# True Ventures: portfolio, investments and team > True Ventures is a vc firm based in United States. 212 investments on record, latest Sept 2025. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/true-ventures (Millionrounds; every figure on the page links to its filing or article) United States · [Investor](https://millionrounds.com/investors) # True Ventures Filed with the SEC to raise a fund in Sep 2026, closing $56M. Last cheque observed Sep 2025. Email Quiet New fund $56M, Sept 2026 VC firm Pre-seed Seed Series A Software Social Good Social Impact Follow True Ventures and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Ftrue-ventures) Cheques on record **0%** of best year **0** **cheques in 12 months**, 212 on record Since the last cheque **425** days **00** hrs **00** min **00** sec Median round **$27M** Rounds led **0 of 212** Sole investor **30 rounds** Exits **43 from the portfolio** Mostly in **United States, 88%** Pitch True Ventures ## True Ventures highlights - 01 212 rounds on record - 02 Mostly Series A and Seed: 67% of its rounds - 03 Sole investor in 30 rounds, median $1.0M - 04 43 exits from the portfolio ## What they do > We write the first check and stay for every chapter after. From their own website - **Type:** VC firm (from a list, unverified) - **Cheque size:** Not stated - **Stages:** Pre-seed Seed Series A Series B Growth Pre-IPO - **Sectors:** Software Social Good Social Impact - **Based in:** Palo Alto, United States - **Cold pitches:** Accepted ## The record Every round we can evidence, newest first **212 appearances** - **2025** 2 rounds - **Sept** **[Signull Labs](https://millionrounds.com/company/signull-labs)** Pre-seed · US · TechCrunch **$3.6M** With 3 others - **May** **[The Nuclear Company](https://millionrounds.com/company/the-nuclear-company)** Series A · US · TechCrunch **$51M** With 5 others - **2013** 40 rounds - **Nov** **[littleBits Electronics](https://millionrounds.com/company/littlebits-electronics)** Series A · US · finsmes.com **$11M** With 11 others - **Nov** **[Kurtosys](https://millionrounds.com/company/kurtosys)** Debt · GB · marketbrief.com **$250K** Sole investor - **Nov** **[Betable](https://millionrounds.com/company/betable)** Series A · GB · finsmes.com **$19M** With 15 others - **Oct** **[Flint](https://millionrounds.com/company/flint)** Series B · US · techcrunch.com **$6.0M** With 3 others - **Oct** **[Applauze](https://millionrounds.com/company/applauze)** Series A · US · finsmes.com **$7.2M** With 7 others - **Oct** **[Splice](https://millionrounds.com/company/splice)** Seed · US · finsmes.com **$2.8M** With 9 others - **Oct** **[Narrative](https://millionrounds.com/company/narrative)** Series A · SE · techcrunch.com **$3.0M** With 2 others - **Oct** **[Madefire](https://millionrounds.com/company/madefire)** Series A · US · techcrunch.com **$5.2M** With 6 others - **Sept** **[Academia.edu](https://millionrounds.com/company/academia-edu)** Series B · US · techcrunch.com **$11M** With 2 others - **Sept** **[Stitch Labs](https://millionrounds.com/company/stitch-labs)** Series A · US · techcrunch.com **$3.5M** With 3 others - **Sept** **[3D Robotics](https://millionrounds.com/company/3d-robotics)** Series B · US · techcrunch.com **$30M** With 5 others - **Sept** **[OpenROV](https://millionrounds.com/company/openrov)** Seed · US · allthingsd.com **$1.3M** With 1 other - **Sept** **[Evident.io](https://millionrounds.com/company/evident-io)** Seed · US · sec.gov **$1.5M** Sole investor - **Aug** **[Fitbit](https://millionrounds.com/company/fitbit)** Series D · US · techcrunch.com **$43M** With 5 others - **Jul** **[Kurtosys](https://millionrounds.com/company/kurtosys)** Debt · GB **$1.0M** Sole investor - **Jul** **[Kissmetrics](https://millionrounds.com/company/kissmetrics)** Series B · US · venturebeat.com **$7.0M** With 6 others - **Jul** **[Apcera](https://millionrounds.com/company/apcera)** Series A · US **$5.0M** With 2 others - **Jun** **[Quarterly](https://millionrounds.com/company/quarterly)** Series A · US · pevc.dowjones.com **$2.2M** With 5 others - **Jun** **[Stryking Entertainment](https://millionrounds.com/company/stryking-entertainment)** Seed · DE · finsmes.com **Undisclosed** Sole investor - **Jun** **[Inventables](https://millionrounds.com/company/inventables)** Series B · US · techcrunch.com **$3.0M** With 5 others - **Jun** **[Namely](https://millionrounds.com/company/namely)** Series