# Trinity Ventures: portfolio, investments and team

> Trinity Ventures is a vc firm based in United States. 291 investments on record, latest Oct 2025. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/trinity-ventures (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Trinity Ventures

Filed with the SEC to raise a fund in Jan 2025, closing $285M. Last cheque observed Oct 2025.

Email

Quiet New fund $285M, Jan 2025 VC firm

Seed Series A Series B Enterprise Infrastructure Commercial Real Estate Car Sharing

Follow Trinity Ventures and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Ftrinity-ventures)

Cheques on record

**0%** of best year **0** **cheques in 12 months**, 291 on record

Since the last cheque **366** days **00** hrs **00** min **00** sec

Median round **$15M** Rounds led **4 of 291** Sole investor **31 rounds** Exits **65 from the portfolio** Mostly in **United States, 95%**

Pitch Trinity Ventures

## Trinity Ventures highlights

- 01 291 rounds on record
- 02 Mostly Series B and Series A: 56% of its rounds
- 03 Sole investor in 31 rounds, median $3.2M
- 04 65 exits from the portfolio

## What they do

> A more personal approach to early-stage investing From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Up to $15M as they say
- **Stages:** Seed Series A Series B Growth Pre-IPO
- **Sectors:** Enterprise Infrastructure Commercial Real Estate Car Sharing
- **Based in:** Menlo Park, United States
- **Cold pitches:** Not accepted

## The record

Every round we can evidence, newest first **291 appearances**

- **2025** 1 round
- **Oct** **[Uluu](https://millionrounds.com/company/uluu)** Series A · AU · Startup Daily **$16M** With 5 others
- **2020** 1 round
- **May** **[Code Climate](https://millionrounds.com/company/code-climate)** Series B · US · Foundry Group **Undisclosed** With 4 others
- **2019** 8 rounds
- **Nov** **[Cultivate](https://millionrounds.com/company/cultivate)** Series A · US · Markets **$8.0M** *Led*
- **Sept** **[Gatsby](https://millionrounds.com/company/gatsby)** Series A · US · FinSMEs **$15M** With 4 others
- **Sept** **[Baton Systems](https://millionrounds.com/company/baton-systems)** Series A · US · FinSMEs **$12M** *Led*
- **Aug** **[Zero](https://millionrounds.com/company/zero)** US · FinSMEs **$2.8M** With 1 other
- **Jul** **[Pipefy](https://millionrounds.com/company/pipefy)** Series B · US · VentureBeat **$45M** With 2 others
- **Jun** **[Squire](https://millionrounds.com/company/squire)** Series A · US · FinSMEs **$8.0M** *Led*
- **Jun** **[Valtix](https://millionrounds.com/company/valtix)** US · FinSMEs **$14M** With 2 others
- **Jun** **[Apollo](https://millionrounds.com/company/apollo)** US · FinSMEs **$22M** With 2 others
- **2018** 2 rounds
- **Sept** **[SynapseFI](https://millionrounds.com/company/synapsefi)** Series A · US · TechCrunch **$17M** *Led*
- **Jun** **[Weights & Biases](https://millionrounds.com/company/weights-and-biases)** Series A · US · FinSMEs **$5.0M** With 1 other
- **2017** 1 round
- **Feb** **[BirdEye](https://millionrounds.com/company/birdeye)** US · FinSMEs **$25M** With 1 other
