United Kingdom · Investor

True.

Last cheque observed Mar 2026; 30 cheques on record.

VC firmDeploying nowLast fund $5.0M, Sept 2024

SeedSeries ASeries BConsumer Packaged GoodsB-to-cRetail Goods

Deploying now
33%of best year2cheques in 12 months, 30 on record
Since the last cheque231days00hrs00min00sec
Median round$20MCheque size, as they say$100K – $3.0MRounds led1 of 30Mostly inUnited States, 83%
Pitch True.

True. highlights

  1. 01

    2 cheques in the last 12 months

  2. 02

    Mostly Series B and Seed: 57% of its rounds

  3. 03

    Led 1 rounds

What they do

We work closely with our community of founders, entrepreneurs, leaders and experts from across the full consumer world, adding value to their businesses. We don’t just invest; we find imaginative ways to enable change.From their own website
Type
VC firm (from a list, unverified)
Cheque size
$100K – $3.0M as they say
Stages
SeedSeries ASeries B
Sectors
Consumer Packaged GoodsB-to-cRetail Goods
Based in
London, United Kingdom
Cold pitches
Not stated

The record

Every round we can evidence, newest first30 appearances

  1. 2026

    1 round

  2. Mar
    BlueskySeries B · US · TechCrunch$100MWith 8 others
  3. 2025

    5 rounds

  4. Dec
    First VoyageSeed · TechCrunch$2.5MWith 2 others
  5. Sept
    ModerneVenture · US$5.0MWith 6 others
  6. Aug
    Vox AISeed · NL · TechStartups$8.7MWith 3 others
  7. Jun
    Nectar SocialSeed · US$11MWith 6 others
  8. May
    SpottSeed · US$3.2MWith 3 others
  9. 2022

    1 round

  10. Sept
    tray.ioSeries C · US$40MWith 4 others
  11. 2021

    2 rounds

  12. Nov
    NexarSeries D · US$53MWith 5 others
  13. Aug
    BaffleSeries B · US$20MWith 4 others
  14. 2019

    4 rounds

  15. May
    CopperSeries C · US · VentureBeat$15MWith 2 others
  16. Apr
    Tray.ioSeries B · US · FinSMEs$37MWith 4 others
  17. Mar
    FunnelAISeed · US · FinSMEs$1.5MWith 2 others
  18. Mar
    ThirdEyeSeries A · GB · True$2.7MLed
  19. 2018

    10 rounds

  20. Nov
    HashiCorpUS · TechCrunch$100MWith 5 others
  21. Aug
    NamelyUS · FinSMEs$60MWith 4 others
  22. Aug
    PelotonSeries F · US · FinSMEs$550MWith 8 others
  23. Jun
    PuppetUS · TechCrunch$42MWith 3 others
  24. Jun
    ParedUS · TechCrunch$10MWith 2 others
  25. May
    IceyeSeries B · FI · FinSMEs$34MWith 8 others
  26. Apr
    DirectlySeries B · US · FinSMEs$20MWith 2 others
  27. Jan
    NexarIL · FinSMEs$30MWith 6 others
  28. Jan
    Pioneer Square LabsSeries B · US · FinSMEs$15MWith 12 others
  29. Jan
    BaffleSeries A · US · FinSMEs$6.0MWith 4 others
  30. 2017

    7 rounds

  31. Nov
    FractylSeries D · US · FinSMEs$44MWith 8 others
  32. Oct
    HashiCorpSeries C · US · FinSMEs$41MWith 2 others
  33. Oct
    SolvvySeries A · US · FinSMEs$12MWith 2 others
  34. Oct
    Madison ReedUS · FinSMEs$25MWith 2 others
  35. Oct
    Duo SecuritySeries D · US · FinSMEs$70MWith 5 others
  36. Aug
    LumitySeries B · US · FinSMEs$19MWith 3 others
  37. Jan
    TyresOnTheDriveGB · FinSMEs$9.8MWith 1 other

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 registration11 named

DRDoug RaetzManaging Director of True Capital Strategic Income Management, LLCiFiling they signed
DRDouglas RaetzChief Executive Officer of the sole member of the ManageriFiling they signed
HGHeather GoodmanManaging Director of True Capital Strategic Income Management, LLCiFiling they signed
KBKarin BlairExecutive Officer of the sole member of the ManageriFiling they signed
MAMatthew Arthur TrumanExecutive OfficeriFiling they signed
PAPaul Andrew CockerExecutive OfficeriFiling they signed
RSRajagopalan SanthanamDesignated Partner of True North (GIFT) Sponsor LLPiFiling they signed
RDRichard David MerglerDirectoriForm ADV
TNTrue North (GIFT) Sponsor LLPPromoteriFiling they signed
TNTrue North Managers LLP represented through its Nominee Paras NayyarDesignated Partner of True North (GIFT) Sponsor LLPiFiling they signed
WJWilliam James PearsonExecutive OfficeriFiling they signed

We also hold 29 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

$622Mgross assets of its fundsOct 2026
5+funds on filenumbered funds in its name
Exemptreporting adviserventure or small private funds
Legal name
TRUE Capital LTD
SEC number
CRD 313542

Who they invest alongside

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

Recently backed

The latest companies True. put money into.

Quick answers about True.

What does True. invest in?

True. invests most often at Series B and Seed (57% of the rounds on record), in sectors such as Consumer Packaged Goods, B-to-c and Retail Goods.

How active is True.?

30 investments on record, 2 of them in the last 12 months, and it led 1. The most recent was in Mar 2026.

What has True. invested in recently?

Its most recent investments on record: Bluesky (Series B, Mar 2026), First Voyage (Seed, Dec 2025) and Moderne (Venture, Sept 2025).

How big are True.'s cheques?

The median round it joins is $20M. It says it writes cheques of $100K to $3.0M.

Does True. lead rounds?

Sometimes: it led 1 of its 30 investments on record (3%).

Where does True. invest?

Most of the companies it backs are in the United States (83%) and the United Kingdom (7%).

Is True. investing now?

Yes: it is actively investing, with 2 investments in the last 12 months.

Who does True. invest alongside?

Most often True Ventures (6 rounds together), GGV Capital (4 rounds together) and Google Ventures (3 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. How we count · Report a correction · Is this your firm? Claim it