True Wealth Ventures, an Austin, TX-based seed-stage venture capital firm invests in companies improving human and environmental health with at least one woman on the founding or executive team, closed its second fund, at $35M.
More than 75% of capital raised by True Wealth Ventures across Fund I & Fund II is backed by 80% female LPs. True Wealth’s total AUM is now about $60m. The seed-stage VC firm focuses on maximizing the number of women in its funds to invest in women-led companies.
Led by Founding General Partner Sara Brand and General Partner Kerry Rupp, True Wealth Ventures invests exclusively in women-led, seed-stage companies that improve human and environmental health, with Brand or Rupp assuming board seats. Fund II will invest across the spectrum of software, hardware and consumer packaged goods startups. First checks typically range between $500,000 and $1 million. True Wealth Ventures LPs often co-invest an additional 50% on top of the Fund’s investment, with total rounds most often ranging up to $3.5 to $4 million.
True Wealth already has made three investments from Fund II since its first close in May 2021:
- Aeromutable, a San Diego-based startup that applies aerospace technology to the trucking industry, enhancing vehicle efficiency and safety;
- De Oro Devices, a company headquartered in California, which makes mobility devices to assist people with mobility disorders to walk safely and confidently; and,
- Flourish, a startup headquartered in Austin, Texas, which educates women how to build sustainable habits in nutrition, hydration, sleep, stress, relationships and movement.
The firm intends to invest in 15 companies from Fund II.
True Wealth Ventures Fund I has invested in 12 companies, all of which remain active.
FinSMEs
27/06/2022