from NatWest, Mastercard, Route 66 Ventures, and Beringea.


In True's 2023 Year in Review, the firm invested $63.6 million in 21 new investments and $133.9 million in follow-on financing.  Overall, ~$647.1 million was invested in True portfolio companies including outside capital over the 2023 period.


With an impressive record of investments and a dedication to nurturing entrepreneurial talent, True Ventures remains at the forefront of shaping the future of tech, ocean exploration, personal wellness, and beyond.


At various points over the last 15 years, our team has been fortunate to work with several companies within the True portfolio. 











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