TruStage Ventures
Corporate VCMadison · Seed–Late Stage · 26 people tracked
Also known as MEMBERS CAPITAL ADVISORS, INC.
Investment thesis
TruStage Ventures backs the next generation of financial technology, aiming to drive innovation across the credit union and fintech ecosystem. It operates two funds: a general fund pursuing strategic investments and partnerships that connect fintechs with credit unions, and the Discovery Fund, which focuses on early-stage fintech companies led by traditionally underrepresented founders, including BIPOC, LGBTQ+ and women entrepreneurs. Backed by its parent's deep ties to U.S. credit unions, the firm emphasizes partnerships between portfolio companies and credit unions to improve financial wellness and solve industry pain points.
Source: firm website, verified Aug 3, 2026.
Team · 26 people
from the firm's website & public directories
What they invest in
from 27 of 39 portfolio companiesFintech ×22SaaS ×12AI & Machine Learning ×9Enterprise Software ×5Marketplaces ×5Consumer ×3InsurTech ×3PropTech ×3
HQs:United States×23Canada×1
Who they back
founder profiles across 18 portfolio companiesFounding team size:solo founder×92 founders×43 founders×5
Where their founders studiedfrom 11 founders with education data
Stanford University Graduate School of Business ×3
Where their founders worked beforefrom 10 founders with career history
Morgan Stanley ×2
Accelerator rootsportfolio companies that came through a program
Investments · 39 tracked
founders shown can be your intro pathBy year:2026 · 12025 · 32023 · 22021 · 12020 · 12019 · 12018 · 12017 · 111 dated
Ethos provides online life insurance that can be purchased entirely digitally, partnering with established insurance carriers.
InsurTech
Lingke Wang(Co-founder)Peter Colis(Co-founder)inLingke W.(Founder)in
Co-investorsAdit Ventures Management, LlcEvolution VC PartnersFlying Fish VenturesGeneral CatalystGlynn Capital ManagementNimble Partners+7 more
Delafield, US
LOUIS J. MORGAN, II(Executive Officer, Director)MIKE SEIFERT(Executive Officer)BRUCE ROSENHEIMER(Executive Officer, Director)THEODORE R. ROLFS(Executive Officer, Director)RICK REUTER(Executive Officer)
Board seatBrian Kaas· per SEC Form D · $10M raise · filed Mar 2026
Chicago, US
Mark Hodes(President and Secretary of Issuer)Dave Forman(Vice President and Treasurer of Issuer)
BoardNick Hurtgen(Director of Issuer)Michael Mackey(Director of Issuer)Steve Sorrel(Director of Issuer)Edwin Hagerty(Director of Issuer)
Board seatBrian Kaas· per SEC Form D · $750K raise · filed Apr 2020
Madison, US
Paul Braude(Director)Nitin Dahiya(Director)Jonathan Herczeg(Executive Officer)Liz Pugliese(Executive Officer)Laurie Winger(Director)Joe Heck(Executive Officer, Director)
Board seatBrian Kaas· per SEC Form D · $145.6M raise · filed Jan 2024
Seattle, US
Chirag Pancholi(Executive Officer, Director)Lief Larson(Director)
Board seatBrian Kaas· per SEC Form D · $5M raise · filed Jun 2021
Chicago, US
Michael Salichs(Executive Officer, Director)Valentin Saportas(Executive Officer, Director)
Board seatBrian Kaas· per SEC Form D · $1.5M raise · filed Apr 2017
Costa Mesa, US
Ralph Scott Saunders(Executive Officer, Director)Scott Saunders(Executive Officer, Director)Matt Wilson(Executive Officer)Eden Warner(Executive Officer, Director)
BoardJoe Saunders(Director)inSean Park(Director)
Board seatBrian Kaas· per SEC Form D · $62.6M raise · filed Mar 2022
Co-investorsGreen Visor Capital
Arkatechture provides data analytics and data infrastructure services to credit unions and financial services companies, helping them become more data-driven through strategy, consulting, and technical implementation.