A · US · news.namely.com **$3.4M** With 4 others - **May** **[Runscope](https://millionrounds.com/company/runscope)** Seed · US · techcrunch.com **$1.1M** With 6 others - **May** **[Orchestrate](https://millionrounds.com/company/orchestrate)** Seed · US · techcrunch.com **$3.0M** With 2 others - **May** **[MessageMe](https://millionrounds.com/company/messageme)** Series A · US · techcrunch.com **$10M** With 8 others - **Apr** **[Madison Reed, Inc.](https://millionrounds.com/company/madison-reed-inc)** Series A · US · businesswire.com **$4.0M** With 2 others - **Apr** **[Glider](https://millionrounds.com/company/glider)** Seed · US · techcrunch.com **$1.0M** With 3 others - **Apr** **[Neon Labs](https://millionrounds.com/company/neon-labs)** Seed · US · cmu.edu **$625K** With 3 others - **Apr** **[Schematic Labs](https://millionrounds.com/company/schematic-labs)** Venture · US **$925K** With 1 other - **Apr** **[Madefire](https://millionrounds.com/company/madefire)** Venture · US **$3.5M** With 4 others - **Apr** **[PayNearMe](https://millionrounds.com/company/paynearme)** Venture · US **$2.1M** With 1 other - **Apr** **[Space Pencil](https://millionrounds.com/company/space-pencil)** Venture · US **$200K** Sole investor - **Apr** **[High Fidelity](https://millionrounds.com/company/high-fidelity)** Venture · US **$1.6M** Sole investor - **Mar** **[Concurrent Inc](https://millionrounds.com/company/concurrent-inc)** Series A · US · concurrentinc.com **$4.0M** With 2 others - **Mar** **[MessageMe](https://millionrounds.com/company/messageme)** Seed · US · techcrunch.com **$1.9M** With 9 others - **Mar** **[TastemakerX](https://millionrounds.com/company/tastemakerx)** Series B · US · techcrunch.com **$1.3M** With 4 others - **Feb** **[PayNearMe](https://millionrounds.com/company/paynearme)** Series D · US · sec.gov **$12M** With 3 others - **Feb** **[Urban Airship](https://millionrounds.com/company/urban-airship)** Series D · US · techcrunch.com **$25M** With 4 others - **Feb** **[about.me](https://millionrounds.com/company/about-me)** Series A · US · pevc.dowjones.com **$5.7M** 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 **6 named** JG **James Gordon Stewart** COO i Form ADV JC **Jon Callaghan** Managing Member of the General Partner i Filing they signed JD **Jonathan David Callaghan** Managing Member of the General Partner i Filing they signed PD **Philip Douglas Black** Managing Member of the General Partner i Filing they signed PA **Puneet Agarwal** Managing Member of the General Partner i Filing they signed UK **Ulrike Kellmereit** CFO i Form ADV We also hold **31** 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 **$3.9B** gross assets of its funds Oct 2026 **Exempt** reporting adviser venture or small private funds - **Legal name:** TRUE Venture Management, L.L.C. - **SEC number:** CRD 162586 ## What they claim to have backed From their own portfolio page (on their website) **45** of 60 we have independently watched raise [Airweave](https://millionrounds.com/company/airweave)[Art Blocks](https://millionrounds.com/company/art-blocks)[Audos](https://millionrounds.com/company/audos)[Bandcamp Direct-to-fan tools](https://millionrounds.com/company/bandcamp)[Basecamp Research](https://millionrounds.com/company/basecamp-research)[Blue Bottle Coffee](https://millionrounds.com/company/blue-bottle-coffee)[Contactile](https://millionrounds.com/company/contactile)[Core Think](https://millionrounds.com/company/corethink)[Ditto](https://millionrounds.com/company/ditto)[Duo Security Two-factor](https://millionrounds.com/company/duo-security)[Ernesta](https://millionrounds.com/company/ernesta)[Fairing](https://millionrounds.com/company/fairing)[Fauna Bio](https://millionrounds.com/company/fauna-bio)[Fitbit](https://millionrounds.com/company/fitbit)[Goodreads The social](https://millionrounds.com/company/goodreads)[Graze Social](https://millionrounds.com/company/graze)[Gridware](https://millionrounds.com/company/gridware)[HashiCorp Multi-cloud infrastructure](https://millionrounds.com/company/hashicorp)[Hi Marley](https://millionrounds.com/company/hi-marley)[Howie](https://millionrounds.com/company/howie)[ICEYE](https://millionrounds.com/company/iceye)[Item](https://millionrounds.com/company/item)[Juma](https://millionrounds.com/company/juma)[Madison Reed](https://millionrounds.com/company/madison-reed)[Makerbot](https://millionrounds.com/company/makerbot)[Moderne](https://millionrounds.com/company/moderne)[Nectar