🦊/Investors

True.

Venture capital

London · Pre-Seed–Growth · 31 people tracked

Also known as TRUE CAPITAL LTD

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2,837 people in our graph share verified history with the True. team — schools, employers, funds. One of them is your warm intro.

Kyle Dohertyunlockedknows Liam Buswell · together at Morgan Stanley (overlapped)
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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 Sep 15, 2026.

Stage
Pre-Seed–Growth
Check
$190M
HQ
London, GB
Instruments
Equity
Founded
2013
Last 12 months
3 investments
Private fund assets
$621.7M
Tracked investments
75
Acquisitions
5

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 36 of 75 portfolio companies

Consumer ×13Direct to Consumer ×10E-commerce ×9AI & Machine Learning ×8SaaS ×8Retail Tech ×7Circular Economy ×5HR Tech ×4

HQs:United Kingdom×9United States×7United Arab Emirates×1Canada×1France×1

Who they back

founder profiles across 24 portfolio companies
75%
solo founders
18 of 24 mapped founding teams
46%
repeat founders
of 24 founders with career history

Founding team size:solo founder×182 founders×6

Where their founders studiedfrom 20 founders with education data

Imperial College London ×2Royal College of Art ×2The University of Manchester ×2

What their founders studiedfrom 20 founders with field-of-study data

Business & Management ×4Computer Science ×4Engineering ×4Mathematics & Statistics ×3Finance & Accounting ×2

Where their founders worked beforefrom 24 founders with career history

The University of Manchester ×2

1 founders hold a PhD · 1 hold an MBA (of 22 with degree data)

Investments · 75 tracked

founders shown can be your intro path

By year:2026 · 12025 · 42024 · 12022 · 12021 · 32020 · 12019 · 22018 · 12017 · 115 dated

ADAYthisisaday.com

Technical, seasonless, sustainable wardrobe staples

Co-investorsCowboy VenturesElizabeth Street VenturesH&M CO:LABSoGal VenturesVenrex

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

Ofir Zilberberg(Founder)in

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)in

Co-investorsCircadian Ventures

Bedfolkbedfolk.cominJun 2021

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.

Samantha Campbell(Founder)in

Co-investorsPoint King CapitalTalis 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

Co-investorsAscension VenturesImperial College London

Boy Smellsboysmells.comin𝕏

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

Matthew Herman(Founder)in

Buywithbuywith.com

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

New York City, US

Eyal Sinai(Founder)in

Co-investorsFab Co-Creation Studio VenturesigniteXL VentureAndav Capital

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

Eshita Kabra(Founder)in

Co-investorsCornerstone VCRedrice VenturesSie VenturesCherry VenturesClosed Loop Partners

City pantryjust-eat.co.ukin

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

Co-investors83NorthOctopus VenturesQVentures

Eyvaeyva.aiin

Eyva is an AI platform for product intelligence in the beauty and personal care industry.

AI & Machine LearningMarketing TechSaaS

Co-investorsEarlybird Venture CapitalRobin CapitalVenista Ventures

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 CapitalPassion CapitalProject A VenturesSpeedinvestTriple Point Ventures

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)

Futureswapfutureswap.cominOct 2021 · $12M

An affiliate-based editorial review platform that evaluates crypto casinos, token-based bonuses, and blockchain payment methods for US-based online gambling players.

Crypto & Web3Media & Entertainment

Co-investorsBollinger Investment GroupFramework VenturesPlaceholderPlaceholder VCRibbit Capital

German Doner Kebabgdk.comMay 2025

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

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

Duncan Mann(Founder)in

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 CapitalConviction VCPassion CapitalPlayfair Capital

Inde Wildindewild.comMar 2025 · $5M

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 VenturesUnilever Ventures

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.cominJul 2021 · $5.8M

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

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 TechSaaSDubai, AE

Mustafa Khanwala(Founder & CEO)inTanvi Bhardwaj(Co-founder)in

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.ioin𝕏Oct 2024 · $2.1M

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)in

Co-investorsRebellion VenturesAQC CapitalHighline BetaMaRSMaRS Investment Accelerator Fund

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)Larry Dunivan(CEO (appointed July 2019))in

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.

