Fundraising Fox

True.

Venture capital

London · Pre-Seed–Growth · 31 people tracked

Also known as TRUE CAPITAL LTD

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Investment thesis

True positions itself as a partner to consumer-focused companies and brands, aiming for commercial success built responsibly. Beyond capital, the firm emphasizes adding value to founders and businesses across the consumer world, creating collaborations between large incumbents and emerging innovators, and driving knowledge sharing and innovation. It works with companies that shape consumers' lives and open new opportunities globally, describing itself as ambitious with goals that extend beyond profit.

Source: firm website, verified Aug 25, 2026.

Stage
Pre-Seed–Growth
Check
$190M
HQ
London, GB
Instruments
Equity
Founded
2013
Private fund assets
$621.7M
Tracked investments
71

Team · 31 people

from the firm's website & curated
Joe Seager-Dupuy· Director, Investmentin

Investment director at True, noted as smart, thoughtful and forward-thinking.

Kevin Nelis· Principal, Advisory
Kishen Pandya· Director, Investmentin

Investment director known for staying calm under pressure and being a strong team player.

Mike Martin· Director, Investmentin

Investment director at True, described as effective and composed.

Oscar King· Principal, Investmentin

Investment principal who focuses on data and analysis.

Richard Brick· Director, Investmentin

Investment director passionate about consumer brands and the teams that build them.

Camille Temple· Associate, Investmentin

Investment associate supporting the VC team, described as energetic, organised and efficient.

Corin Roberts· Associate, Advisoryin

Advisory associate described as reliable, resilient and supportive.

Dieko Falade· Finance Analystin

Finance analyst at True, described as energetic, meticulous and efficient with numbers.

Jess Paterson· Team EAin
Nathan Luscombe· Head of Compliance & ESG Managerin

Leads compliance and ESG efforts, raising True's ESG standards.

Nicole Ehsani· Senior Executive Assistant

Senior executive assistant, described as sharp-witted and highly analytical.

Noa Myers· Analystin

Analyst at True, dependable and able to thrive in deep technical research.

Owen Eddershaw· Associate, Innovationin

Innovation associate at True.

Richard Mergler· Partnerin

Partner with a long entrepreneurial and investment career, described as an investor in people.

Serena McCutcheon· Head of People and Operationsin

Leads people and operations at True, enabling the team to perform at its best.

Vikesh Mistry· Director, Financein

Finance director at True known for multitasking and supporting colleagues across the team.

Zillah Byng-Thorne· Operating Partnerin

Operating Partner supporting True and its portfolio companies with her experience.

What they invest in

from 30 of 71 portfolio companies

Consumer ×13Direct to Consumer ×10E-commerce ×9Retail Tech ×7AI & Machine Learning ×5Circular Economy ×5SaaS ×5HR Tech ×4

HQs:United Kingdom×9United States×5Canada×1

Who they back

founder profiles across 14 portfolio companies
64%
solo founders
9 of 14 mapped founding teams

Founding team size:solo founder×92 founders×33 founders×2

Investments · 71 tracked

founders shown can be your intro path
10
ABL

Sourcing, design and distribution of branded clothing and accessories.

ADAYthisisaday.com

Technical, seasonless, sustainable wardrobe staples

Co-investorsCowboy VenturesElizabeth Street VenturesSoGal Ventures

AlexandAlexaacquired by Baby Shop

Designer and luxury kidswear platform.

Apparel Brands Group
Apparel Brands Limited
ARpalusarpalus.comin

Arpalus provides computer vision software that enables brands and retailers to capture, measure, and analyze physical shelf data in real-time through a mobile app.

AI & Machine LearningData & InfrastructureRetail Tech

Co-investorsLeadX Capital PartnersNielsen Innovate

Awe Inspiredaweinspired.comin

Awe Inspired designs and sells handcrafted jewelry, including necklaces and pendants themed around goddesses and symbols of strength, marketed to women.

ConsumerDirect to ConsumerE-commerce

Jill Johnson(Founder)

Co-investorsCircadian Ventures

Bedfolkbedfolk.comin

Bedfolk sells bedding made from 100% natural linen and cotton, offered in three styles (linen, relaxed cotton, and luxe cotton) for different types of sleepers.

ConsumerDirect to ConsumerE-commerce

Beelinebeeline.co

Beeline makes compact GPS navigation devices (Moto II and Velo 2) and a companion app offering turn-by-turn directions, speed, and ride tracking for motorcyclists and cyclists.

ConsumerHardwareMobility & Transportation

Mark(Co-founder)Tom Putnam(Founder)in

Co-investorsEarlymarketBain Capital

Bleach Londonbleachlondon.comin

Vegan, cruelty-free DIY hair dye and haircare brand with salons in UK and US.

Co-investorsPoint King Capital

Bonnetjoinbonnet.comin𝕏

Bonnet offers an app for electric vehicle drivers to find, plan routes to, and pay for charging across a network of chargers in Europe.