Social](https://millionrounds.com/company/nectar-social)[Nexar](https://millionrounds.com/company/nexar)[Nixtla](https://millionrounds.com/company/nixtla)[Patina](https://millionrounds.com/company/patina)[Peloton Connected fitness](https://millionrounds.com/company/peloton)[Polsia](https://millionrounds.com/company/polsia)[Riley](https://millionrounds.com/company/riley)[Roark](https://millionrounds.com/company/roark)[Solo](https://millionrounds.com/company/solo-io)[Splice](https://millionrounds.com/company/splice)[Sweetgreen Fast-casual restaurants](https://millionrounds.com/company/sweetgreen)[Tenkara](https://millionrounds.com/company/tenkara)[The Nuclear Company](https://millionrounds.com/company/the-nuclear-company)[Town](https://millionrounds.com/company/town)[Triplelift](https://millionrounds.com/company/triplelift)[Understory](https://millionrounds.com/company/understory)[Vectorize](https://millionrounds.com/company/vectorize)[Veza Technology for](https://millionrounds.com/company/veza)[Workgrounds](https://millionrounds.com/company/workgrounds) Aristotle Atticus Bear Flag Robotics ChatSee Daydream Develocity Digg Enveda Feather Computers Feather Feroot Flux Gather Handshake Hatch Hitch and 18 more 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 **43 in all** **[Fitbit](https://millionrounds.com/company/fitbit)** Bought by [Google](https://millionrounds.com/fund/google-assistant-investments) **Undisclosed** Jan 2021 **[Spree Commerce](https://millionrounds.com/company/spree-commerce)** Bought by [First Data Corporation](https://millionrounds.com/fund/first-data) **Undisclosed** Sept 2015 **[Syncplicity](https://millionrounds.com/company/syncplicity)** Bought by [Skyview Capital](https://millionrounds.com/fund/skyview-capital) **Undisclosed** Jul 2015 **[Piston Cloud Computing, Inc.](https://millionrounds.com/company/piston-cloud-computing-inc)** Bought by [Cisco](https://millionrounds.com/fund/cisco) **Undisclosed** Jun 2015 **[Orchestrate](https://millionrounds.com/company/orchestrate)** Bought by CenturyLink **Undisclosed** Apr 2015 **[Always Prepped](https://millionrounds.com/company/always-prepped)** Bought by [Alma](https://millionrounds.com/fund/a-l-m-a) **Undisclosed** Feb 2015 **[Smarterer](https://millionrounds.com/company/smarterer)** Bought by [Pluralsight](https://millionrounds.com/fund/pluralsight) **$75M** Nov 2014 **[BrightRoll](https://millionrounds.com/company/brightroll)** Bought by [Yahoo!](https://millionrounds.com/fund/yahoo) **$640M** Nov 2014 **[MessageMe](https://millionrounds.com/company/messageme)** Bought by [Yahoo!](https://millionrounds.com/fund/yahoo) **$30M** Oct 2014 **[Schematic Labs](https://millionrounds.com/company/schematic-labs)** Bought by Rhapsody **Undisclosed** Aug 2014 **[Sifteo](https://millionrounds.com/company/sifteo)** Bought by 3D Robotics **Undisclosed** Jul 2014 **[TastemakerX](https://millionrounds.com/company/tastemakerx)** Bought by Rdio **Undisclosed** Jul 2014 **[Glider](https://millionrounds.com/company/glider)** Bought by FPX **Undisclosed** Apr 2014 **[LoopFuse](https://millionrounds.com/company/loopfuse)** Bought by Salesfusion **Undisclosed** Jan 2014 **[Singly](https://millionrounds.com/company/singly)** Bought by Appcelerator **Undisclosed** Aug 2013 **[Lexity](https://millionrounds.com/company/lexity)** Bought by [Yahoo!](https://millionrounds.com/fund/yahoo) **Undisclosed** Jul 2013 **[MakerBot](https://millionrounds.com/company/makerbot)** Bought by Stratasys **$403M** Jun 2013 **[Tinkercad](https://millionrounds.com/company/tinkercad)** Bought by [Autodesk](https://millionrounds.com/fund/autodesk) **Undisclosed** May 2013 **[Goodreads](https://millionrounds.com/company/goodreads)** Bought by [Amazon](https://millionrounds.com/fund/amazon) **$150M** Mar 2013 **[gdgt](https://millionrounds.com/company/gdgt)** Bought by [AOL](https://millionrounds.com/fund/aol) **Undisclosed** Feb 2013 The latest 20 here. An exit counts when it came after the firm's first round in the company. From historical deal records. New fund on file **$56M** raised in Sept 2026 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Pre-seed Seed Series A Median round joined **$27M** the round, not its cheque Alone, median **$1.0M** Led 0 of 212 rounds **0%** - **Sole investor:** 30 rounds - **Last cheque:** Sept 2025 - **Exits:** 43 from the portfolio Rounds by stage said on their site - Series A said *74* - Seed said *62* - Series B said *33* - Venture *22* - Series C *8* - Series D *5* - Pre-seed said *-* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [SV Angel](https://millionrounds.com/fund/sv-angel) 17 - [Foundry Group](https://millionrounds.com/fund/foundry) 15 - [Softtech VC](https://millionrounds.com/fund/softtech-vc) 12 - [Aol Ventures](https://millionrounds.com/fund/aol-ventures) 10 - [First Round Capital](https://millionrounds.com/fund/first-round-capital) 10 - [Felicis](https://millionrounds.com/fund/felicis-ventures) 9 **Pitching True Ventures?