True Ventures was founded in 2005 by Jon Callaghan and Phil Black, both veterans of Summit Partners, built around a deliberate philosophy of maximizing risk at the earliest stages - backing founders before their markets or categories even exist. That approach defined the firm's investment in Fitbit, made when the device looked like little more than a pedometer in a world with no wearables market, and carried through to early bets on Peloton, Ring, and HashiCorp. True has since backed more than 500 companies across seed and Series A stages, with a hands-on approach centered on its annual Founder Camp.
Fitbit's 2015 IPO - True Ventures was among Fitbit's first institutional investors, backing the company when it looked like little more than a pedometer in a world with no wearables market yet