Nick Brackenbury(Founder)in

Co-investorsMoscar Capital

Pinpointgetpinpoint.ioOct 2025 · $2.5M

Pinpoint provides a workforce of AI agents that respond to comments, DMs, mentions, and other signals across a brand's organic, paid, and influencer social media content in the brand's voice.

AI & Machine LearningMarketing TechSaaS

Co-investorsEdge Case Capital PartnersPhoenix Capital VenturesAntlerJAZZ Venture PartnersMarkdNavigate Ventures+1 more

Pinpointgetpinpoint.cominOct 2025 · $2.5M

Pinpoint is an AI tool for product teams that turns customer discovery interviews into transcripts, sentiment and theme analysis, journey maps, and shareable insight reports.

AI & Machine LearningFuture of WorkSaaS

Co-investorsJenson VenturesAntlerJAZZ Venture PartnersMarkdNavigate VenturesPhoenix Capital Ventures+1 more

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)inMiroslav Bazitov(CTO)

Co-investorsBlackfinch VenturesPraetura Ventures

Ray studiosray-studios.com𝕏Feb 2022 · $3M

Ray Studios operates medical clinics in Europe dedicated to laser tattoo and permanent-makeup (eyebrow) removal, using its proprietary RsAP® method and picosecond Picoway® lasers with treatment carried out by doctors.

HealthtechWellness & Fitness

David Rodriguez(Founder)in

Co-investorsKima VenturesAirAngelsGaingels

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

Matt Hanrahan(Founder)in

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.cominPre-Seed · Sep 2019

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)inEdward Jones(Director)

BoardFelix Mounier(Director)

Co-investorsEnvestorsFounder CollectiveSie Ventures

Spirablespirable.comin𝕏

Spirable is a sport-focused media activation platform that helps advertisers connect with sports fans through targeted advertising and broadcast solutions.

AdTechMarketing TechMedia & EntertainmentSports Tech

Ger O'Meara(Founder)in

Co-investors24 HaymarketFrontline VenturesSmedvig Capital

Unmindunmind.comin𝕏Pre-Seed · Mar 2017 · $370K

Unmind provides a mental health care platform for organizations, combining therapy, coaching, manager training, and learning tools to support employee wellbeing and prevent mental health crises.

Enterprise SoftwareHR TechMental HealthSaaS

Steve Peralta(Co-founder)inNick Taylor(Founder)in

Co-investorsAnthemis VentureEntropy Industrial CapitalFELIX CAPITALProject A VenturesSapphire Ventures

VITLvitl.com𝕏

Vitl creates personalized nutritional supplements using smart technology and scientific research, tailored to individual customer needs.

Direct to ConsumerHealthtechWellness & Fitness

Jonathan Ralph(Founder and CEO)

Co-investorsChannel 4 VenturesRedbus VenturesSamos Investments

Zwiftzwift.comSep 2020 · $450M

Zwift is an indoor cycling and training app that connects to smart trainers and dedicated smart bikes, letting cyclists ride, train, and compete virtually with others.

GamingHardwareSports Tech

Eric Min(Founder)in

Co-investorsCauseway PartnersHighland EuropeHiro CapitalPale Fire CapitalAmazon Alexa FundNovator+2 more

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

10ABLAlexandAlexaApparel Brands GroupApparel Brands LimitedBrandLab360BrawnCiaoCOATFableFabricFluusHaeckelsHoxtonHushIndē WildJENAJittyMirthyonFabricPeanutPlastic PackagingRepresentRibbleRotareadySavaShuffleSneakSoulfreshThe Cotswold CompanyThirdeyeUniversifyUrban LegendWarpaint

Exits · 5

5 acquisitions · showing 4

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

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has True. made?
True. has 75 tracked investments, 5 of which have exited, including 6 dated in the last 24 months.
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 63 tracked co-investors.
What size deals does True. back?
Across 7 deals with disclosed amounts, True. has joined rounds of $370K – $450M (median $3M).

Images

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