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as True Ventures. A count of rooms they were both in, not a relationship either has claimed. [**SV Angel** VC firm **17** rounds together](https://millionrounds.com/fund/sv-angel)[**Foundry Group** VC firm **15** rounds together](https://millionrounds.com/fund/foundry)[**Softtech VC** VC firm **12** rounds together](https://millionrounds.com/fund/softtech-vc)[**Aol Ventures** Corporate VC **10** rounds together](https://millionrounds.com/fund/aol-ventures)[**First Round Capital** VC firm **10** rounds together](https://millionrounds.com/fund/first-round-capital)[**Felicis** VC firm **9** rounds together](https://millionrounds.com/fund/felicis-ventures)[**Google Ventures** Corporate VC **9** rounds together](https://millionrounds.com/fund/gv)[**Spark Capital** VC firm **9** rounds together](https://millionrounds.com/fund/spark-capital)[**Lerer Ventures** VC firm **8** rounds together](https://millionrounds.com/fund/lerer-ventures)[**Founder Collective** VC firm **7** rounds together](https://millionrounds.com/fund/founder-collective)[**Khosla Ventures** VC firm **7** rounds together](https://millionrounds.com/fund/khosla-ventures)[**Kleiner Perkins Caufield & Byers** VC firm **7** rounds together](https://millionrounds.com/fund/kleiner-perkins-caufield-and-byers) ## Books by the people here 2 books written by people at True Ventures: [Dave Balter](https://millionrounds.com/person/dave-balter) and [Om Malik](https://millionrounds.com/person/om-malik). - Grapevine: The New Art of Word-of-Mouth Marketing [Dave Balter](https://millionrounds.com/person/dave-balter) · 2005 3.69 from 48 ratings on Goodreads About the book Word of mouth is an amazingly powerful force, but how does it really work?. Businesses have become obsessed with stimulating word-of- mouth to counteract the declining effectiveness of advertising. But it’s easier said than done. As the founder of BzzAgent, a community of more… On AmazonListen on Audible - Broadbandits: Inside the $750 Billion Telecom Heist [Om Malik](https://millionrounds.com/person/om-malik) · 2003 3.69 from 48 ratings on Goodreads About the book Investigating the financial fraud and misguided power plays that brought down the telecom industry Once the foundation of the Dow and NASDAQ, the telecom industry has eaten up more capital than any other industry in recent history and has nothing to show for it. Today, it is by… On AmazonListen on Audible More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list). As an Amazon Associate we earn from qualifying purchases. ## Quick answers about True Ventures ### What does True Ventures invest in? True Ventures invests most often at Series A and Seed (67% of the rounds on record), in sectors such as Software, Social Good and Social Impact. ### How active is True Ventures? 212 investments on record, 0 of them in the last 12 months. The most recent was in Sept 2025. ### What has True Ventures invested in recently? Its most recent investments on record: Signull Labs (Pre-seed, Sept 2025) and The Nuclear Company (Series A, May 2025). ### How big are True Ventures's cheques? The median round it joins is $27M. ### Does True Ventures lead rounds? Rarely, if at all: none of its 212 investments on record names it as the lead. ### Where does True Ventures invest? Most of the companies it backs are in the United States (88%) and the United Kingdom (8%). ### Is True Ventures investing now? No investments in the last 12 months; the latest was in Sept 2025. ### Who does True Ventures invest alongside? Most often SV Angel (17 rounds together), Foundry Group (15 rounds together) and Softtech VC (12 rounds together). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=true-ventures) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=true-ventures)