- **2016** 5 rounds
- **Dec** **[Dynamic Signal](https://millionrounds.com/company/dynamic-signal)** US · FinSMEs **$25M** With 2 others
- **Oct** **[Serverless](https://millionrounds.com/company/serverless)** Seed · US · FinSMEs **$3.0M** Sole investor
- **Sept** **[Mobilize](https://millionrounds.com/company/mobilize)** Series A · US · FinSMEs **$6.5M** Sole investor
- **Aug** **[Auth0](https://millionrounds.com/company/auth0)** Series B · US · FinSMEs **$15M** Sole investor
- **Jun** **[Outreach](https://millionrounds.com/company/outreach)** Series A · US · FinSMEs **$18M** Sole investor
- **2015** 23 rounds
- **Dec** **[Nestio](https://millionrounds.com/company/nestio)** Series A **$8.0M** With 5 others
- **Nov** **[Ruby Ribbon](https://millionrounds.com/company/ruby-ribbon)** Series C · US **$7.5M** With 3 others
- **Nov** **[ProtectWise](https://millionrounds.com/company/protectwise)** Series B · US **$20M** With 4 others
- **Oct** **[Gobble](https://millionrounds.com/company/gobble)** Series A · US **$11M** With 5 others
- **Oct** **[Fieldwire](https://millionrounds.com/company/fieldwire)** Series A · US **$6.6M** With 3 others
- **Oct** **[Simility](https://millionrounds.com/company/simility)** Seed · US **$1.5M** Sole investor
- **Aug** **[ServiceMax](https://millionrounds.com/company/servicemax)** Series F · US **$82M** With 12 others
- **Jul** **[Bulletproof Executive](https://millionrounds.com/company/bulletproof-executive)** Series A · CA **$9.0M** Sole investor
- **Jul** **[VTS](https://millionrounds.com/company/vts)** Series B · US **$21M** With 1 other
- **Jul** **[Preact](https://millionrounds.com/company/preact)** Venture · US **$5.1M** With 4 others
- **Jun** **[RadiumOne](https://millionrounds.com/company/radiumone)** Series C · US **$54M** With 4 others
- **Jun** **[Mayvenn](https://millionrounds.com/company/mayvenn)** Series A · US **$10M** With 7 others
- **Jun** **[Cohesity](https://millionrounds.com/company/cohesity)** Series B · US **$55M** With 8 others
- **Jun** **[Cyphort](https://millionrounds.com/company/cyphort)** Series C · US **$30M** With 4 others
- **May** **[Meteor](https://millionrounds.com/company/meteor)** Series B · US **$20M** With 2 others
- **Apr** **[ZIRX](https://millionrounds.com/company/zirx)** Series B · US **$30M** With 5 others
- **Apr** **[Docker](https://millionrounds.com/company/docker)** Series D · US **$95M** With 9 others
- **Mar** **[Jama Software](https://millionrounds.com/company/jama-software)** Series C · US **$20M** With 2 others
- **Mar** **[Aryaka Networks](https://millionrounds.com/company/aryaka-networks)** Series C · US **$16M** With 4 others
- **Mar** **[harvest.ai](https://millionrounds.com/company/harvest-ai)** Seed · US **$2.3M** Sole investor
- **Feb** **[Fieldwire](https://millionrounds.com/company/fieldwire)** Seed · US **$1.1M** With 5 others
- **Jan** **[MileIQ](https://millionrounds.com/company/mileiq)** Series A · US **$12M** With 3 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **13 named**

