True Ventures

Jon Callaghan and Phil Black co-founded True Ventures in 2005 and are named together as the executive officers on the firm's earliest fund filings. The investment team now runs twelve people and includes Toni Schneider, previously chief executive of Automattic, and Tony Conrad, who built About.me, alongside Puneet Agarwal, Adam D'Augelli, Rohit Sharma, Mike Montano, Soul Dayan, Keerthi Nalabotu, Catherine Reller and Natasha Sharma. Unusually for a seed manager, True also staffs a dedicated Founder Experience group of four and a finance and operations bench of seventeen, a structure that underwrites its pitch of writing the first cheque and staying through every later round. Venture partners are Amy Errett, Ann Crady Weiss, Dave Balter and Helen Min, and the advisor roster adds Om Malik, Kevin Rose, Jeff Veen, Gus Coldebella and Lars Nilsson.

True Ventures has raised at least ten core and select vehicles since 2005 and now reports $4 billion in committed capital across more than 500 portfolio companies and 1,050 backed management teams. SEC filings trace the escalation. True Ventures II-A closed $10.8 million from 24 investors with a first sale in October 2008; True Ventures III-A registered $25 million in August 2011 and IV-A $35 million in March 2014. The flagship line then scaled sharply: True Ventures V registered a $295 million offering in March 2016, Fund VI $325 million in June 2018, Fund VII $415 million in June 2020, and Fund VIII $800 million in June 2022. Alongside them the firm runs a Select series that concentrates follow-on capital into breakout companies, with Select I at $175 million in May 2015, Select III at $325 million in June 2018, and Select V at $100 million filed September 2025 and amended September 2026.