CleantechEnergyMobility & Transportation

Boy Smellsboysmells.com𝕏

Boy Smells is a queer-owned fragrance house that develops perfumes and scented candles designed to be gender-free and expressive of individual identity.

ConsumerDirect to ConsumerE-commerceNew York, US

BrandLab360

Virtual reality, v-commerce and metaverse shopping experiences.

Brawn

App and tools for the strength/lifting community ('Strava for Strength').

Buywithbuywith.com

Social shopping platform enabling real-time consultation with friends and family.

New York City, US

Eyal Sinai(Founder)

Co-investorsFab Co-Creation Studio VenturesigniteXL Venture

By Rotationbyrotation.com

By Rotation is a fashion rental platform that allows consumers to rent designer clothing and lend or monetize their own wardrobes.

Circular EconomyConsumerMarketplaces

Co-investorsCornerstone VCRedrice VenturesSie Ventures

Ciao

Platform for travellers to sublet properties to one another.

City pantryjust-eat.co.ukin

B2B food delivery marketplace for corporate catering; acquired by Just Eat.

Co-investors83NorthOctopus VenturesQVentures

COAT

Sustainable paint company simplifying paint testing and use.

Eyva
Fable

Premium DTC homeware brand offering sustainable artisan dinnerware.

Fabric
Fertifafertifa.comin

Fertifa provides reproductive healthcare benefits for employees, including fertility treatment, menopause support, women's health, men's health, maternity care, and neurodiversity support delivered by an in-house clinical team.

Digital HealthFemTechHealthtechHR TechLondon, GB

Co-investorsCalm/Storm VCNotion Capital

Fluus

London-based personal hygiene company (previously Planera) making flushable, biodegradable sanitary products.

Frugiwelovefrugi.cominacquired by Refined Brands

Frugi is a children's clothing brand that designs durable, sustainable garments made from organic cotton and recycled materials.

Circular EconomyConsumerDirect to ConsumerE-commerce

Lucy(Founder)Kurt(Founder)Jeni(Co-leader)Kim-Marie(Co-leader)

German Doner Kebabgdk.com

German Doner Kebab is a fast-food restaurant chain serving made-to-order kebabs with lean meats, handmade waffle breads, fresh vegetables, and in-house sauces.

Consumer

Haeckels

Independent coastal-inspired skincare company based in Margate, UK.

Hoxton
HoxtonAIhoxton.aiin

Hoxton.ai provides AI-powered overhead sensors, feedback terminals, and analytics dashboards that count visitors, measure in-store conversion, monitor occupancy, and capture spoken visitor feedback.

AI & Machine LearningHardwareRetail Tech

Co-investorsOxfordOxford Investment Opportunity Network (OION)

Huboohuboo.comin

Huboo provides end-to-end eCommerce fulfillment services including storage, picking, packing, shipping, and returns for online retailers.

E-commerceLogistics & Supply Chain

Co-investorsEpisode1Ada Ventures

Hullabalookhullabalook.comin

Hullabalook provides software for online retailers that personalizes the shopping experience and measures performance.

AI & Machine LearningE-commerceRetail TechSaaSUK, GB

Barny Darby(Founder)in

Co-investorsNauta CapitalPassion CapitalPlayfair Capital

Hush

Digital-first laid-back fashion business.

Inde Wildindewild.com

IndieWild is a direct-to-consumer beauty brand that sells hair care, skincare, and fragrance products including shampoos, conditioners, scalp serums, lip treatments, and perfume mists.

ConsumerDirect to ConsumerWellness & Fitness

Co-investorsSoGal Ventures

Indē Wild

Beauty brand for the South Asian community.

JENA

AI-powered app helping solopreneurs manage websites, bookings and payments.

Jitty

AI-powered UK property search platform using LLMs to summarise listings.

Localisticolocalistico.comin𝕏

Localistico is a local marketing and analytics platform that helps brick-and-mortar businesses get discovered by customers through search engines, maps, and AI assistants, while managing their online presence and reputation at scale.

AI & Machine LearningMarketing TechRetail Tech

Co-investorsFrontline VenturesSeedRocketAscension Ventures

Lovecraftslovecrafts.comin

LoveCrafts is an online marketplace and store for crafting supplies, selling knitting and crochet yarn from brands like Lion Brand, Rowan and Paintbox, along with fabrics, cross stitch kits, embroidery supplies and tools.

ConsumerE-commerceMarketplaces

Co-investorsBalderton CapitalHighland Europe

Maudegetmaude.comin

Maude is a sexual wellness company that designs and sells body-safe intimacy and personal care products, guided by a medical advisory board.