AE **Ajay E. Chopra** Management Member of General Partner to Issuer i Filing they signed

AO **Augustus O. Tai** Management Member of General Partner to Issuer i Filing they signed

DO **Daniel O. Scholnick** Management Member of General Partner to Issuer i Filing they signed

FO **Fred O. Wang** Management Member of General Partner to Issuer i Filing they signed

KO **Karan O. Mehandru** Management Member of General Partner to Issuer i Filing they signed

KA **Kathleen A. Murphy** Management Member of General Partner to Issuer i Filing they signed

LK **Lawrence K. Orr** Management Member of General Partner to Issuer i Filing they signed

MR **Mcculloch Ross Lyle** CCO, Svp, Finance i Form ADV

NC **Nina C. Labatt** Management Member of General Partner to Issuer i Filing they signed

NJ **Noel John Fenton** Management Member of General Partner to Issuer i Filing they signed

PE **Patricia Eileen Nakache** Management Member of General Partner to Issuer i Filing they signed

RV **Ramakrishna Venkata Satyavolu** Management Member of General Partner to Issuer i Filing they signed

TP **Timothy P. McAdam** Management Member of General Partner to Issuer i Filing they signed

We also hold **19** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$1.2B** assets it manages Oct 2026

**Registered** investment adviser full reporting to the SEC

- **Legal name:** TVL Management Corporation
- **SEC number:** CRD 159537

Funds on its Form ADV

**9** private funds, **$1.3B** in gross assets · filed Oct 2024

- Trinity Ventures XI, L.P. *Venture* 42 investors $606M
- Trinity Ventures XII, L.P. *Venture* 39 investors $566M
- Trinity Ventures X, L.P. *Venture* 43 investors $86M
- Trinity XI Entrepreneurs' Fund, L.P. *Venture* 34 investors $9.5M
- Trinity XII Entrepreneurs' Fund, L.P. *Venture* 44 investors $7.8M
- Trinity XI SIDE-BY-SIDE Fund, L.P. *Venture* 8 investors $4.7M
- Trinity XII SIDE-BY-SIDE Fund, L.P. *Venture* 10 investors $4.3M
- Trinity X Entrepreneurs' Fund, L.P. *Venture* 26 investors $980K
- Trinity X SIDE-BY-SIDE Fund, L.P. *Venture* 7 investors $520K

## What they claim to have backed

From their own portfolio page (on their website)

**0** of 1 we have independently watched raise

Firefox

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## Exits from the portfolio

Companies it backed that were later bought or listed **65 in all**

**[Citus Data](https://millionrounds.com/company/citus-data)** Bought by [Microsoft](https://millionrounds.com/fund/microsoft) **Undisclosed** Jan 2019

**[harvest.ai](https://millionrounds.com/company/harvest-ai)** Bought by [Amazon](https://millionrounds.com/fund/amazon) **$20M** Jan 2017

**[TubeMogul](https://millionrounds.com/company/tubemogul)** Bought by [Adobe](https://millionrounds.com/fund/adobe) **$540M** Nov 2016

**[Clearleap](https://millionrounds.com/company/clearleap)** Bought by [Ibm](https://millionrounds.com/fund/ibm) **Undisclosed** Dec 2015

**[zulily](https://millionrounds.com/company/zulily)** Bought by Liberty Interactive Corporation **$2.4B** Aug 2015

**[Compose](https://millionrounds.com/company/compose)** Bought by [IBM (International Business Machines)](https://millionrounds.com/fund/ibm-international-business-machines) **Undisclosed** Jul 2015

**[dotloop](https://millionrounds.com/company/dotloop)** Bought by Zillow **$108M** Jul 2015

**[BlueStripe](https://millionrounds.com/company/bluestripe)** Bought by [Microsoft](https://millionrounds.com/fund/microsoft) **Undisclosed** Jun 2015

**[Lasso Media](https://millionrounds.com/company/lasso-media)** Bought by Photobucket **Undisclosed** Mar 2015

**[FitStar](https://millionrounds.com/company/fitstar)** Bought by [Fitbit](https://millionrounds.com/fund/fitbit) **$18M** Mar 2015

**[Aruba Networks](https://millionrounds.com/company/aruba-networks)** Bought by [Hewlett-Packard](https://millionrounds.com/fund/hewlett-packard) **$2.7B** Mar 2015

**[Armor5](https://millionrounds.com/company/armor5)** Bought by Digital Guardian **Undisclosed** Oct 2014

**[Cloudscaling](https://millionrounds.com/company/cloudscaling)** Bought by [EMC](https://millionrounds.com/fund/emc) **Undisclosed** Oct 2014

**[ShopIgniter](https://millionrounds.com/company/shopigniter)** Bought by Mixpo **Undisclosed** Sept 2014

**[Perfect Market](https://millionrounds.com/company/perfect-market)** Bought by [Taboola](https://millionrounds.com/fund/taboola) **Undisclosed** Aug 2014

**[dotCloud](https://millionrounds.com/company/dotcloud)** Bought by cloudControl **Undisclosed** Aug 2014

**[Namo Media](https://millionrounds.com/company/namo-media)** Bought by [Twitter](https://millionrounds.com/fund/twitter) **$50M** Jun 2014

**[PlayFirst](https://millionrounds.com/company/playfirst)** Bought by [Glu Mobile](https://millionrounds.com/fund/glu-mobile) **Undisclosed** May 2014

**[PayScale](https://millionrounds.com/company/payscale)** Bought by [Warburg Pincus](https://millionrounds.com/fund/warburg-pincus) **$100M** Apr 2014

**[Green Throttle Games](https://millionrounds.com/company/green-throttle-games)** Bought by [Google](https://millionrounds.com/fund/google-assistant-investments) **Undisclosed** Mar 2014

The latest 20 here. An exit counts when it came after the firm's first round in the company. From historical deal records.