AI & Machine LearningData & InfrastructureEnterprise SoftwareFintechSaaSMaine, US
Jamie Jackson(Founder & CEO)
Co-investorsAngel Collective Opportunity FundBattery VenturesFlucas VenturesGeneral CatalystLigature VCNextView Ventures+3 more
Beem is a fintech app offering instant cash advances up to $1,000 with no credit checks or income restrictions, personal loans up to $100,000, and AI-powered financial tools for budgeting, price comparison, and job matching.
AI & Machine LearningFintechSan Francisco, US
Co-investorsAvesta FundCathay InnovationTechstarsCathay CapitalMassiveSouth Park Commons
Caribou offers car loan refinancing services by connecting drivers with lenders and managing the refinancing process, including paperwork and administrative steps.
FintechDenver, US
Co-investorsCurql Collective, LLCHarmonic Growth PartnersInnovius CapitalLink VenturesModerne VenturesMotley Fool Ventures+1 more
Miami, US
Sean Wolfington(Executive Officer, Director)Sebastian Echavarria(Director)Chadwick J. Collier(Executive Officer, Director)Ernest Bachrach(Director)George D. Crowley, Jr.(Director)C. David Boice(Director)
Clerkie is a full-service automation platform powered by machine learning that helps lenders manage, optimize, and recover loan portfolios through AI-driven repayment strategies and multi-currency payment solutions.
AI & Machine LearningFintech
Co-investorsLeft Lane CapitalVestigo VenturesCiti VenturesFlourish Ventures
Clutch is a visual builder platform that enables creation of AI-powered, personalized websites using drag-and-drop agents, component libraries, and integration with existing tools and data.
AI & Machine LearningDeveloper ToolsE-commerceEnterprise SoftwareSaaSSan Francisco, US
Eric Florenzano(Founder)in
Co-investorsMango CapitalY CombinatorAlkeon CapitalAltos VenturesAndreessen HorowitzBMO Capital Partners+4 more
Clutch provides origination solutions for credit unions, enabling member-centric digital experiences across deposits, loans, and business accounts.
Enterprise SoftwareFintechSaaS
Nicky Hinrichsen(Founder & CEO)Christopher Coleman(Founder)in
Co-investorsAlkeon InnovationAndreessen HorowitzCurql Collective, LLCFloating PointNext Level VenturesAlkeon Capital+6 more
Clutch is an online used-car retailer that buys, inspects, reconditions, and sells certified used cars directly to consumers, offering instant cash offers for sellers and financing for buyers.
E-commerceMarketplacesMobility & Transportation
Stephen Seibel(Founder)inDan Parkin
Co-investorsCanaan PartnersPanache VenturesUpper90Alkeon CapitalAltos VenturesAndreessen Horowitz+9 more
Current is a mobile-first banking platform offering no-fee spending accounts and integrated financial services to everyday Americans.
Crypto & Web3Fintech
Stuart Sopp(Founder)in
Co-investorsAAF Management Ltd.Activant CapitalAndreessen HorowitzAvenir Growth CapitalCota CapitalElizabeth Street Ventures+8 more
DataVisor provides an AI-based platform for financial crime prevention, using machine learning, adaptive AI agents, and automation to detect and block fraud and money laundering in real time.
AI & Machine LearningCybersecurityFintechMountain View, US
Fang Yu(Executive Officer, Director, Promoter)inYinglian Xie(Executive Officer, Director, Promoter)in
BoardKevin Fong(Director)Jon Sakoda(Director)inKai Wang(Director)
Co-investorsBrighton Park CapitalNew Enterprise Associates (NEA)Genesis Venture CapitalSequoia CapitalNewView CapitalDecibel Partners+1 more
Co-investorsCurql Collective, LLCInventus Capital PartnersNext Level Ventures
Fair Warranty provides insurance pricing and risk management solutions for the automotive sector.
