True Capital Partners has completed a first close at $5 million for its recently launched seed investment fund. The vehicle has a mandate to invest in retail and consumer sector start-ups from across Europe.
True Capital Partners LLP (“True Capital”), the retail and consumer sector specialist investment group, has successfully completed a first close at $5 million for its recently launched seed investment fund, with a mandate to invest in the best retail and consumer sector start-ups from across Europe. The investment group, which last month launched TrueStart, the only independent retail and consumer sector specialist innovation hub in Europe, comprising of a 4,500 square foot space in London’s Victoria designed to house up to 20 start-up businesses a year, will use the funds to provide seed funding to entrepreneurs awarded residency at TrueStart.
In addition to providing seed capital, TrueStart residents benefit from a six month start-up acceleration programme that includes intensive mentoring from TrueStart’s full time team of entrepreneurs, legal, accounting and recruitment support and, importantly, access to True Capital’s global retail and consumer sector network, a true differentiator for entrepreneurs. The programme is intended to allow residents to build a platform for scalable growth ahead of a Series A funding round, sourced from the True Capital network. Unlike traditional physical incubators or cohort-based acceleration programmes, TrueStart acts as a long-term partner to entrepreneurs and adopts as very hands-on approach throughout the entire business development life cycle.
TrueStart is interested in world-class entrepreneurs and businesses with innovative products, technologies or services that are targeted at disrupting any aspect of the retail and consumer landscape. This could include in-store technology, social commerce, data analytics for retailers, a new brand or consumer product. Applications from potential TrueStart residents are taken via the TrueStart website (www.truestart.co.uk) on a monthly basis.
Matt Truman, CEO and Founder of True Capital and TrueStart, said:
“The retail and consumer sector continues to undergo dramatic change and access to innovation is core to our wider group’s investment strategy. Our vision is for TrueStart to become the focal point for innovation in the sector and closing our first dedicated seed fund is an important step on that journey. I am delighted not only with the speed at which we were able to close the fund, but also by the quality of the investors we have secured, the majority of whom are senior executives drawn from the retail community. TrueStart is about utilising our network to provide sector specific entrepreneurs with access to the big corporates that will help their businesses to rapidly accelerate. We have already received some fantastic applications from potential residents and I am confident that TrueStart will provide a tremendous platform for the industry leaders of tomorrow.”
For further information contact:
True Capital Partners LLP
Matt Truman, CEO & Founding Partner
Paul Cocker, Founding Partner
Tel: +44 (0) 2037 406 940
Richard Mergler, CEO
Tel: +44 (0) 2037 406 945
Notes to the editors:
TrueStart is a central London based investment hub specifically designed to support innovation in the
retail and consumer sectors, bringing together the brightest young minds and startups under one roof
in order to create the products and solutions that will transform the future of these industries.
TrueStart is part of True Capital, a specialist alternative asset manager, focusing solely on the retail
and consumer sector. The business is overseen by True Capital’s senior management team and run
operationally by experienced entrepreneurs who have founded, built and sold businesses over a
period of many years.