Our partnership announced that it had raised two new funds. We shared the news with our founders first at our founder camp — held virtually this year. These two new funds, totaling $840 million in fresh capital, are split between the seventh “core” early-stage fund, True Fund VII, at $465 million, and True Select Fund IV at $375 million. 

The partnership made its first official investment was in my company — and since then, we have invested in what others have dismissed — pedometers, connected doorbells, satellites, and exercise bikes. True Ventures started 15 years ago and has now raised 11 funds and has $2.8 billion under management. 

I am glad to be part of a group that has helped create over 25,000 jobs. That’s only a start. While we have come a long way and a long way to go. We have to work hard to bring opportunities to those who have not participated in the technology boom dividends. 

October 14, 2020. San Francisco