Enterprise SoftwareInsurTechSaaSSilicon Valley, US
William Betteridge(Founder, CEO)Stephen Bates(Founder, Chief Risk Officer)Will B(Founder)
Co-investorsBlue CollectiveRender CapitalAntlerPlug and Play VenturesRedbud VC
Goalsetter provides a financial literacy and goal-setting platform designed for K-12 schools, colleges, universities, and financial institutions.
AI & Machine LearningEdTechFintechSaaS
Tanya Van Court(Founder & CEO)
Co-investorsAstiaBackstage CapitalEntrepreneurs Roundtable Accelerator (ERA)PortfoliaSeae VenturesThe Players' Impact+2 more
Happy Money is a consumer finance company that provides a fully digital loan origination platform for personal loans, serving both consumers and financial institutions like credit unions, banks, and asset managers seeking to scale their lending programs.
ConsumerFintechSaaS
Co-investorsGreat Oaks Venture CapitalToba CapitalSparkLabs Global Ventures
Matic is a digital insurance marketplace that connects homeowners and auto insurance seekers with 60+ A-rated carriers through an embedded digital experience offered to distribution partners.
B2B MarketplacesFintechInsurTech
Benjamin Madick(Founder)in
Co-investorsBase Venture Management, Inc.Clocktower VenturesManchesterStory Group, LLCMTECH CAPITALCultivation CapitalIA Capital Group+1 more
Maxwell provides software solutions for mortgage lenders, including point-of-sale, loan fulfillment, and due diligence tools designed for small to midsize community lenders.
Enterprise SoftwareFintechPropTechSaaSDenver, US
Evan Einhorn(President & Founder)John Paasonen(Co-founder & CEO)inRutul Dave(Co-Founder / CTO)
Co-investorsCohen CircleCurql Collective, LLCMatchstick VenturesNext Level VenturesPrudenceTechstars+2 more
Momnt operates a financing platform that lets merchants send loan applications and offer pre-qualified, point-of-sale financing to their customers, with a focus on home improvement renovations and repairs.
FintechSaaS
Co-investorsFinTech VenturesYamaha Motor Ventures
Pesto Mastercard offers affordable credit for people with poor or limited credit history, positioning itself as an alternative to high-cost pawn loans.
FintechSan Francisco, US
James Savoldelli(Founder)in
Co-investorsActivant CapitalCommerce VenturesCore Venture CapitalY CombinatorHeadlineNextView Ventures+4 more
Piere is a personal finance management platform that aggregates financial accounts and transactions through integrations with multiple data providers, allowing users to track net worth, budgets, and spending across various financial institutions.
AI & Machine LearningConsumerFintech
Co-investorsGrand VenturesSamvid VenturesFabric VCSelah Ventures
A platform serving home buyers, sellers, renters, investors, and landlords, along with real estate professionals such as agents, teams, brokerages, MLS, title, mortgage, inspection, and home services providers.
HR TechMarketplacesPropTechSaaS
Chris Suarez(Founder)in
Co-investorsCurql Collective, LLCThirdstream PartnersVIEWPOINT VENTURES3L CapitalGoldman Sachs
Posh AI provides an agentic AI platform for financial institutions, offering AI agents that handle customer and employee interactions across voice, website, app, text, and email.
AI & Machine LearningFintechSaaS
Co-investorsCurql Collective, LLCFINTOP CapitalHuman CapitalNext Level Ventures
Pulsate is a digital engagement platform that helps community financial institutions grow account holder product adoption and usage.
Co-investorsCurql Collective, LLCDelta PartnersNext Level Ventures
RenoFi is a fintech platform that enables credit unions to offer home equity loans and HELOCs based on after-renovation property values to homeowners financing renovation and construction projects.
FintechPropTechPhiladelphia, US
Justin Goldman(Co-Founder & CEO)inRobert Shedd(Executive Officer, Director)inLee Miller(Executive Officer, Director)in
BoardSamanttabhiram Das(Director)Brendan Dickinson(Director)in
Co-investorsCanaan PartnersComcast VenturesCurql Collective, LLCNext Level VenturesNycaNyca Partners+1 more
Rippleshot offers a cloud-based (SaaS) platform that uses machine learning and predictive analytics to help financial institutions detect card fraud, identify merchant data breaches, and manage fraud risk proactively.