ConsumerDirect to ConsumerWellness & FitnessBrooklyn, US

Éva Goicochea(Founder)inDakota Johnson(Investor & Co-Creative Director)Dina Epstein(Executive Officer, Director)Eva Iliana Yazmin Cantu(Executive Officer, Director)

Co-investorsCoyote VenturesNew Theory VenturesOutbound VenturesPortfoliaTrue Beauty VenturesVU Venture Partners

Mirthyacquired by Rest Less

Online socialising platform for over-55s.

MishiPaymishipay.comin𝕏

MishiPay provides a modular, cloud-native point-of-sale platform with mobile self-checkout, "scan, pay & leave," RFID-based checkout, and flexible payment options for retailers.

FintechRetail TechSaaS

Co-investorsCommerce VenturesGruppo BertoldiNauta CapitalUnited VenturesEuropean Investment Fund

Moonsiftmoonsift.comin

Moonsift offers a shopping assistant that uses AI to analyze products across many online retailers, letting shoppers collect and compare items from different stores in a single place.

ConsumerRetail TechLondon, GB

Alex Reed(CEO)inDavid Wood(CTO)in

Co-investorsDraper AssociatesEntrepreneur First

Mosellemoselle.ioin𝕏

Moselle provides demand planning and inventory management software for direct-to-consumer and consumer brands.

AI & Machine LearningDirect to ConsumerRetail TechSaaSToronto, CA

Lakhveer Singh Jajj(Founder)

Co-investorsMaRS

Namelynamely.comin𝕏Jul 2018Acquired

Namely is a cloud-based HR platform that combines HRIS, payroll, benefits administration, and talent management for mid-market companies.

Enterprise SoftwareHR TechSaaSNew York, US

Matthew Straznitskas(Executive Officer, Director)

BoardAdam D'Augelli(Director)inDavid Skok(Director)in

Co-investorsNotable CapitalScale Venture PartnersSequoia CapitalTrue VenturesBullpen CapitalGolub Growth+6 more

NearStnear.st

Technology driving people back into local high street shops.

onFabric
Peanut

Online community connecting women across fertility, pregnancy, motherhood and menopause.

Pinpoint

AI-native social operating system converting social audiences into customers.

Placed Appplaced-app.comin𝕏

Placed operates a job-matching platform that connects candidates with employers in the service and hospitality industry, aiming to replace traditional recruitment methods like job boards and recruiters.

Future of WorkHR TechMarketplacesLondon, GB

Jennifer Johansson(Founder & CEO)inRoderick McKeown(COO)Miroslav Bazitov(CTO)

Co-investorsBlackfinch VenturesPraetura Ventures

Ray Studios
Represent
Reskinnedreskinned.clothingin

Reskinned operates a circular fashion platform that collects unwanted clothing and either resells it through their platform, repurposes it through partnerships with designers, or recycles it into new materials or products.

Circular EconomyConsumerE-commerce

Ribble

Performance bike and e-bike brand.

Rotareadyacquired by The Access Group

Digital staff scheduling software.

Sava
Serious Pigseriouspig.co.uk

Serious Pig makes a range of natural-ingredient pub snacks, including snacking cheese and gift hampers, sold direct to consumers and via wholesale accounts to retailers.

Direct to ConsumerE-commerceFoodTech

George(Founder)

Shameless Petsshamelesspets.comin

Shameless Pets makes soft, chewy dog treats formulated with real beef and upcycled ingredients like sweet potatoes, free from grain, corn, and soy.

Circular EconomyConsumerDirect to ConsumerFoodTech

Co-investorsBoro CapitalOcampo CapitalR/GA VenturesSpiral Sun VenturesValor Equity Partners

Shellworksshellworks.comin

Shellworks develops VIVOMER, a compostable material made by collaborating with microorganisms that produce natural polymers, designed to perform like plastic but break down without leaving waste.

BiotechCircular EconomyClimate TechNew MaterialsLondon

Insiya Jafferjee(Co-founder)inAmir Afshar(Co-founder)Edward Jones(Director)

BoardFelix Mounier(Director)

Co-investorsEnvestorsFounder CollectiveSie Ventures

Shuffle

Provides expansion capital to hospitality businesses repaid via a consumer rewards platform.

Exits · 4

IPOs and acquisitions across the tracked portfolio

AlexandAlexaacq. by Baby ShopFrugiacq. by Refined BrandsMirthyacq. by Rest LessRotareadyacq. by The Access Group

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has True. made?
True. has 70 tracked investments, 4 of which have exited via acquisition or IPO.
What stage does True. invest at?
True. invests at the Pre-Seed, Seed, Series A, Growth stages.
What is True.'s typical check size?
True. typically writes checks of $190M.
What sectors does True. focus on?
True. focuses on Consumer, E-commerce, Retail Tech.
Where is True. located?
True. is headquartered in London, GB.
Who does True. co-invest with?
True. most often shares deals with Frontline Ventures, Highland Europe, Nauta Capital, among 58 tracked co-investors.

Images

True. photo

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