True Ventures hits $900m AUM after closing fourth fund


dollars100Venture capital firm True Ventures has closed its fourth fund on $290m, giving it total capital under management of $900m.

The fund was backed by substantially all of the firm’s existing LPs as well as a few new investors. It is much larger than True’s third fund, which raised $205m in 2012.

True currently has 125 portfolio companies and its investees include Automattic which runs the WordPress blogging system, Goodreads and MakerBot, whic have been sold to Amazon and Stratasys, respectively.

Fund IV’s first four investments include security product with a repeat founder from Fund II, CRM software, “ground-truth” weather stations and a smartphone-enabled sensor for home security.

True Ventures founder Jon Callaghan said, “We believe our job as venture capitalists is to invest in the biggest ideas with the potential to have enormous impact on our world.

“These ideas often seem crazy at the time of our investment, like wearable fitness trackers in 2008 and flying robots in 2012.

“Over time, however, we have learned to trust the vision of the creative founders we fund.”

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