AI & Machine LearningCybersecurityFintechChicago, US
Canh Tran(Executive Officer, Director, Promoter)Randal Cox(Director, Promoter)Yueyu Fu(Executive Officer, Director, Promoter)
BoardLon Chow(Director)Christopher Capps(Director)
Co-investorsBaleon CapitalIU VenturesMethod CapitalSixThirty Ventures
Fisher Investments is a global money management and financial advisory firm that provides portfolio management, financial planning, and retirement planning services primarily to high-net-worth individuals and institutional clients.
ConsumerFintechMarketplacesSaaSNew York City, US
Michael Carvin(Founder/CEO)in
Co-investorsContour Venture PartnersEvolution VC PartnersFitz Gate VenturesGray VenturesIA Capital GroupJavelin Venture Partners+6 more
Splash Financial operates an online lending marketplace that connects U.S. borrowers with lending partners for student loan refinancing, medical resident/fellow loans, and personal loans.
FintechMarketplacesCleveland, US
Steven Muszynski(Executive Officer, Director)inArnold Pravinata(Executive Officer)inShavaugn Lewis(Executive Officer)inPatrick Leimkuehler(Executive Officer)in
BoardDave Bovenzi(Director)Samanttabhiram Das(Director)
Co-investorsCurql Collective, LLC
Union Credit operates a marketplace that connects consumers with credit unions, presenting them with firm, pre-approved loan offers that can be activated in a few clicks without a traditional loan application.
FintechMarketplacesSaaSSanta Rosa, US
David Buerger(Executive Officer, Director)Barry Kirby(Executive Officer, Director)
BoardMike Kraus(Director)
Co-investorsMSIVWP Global Partners
Zirtue provides bill-pay loans designed to serve millions of people seeking financial assistance.
FintechDallas, US
Co-investors100 Black Angels & Allies FundReinventure CapitalTechstarsSixThirty Ventures
Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.
Exits · 1
IPOs and acquisitions across the tracked portfolioEthosNASDAQ: LIFE
Portfolio news
latest coverage across their companiesPiere · piere.com · Aug 11, 2026
Ethos · ca.investing.com · Jul 18, 2026
Current · fintechfutures.com · Jul 16, 2026
Caribou · thecounty.me · Jul 16, 2026
SmartAsset · job-boards.greenhouse.io · Jul 15, 2026
Beem · briefglance.com · Jun 25, 2026
Matic · coverager.com · Jun 24, 2026
DataVisor · nasdaqprivatemarket.com · Oct 21, 2025
Frequently asked questions
- How many investments has TruStage Ventures made?
- TruStage Ventures has 30 tracked investments, 1 of which have exited via acquisition or IPO, including 1 dated in the last 24 months.
- What stage does TruStage Ventures invest at?
- TruStage Ventures invests at the Seed, Series A, Series B, Series C, Late Stage stages.
- What is TruStage Ventures's typical check size?
- TruStage Ventures typically writes checks of $1M – $5M.
- What sectors does TruStage Ventures focus on?
- TruStage Ventures focuses on Enterprise Software, Fintech, InsurTech, SaaS.
- Where is TruStage Ventures located?
- TruStage Ventures is headquartered in Madison, US.
- Who does TruStage Ventures co-invest with?
- TruStage Ventures most often shares deals with Curql Collective, LLC, Next Level Ventures, Techstars, among 92 tracked co-investors.
Media · Podcasts & interviews
featuring the teamCUC- 2025 TruStage Ventures Fintech Summit: Brian Kaas
The Credit Union Connection · Brian Kaas
Investing in Fintech Innovation: A Conversation with Mike Kraus of TruStage Ventures
The Fintech Combine · Mike Kraus
The Credit Union Connection- Interview w/ TruStage Ventures Managing Director Sam Das
The Credit Union Connection · Sam Das
Images
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