Fundraising Fox

True.

Venture capital

London · Pre-Seed–Growth · 30 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.

Invests inConsumerE-commerceRetail TechGlobalLondonUnited Kingdom

Source: firm website, verified Aug 11, 2026.

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

Team · 30 people

from the firm's website
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.

Alice Price· Analyst, Advisory
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 EA
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 16 of 71 portfolio companies

Consumer ×7Direct to Consumer ×5AI & Machine Learning ×4E-commerce ×4Retail Tech ×4SaaS ×4Wellness & Fitness ×3Circular Economy ×2

HQs:United Kingdom×3United States×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

AlexandAlexaacquired by Baby Shop

Designer and luxury kidswear platform.

Apparel Brands Group
Apparel Brands Limited
ARpalusarpalus.comin

Arpalus offers a smartphone app that uses product recognition to collect and analyze shelf data in physical retail stores in real time.

AI & Machine LearningData & InfrastructureRetail Tech

Awe Inspiredaweinspired.com

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)

Bedfolkbedfolk.com

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(Co-founder)

Bleach Londonbleachlondon.com

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

Bonnet

One-app EV charging solution.

Boy Smells

Gender-inclusive candle and lifestyle product brand.

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.

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

Ciao

Platform for travellers to sublet properties to one another.

City pantryjust-eat.co.uk

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

COAT

Sustainable paint company simplifying paint testing and use.

Eyva
Fable

Premium DTC homeware brand offering sustainable artisan dinnerware.

Fabric
Fertifa

UK reproductive health and fertility benefits provider.

Fluus

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

Frugiacquired by Refined Brands

Sustainable organic children's clothing brand.

German Doner Kebab

Kebab restaurant chain with 170+ global locations, launched in the UK in 2015.

Haeckels

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

Hoxton
HoxtonAIhoxton.aiin

AI-based footfall measurement and demographic tracking.

Huboo

End-to-end fulfilment platform for brands.

Hullabalookhullabalook.comin

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

AI & Machine LearningE-commerceRetail TechSaaSUK, GB

Hush

Digital-first laid-back fashion business.

Inde Wildindewild.com

Inde Wild sells hair care and skincare products that combine Ayurvedic herbs with biotech actives, marketed as "Ayurvedistry" formulas.

ConsumerDirect to ConsumerWellness & Fitness

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

Lovecraftslovecrafts.com

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

Maudegetmaude.com

Maude is a direct-to-consumer intimacy brand offering body-safe products such as vibrators, personal lubricants, condoms, massage candles, and pH-balanced bath and body care.

ConsumerDirect to ConsumerWellness & FitnessBrooklyn, US

Dina Epstein(Executive Officer, Director)Eva Iliana Yazmin Cantu(Executive Officer, Director)Éva Goicochea(Founder, CEO)Dakota Johnson(Co-Creative Director)

Mirthyacquired by Rest Less

Online socialising platform for over-55s.

MishiPaymishipay.comin𝕏

Scan-and-pay technology letting shoppers pay with their smartphones instead of queuing.

Moonsift
Mosellemoselle.ioin𝕏

Moselle is a demand planning platform that uses AI to automate demand forecasting, inventory planning, and replenishment, generating purchase orders and tracking supplier lead times.

AI & Machine LearningRetail TechSaaS

Namelynamely.comin𝕏Jul 2018

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)David Skok(Director)

NearSt

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
Ray Studios
Represent
Reskinned

Platform helping brands and people rehome pre-loved clothing.

Ribble

Performance bike and e-bike brand.

Rotareadyacquired by The Access Group

Digital staff scheduling software.

Sava
Serious Pig

Snacking salami, cheese and charcuterie brand.

Shameless Petsshamelesspets.com
Shellworksshellworks.comin

Shellworks develops VIVOMER, a compostable biomaterial made from agricultural and industrial waste via microbial fermentation, formulated into pellets that work with existing plastic manufacturing equipment (injection moulding, blow moulding, extrusion).

Circular EconomyClimate TechNew MaterialsLondon

Insiya Jafferjee(Executive Officer, Director, Promoter)Amir Afshar(Director)Edward Jones(Director)

BoardFelix Mounier(Director)

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

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.

Images

True. photo

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