## Companies it bought

Acquisitions by the firm itself

**[SciQuest](https://millionrounds.com/company/sciquest)** **$25M** Jul 2004

New fund on file

**$285M**

raised in Jan 2025

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A Series B

Median round joined **$15M** the round, not its cheque Alone, median **$3.2M**

Led 4 of 291 rounds **1%**

- **Said size:** Up to $15M
- **Sole investor:** 31 rounds
- **Last cheque:** Oct 2025
- **Exits:** 65 from the portfolio

Rounds by stage said on their site

- Series B said *80*
- Series A said *75*
- Series C *50*
- Venture *30*
- Seed said *27*
- Series D *13*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Matrix Partners](https://millionrounds.com/fund/matrix-partners) 20
- [Mayfield Fund](https://millionrounds.com/fund/mayfield) 16
- [Lightspeed Venture Partners](https://millionrounds.com/fund/lightspeed-venture-partners) 13
- [Rustic Canyon Partners](https://millionrounds.com/fund/rustic-canyon-partners) 12
- [Mohr Davidow Ventures](https://millionrounds.com/fund/mohr-davidow-ventures) 10
- [DCM Ventures](https://millionrounds.com/fund/dcm-ventures) 9

**Pitching Trinity Ventures?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Trinity Ventures. A count of rooms they were both in, not a relationship either has claimed.

[**Matrix Partners** VC firm **20** rounds together](https://millionrounds.com/fund/matrix-partners)[**Mayfield Fund** VC firm **16** rounds together](https://millionrounds.com/fund/mayfield)[**Lightspeed Venture Partners** VC firm **13** rounds together](https://millionrounds.com/fund/lightspeed-venture-partners)[**Rustic Canyon Partners** VC firm **12** rounds together](https://millionrounds.com/fund/rustic-canyon-partners)[**Mohr Davidow Ventures** VC firm **10** rounds together](https://millionrounds.com/fund/mohr-davidow-ventures)[**DCM Ventures** Private equity **9** rounds together](https://millionrounds.com/fund/dcm-ventures)[**InterWest Partners** VC firm **9** rounds together](https://millionrounds.com/fund/interwest-partners)[**Bessemer Venture Partners** VC firm **8** rounds together](https://millionrounds.com/fund/bessemer-venture-partners)[**Crosslink Capital** VC firm **8** rounds together](https://millionrounds.com/fund/crosslink-capital)[**Foundation Capital** VC firm **8** rounds together](https://millionrounds.com/fund/foundation-capital)[**Madrona Venture Group** VC firm **8** rounds together](https://millionrounds.com/fund/madrona)[**Nexus Venture Partners** VC firm **8** rounds together](https://millionrounds.com/fund/nexus-venture-partners)

## Recently backed

The latest companies Trinity Ventures put money into.

[**Code Climate** May 2020](https://millionrounds.com/company/code-climate)[**Cultivate** $8.0M · Nov 2019](https://millionrounds.com/company/cultivate)[**Gatsby** $15M · Sept 2019](https://millionrounds.com/company/gatsby)[**Baton Systems** $12M · Sept 2019](https://millionrounds.com/company/baton-systems)[**Zero** $2.8M · Aug 2019](https://millionrounds.com/company/zero)[**Pipefy** $45M · Jul 2019](https://millionrounds.com/company/pipefy)

## Quick answers about Trinity Ventures

### What does Trinity Ventures invest in?

Trinity Ventures invests most often at Series B and Series A (56% of the rounds on record), in sectors such as Enterprise Infrastructure, Commercial Real Estate and Car Sharing.

### How active is Trinity Ventures?

291 investments on record, 0 of them in the last 12 months, and it led 4. The most recent was in Oct 2025.

### What has Trinity Ventures invested in recently?

Its most recent investments on record: Uluu (Series A, Oct 2025), Code Climate (Series B, May 2020) and Cultivate (Series A, Nov 2019).

### How big are Trinity Ventures's cheques?

The median round it joins is $15M.

### Does Trinity Ventures lead rounds?

Sometimes: it led 4 of its 291 investments on record (1%).

### Where does Trinity Ventures invest?

Most of the companies it backs are in the United States (95%).

### Is Trinity Ventures investing now?

No investments in the last 12 months; the latest was in Oct 2025.

### Who does Trinity Ventures invest alongside?

Most often Matrix Partners (20 rounds together), Mayfield Fund (16 rounds together) and Lightspeed Venture Partners (13 rounds together).

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