New York, USA-based venture capital firm supporting early-stage companies via its unique access to talent, Vera Equity launched USD 20 million fund. The company announced the launch on May 01, 2023. The global platform of innovative talent management products and executive search services, True is the anchor investor for the company.
Vera LPs also includes individuals at Foundation Capital, Infinity Ventures, LLR and Flexpoint Ford; founders and operators from companies Plaid, Cadre and Coinbase. Meanwhile, institutions such as Tiger Global Management, Bain Capital Ventures, Lightspeed Venture Partners, Fin Capital and Oak HC/FT Partners committed to the fund.
Purpose of fund for Vera Equity
With the recent launch of the fund, the Vera Equity team’s focus is on backing exceptional fintech entrepreneurs at the pre-seed and seed stages. Meanwhile, it intends to provide them with capital alongside unparalleled fintech talent and operations advisory.
Moreover, the strength of True’s talent pool and industry expertise allows Vera to aid portfolio companies in expanding their networks. It further helps them in landing important leadership hires.
What the company’s officials have to say
Michael Vaughan, Partner at Vera Equity, said, “Our team’s backgrounds and networks allow Vera to provide founders with differentiated and highly valuable talent introductions and operational guidance. We identify attractive investment opportunities through our confidence in the team and their product vision. In addition, we partner with our founders as they get off the ground, build initial traction and prepare for their next institutional round.”
Brad Stadler, co-CEO and co-founder of True said, “The key to success in early-stage entrepreneurship is having the right team in place to craft and execute on the vision. With our first fund, we have been able to leverage True’s existing networks in the global technology, financial services and fintech spaces. Our team seeks to prove a playbook that will be repeatable across other sectors where True has a presence.”
About the company
Michael Vaughan, Jonathan Pomeranz, Joe Riggione, and Brad Stadler launched the company in 2021. So far, the company has invested in 20 startups. The portfolio companies include founder Lamine Zarrad (former co-founder of small business fintech Joust), currently simplifying consumer credit building at StellarFi, and Jen Glaspie (former Capital One), who started Tandym to provide private label card programs for online SMBs. Vera also aided in incubating businesses alongside successful entrepreneurs from Betterment, Acorns, Vouch Insurance and Roofstock.
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