Independent rating of True Ventures VC fund
Overall rating:
3.0
(20)
About True Ventures VC fund
Website:
Founded:
2005
Number of funds:
11
Number of investments:
590
Number of exits:
100
Headquarters:
Organization type:
Venture Capital
How True Ventures VC fund invests
Rounds:
Average ticket size:
9.12M USD
Smallest investment:
857K USD
Biggest investment:
38.6M USD
Would lead round:
Yes
Would coinvest:
Yes
Countries where invested:
Sectors of interest:
Information Technology, Software, Internet, Blockchain, SaaS, Robotics, Open Source, Navigation, Medical, Marketplace, Machine Learning, Insurance, InsurTech, Information Services, Human Resources, GPS, Freelance, Food and Beverage, Financial Services, Finance, FinTech, Enterprise Software, Drones, Digital Media, Developer Tools, Developer APIs, Cryptocurrency, Computer Vision, Computer, Cloud Computing, Biotechnology, Autonomous Vehicles, Asset Management, Art, Apps, Analytics, AgTech
Founders' reviews of True Ventures VC fund
Older than a year by non-portfolio founder
Round: Series A
Left us on Read
Incredible fund, but in classic US VC style, they ghosted us instead of saying no.
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Older than a year by non-portfolio founder
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Fantastic VC John Burke is Tier 1
We had a couple of meeting with True over a period of a couple of years and one partner meeting where they may have been close to investing in our first round though obviously I cant be sure. What I can say is that every single person was extremely friendly, thoughtful, prepared and respectful during the pitch I gave (which was not great) and during the review period afterward. Even though they didn't wind up investing, John Burke wound up referring me to several eventual customers that netted hundreds of thousands of dollars in revenue for us. I can't recommend them highly enough and they'll be my first stop whenever I start my next company.
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Older than a year by non-portfolio founder
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Wasted My Time
As an entrepreneur, rejection is a part of the game. A simple "no" is fine, and feedback on why there is a "no" is respected. That is not what happened here. After some runaround, I was referred to meet with an employee straight out of college. This is what PG would refer to as a "dickish move" which would only lead to wasting time. If that was truly respected entrepreneurs, they would give a clear answer instead of playing games. Therefore I give you a heads up so that you can avoid wasting your time.
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Older than a year by non-portfolio founder
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Entrepreneur Friendly and Approachable
Build strong relationships with entrepreneurs and are in it for the long-haul
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Older than a year by non-portfolio founder
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Great Guys
I had good conversations with Puneet before even deciding what my new company was going to do. I haven't gotten a term sheet from True, but haven't really pushed the issue yet. After two meetings and a follow-up call, we agreed I'd come back around when my MVP is a little closer to rolling out.
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Older than a year by non-portfolio founder
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Get Their Attention on Twitter
I was able to get their attention via Twitter. I tweeted to @adaugelli
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Older than a year by non-portfolio founder
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Jon Callaghan is a Straight Shooter, Understands Entrepreneurs
Jon was really straightforward with us and let us know that we would be better going the more traditional Sand Hill Rd. route for the amount of money we were trying to raise and the place we're at in the product lifecycle (product built, started getting customers 3 months ago). He also offered some other great advice in the meeting. He did go silent after the meeting, offering to make an introduction that I eventually got from someone else. But my sense was he'd make a good board member because he would let you know what he thought. Sorry we didn't get to work with him.
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Older than a year by non-portfolio founder
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Fair, Fast, and Supportive
We did a Series A with True, and it was a great experience. Deal closed quickly, paperwork and terms were extremely fair (as they promised they would be). I don't think it could have gone any better.
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Older than a year by non-portfolio founder
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Jon Callagan Could Sell Ice to an Eskimo
Jon Callagan has an almost unnerving level of charisma and charm. Not fake charisma either. He's a genuinely down to earth, likeable guy. And smart too!
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Older than a year by non-portfolio founder
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Smart, Early Stage Guys
We were sourced through one of their associates and met with Jon Callaghan and then with Phil Black, and Tony Conrad. I should have known that when I walked in that these two guys playing pool in the SF office that it would be John and Tony. Both were able to fully understand the investment opportunity and they seemed to be truly entrepreneur friendly with their approach. All three are also cool because they go to things like the TED talks and aren't just in it for the numbers and cents, you can detect a sense of vision. It's a good thing.
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Older than a year by non-portfolio founder
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Good Pitch Experience
We met with John Burke and found him to be personable, professional and bright. They passed for reasons we didn't totally agree with, but we would recommend keeping them on your list.
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Older than a year by non-portfolio founder
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Brothers in Arms
quite simply: we would not be where we are today without true ventures.
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Quick Ding, Very Focused
Had a strong intro, they gave a fast, friendly ding. They are totally focused on very early stage and just glad they didn't waste a second of our time for a useless pitch. Would be glad to pitch them for the next one.
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Older than a year by non-portfolio founder
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Pitched Tony
Tony Conrad is a great guy, too bad he turned us down. We are in a space he was not familiar with. He liked the product and concept but couldn't get behind us.
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Older than a year by non-portfolio founder
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Great Team, Hard Working
These guys will work hard for you. Work on the terms, though. Have another term sheet from another group as a backup!
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Strong Team
Having met with more than my share of VC firms over the last 10 years, this is by far one of the strongest teams. They "Get it" and believe that the entrepreneur is their customer. They promote customer satisfaction and mean it. They are smart, forthright, to the point and they follow through. They make decisions quickly and defy many of the traditional VC practices. They have broken the mold and are a pleasure to deal with.
After the deal they are continually helpful. They let experienced management teams manage and offer constructive help when asked.
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Older than a year by non-portfolio founder
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True Ventures Has Been Awesome
True was the lead investor in our Series A earlier in the year. My friend (and a CEO of one of their other portfolio companies) told me that he couldn't be happier with True and they were a dream to work with and added value to his business. He was spot on.
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Older than a year by non-portfolio founder
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This Firm 'Gets It'
Quite often, you hear talk of the new era in venture and startups. Actually, when you network enough, you hear quite a few cliches or soundbites. When you get to the table with the more established firms, though, you find that much hasn't changed. The reality is that the game has changed in many visible ways (capital needs, distribution, hiring, etc.). Most firms have not adjusted. They blame the environment or 'inexperienced angels' for the lost deal. They still have the same expectations for a deal, and will steer you down the same paths. This is really the only 'way of the world' that they know.
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Older than a year by non-portfolio founder
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Early Stage Done Right! What the Valley Has Been Waiting for
True's model is just what the Valley has been waiting for. If you're looking to get started by partnering with a bunch of experienced guys who understand that you don't necessarily want to take a bazillion dollars in your A-round, True is the way to go. When we were trolling around for our A, we had lots of firms competing to give us $$$ but the reality is that the more "established" VCs really just wanted to give us way more money than what we needed to get off the ground and get running. Yes, it's always prudent to take in somewhat more than you think you'll need, since you invariably will underestimate what it takes to do it right, but at the same time, there's also a limit to what you should raise in the A if you believe in what you're doing and also don't want to overly dilute yourself from the get-go.
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Older than a year by non-portfolio founder
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Best Firm for Entrepreneurs
The TRUE Ventures team is most pro-entrepreneur venture firm that I am aware of. There business model is based on investing in companies early, often seeding the creation of new firms, and they prefer investment structures that align their interests with the entrepreneur from the beginning.