True Ventures, a Palo Alto, CA-based early-stage venture capital firm, closed its second Select Fund, at $112m.
True Ventures Select II focuses on supporting the firm’s existing portfolio companies later in their life cycles making later-stage investments in companies funded by one of True’s core funds. The companies have demonstrated product market fit and are generally exhibiting significant traction and product revenues.
The first investment of the fund has been made in fitness tech company Peloton.
Founded in 2005, True Ventures invests in early-stage technology startups. With capital under management in excess of $1.4 billion, the firm provides seed and Series A funding to tech entrepreneurs in today’s fastest growing markets maintaining a founder community and offering innovative educational opportunities to its portfolio.
In May of 2015, True closed its $102m first Select Fund, True Ventures Select I, which invested in a number of portfolio companies such as Peloton, Ring, Namely, Madison Reed and Blue Bottle Coffee.