About True Wind
True Wind is a venture capital firm founded in 2015. It is primarily based out of San Francisco, United States. As of Jan 2026, True Wind is an active investor, having invested in 25 companies, with 1 new investment in the last 12 months. It primarily invests in Conventional Debt round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Consumer and FinTech. Most recently it participated in the $***** Seed round of Theuki Overall, True Wind portfolio has seen 7 IPOs and 10 acquisitions including key companies like Airbnb, Rover and Zscaler. TA Associates co-invest with True Wind, sharing a substantial percentage of its portfolio. True Wind has team of 23 people including 6 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Conventional Debt & 2 more
Portfolio Acquisitions
Portfolio Soonicorns
Deals in last 12 months
True Wind's List of Top Investments
True Wind has a portfolio of 25 companies. Their most notable investmentis in SterlingTheir portfolio spans across United States, Canada, Greece and 2 more locations. They have invested in Enterprise Applications, Consumer, FinTech and 16 other sectors, across stages such as Seed, Conventional Debt and 2 more. Here is the list of top investments by True Wind:1. Airbnb
Provider of accommodations, experiences, and related services through an online platform. The platform facilitates connections between hosts and individuals seeking lodging and activities. It offers a variety of options for stays and curated experiences. The platform also provides resources for individuals interested in becoming hosts.
Key facts about Airbnb
- Founded Year: 2008
- Location: San Francisco (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $3.07B
- Employee Count: 72,846 as on Sep 30, 2026
- Investors: Silver Lake, 2020 Ventures and 167 Others
- Latest Funding Round: Series E, Apr 06, 2020, $*****
- Highlight: Public
2. Rover
App-based pet sitting marketplace. The platform connects dog owners with dog sitters who look after pets at owners own homes. It allows users to find other pet-care service providers and book using the platform by making an online payment. Its service offerings include dog boarding, house sitting, dog walking, pet grooming, and more. The app is available for iOS and Android devices.
Key facts about Rover
- Founded Year: 2011
- Location: Olympia (United States)
- Annual Revenue: $100M - $500M as on Dec 31, 2022
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $409M
- Employee Count: 11,896 as on Sep 30, 2026
- Investors: K2 Global, Cross Creek and 33 Others
- Latest Funding Round: Venture Debt, May 24, 2018, $*****
- Highlight: Acquired
3. Zscaler
Provider of cloud-based security solutions for enterprise zero trust architecture. It offers a platform designed to secure user, workload, and device communication across various environments. The platform focuses on stopping cyberattacks, preventing data loss, and enabling secure AI adoption. It provides tools for cyberthreat protection, data security, and digital experience optimization.
Key facts about Zscaler
- Founded Year: 2007
- Location: San Jose (United States)
- Stage: Public
- Total Funding till date: $148M
- Employee Count: 9,616 as on Sep 30, 2026
- Investors: HTIF, Sprout Capital Partners and 18 Others
- Latest Funding Round: Post IPO, Jun 23, 2020, $*****
- Highlight: Public
4. Snapchat
Provider of multimedia messaging application. It offers users to send ephemeral messages to others. It provides solutions to capture photos and videos from their devices, edit with multiple filters, and share photos and video clip messages with friends. It offers features such as short videos, live video chatting, messaging, creating Bitmoji avatars, and sharing photos and videos through stories. It also provides a memories feature that allows users to store the snaps and stories in a private storage area. The application is available for both Android and iOS users.
Key facts about Snapchat
- Founded Year: 2011
- Location: Los Angeles (United States)
- Stage: Public
- Total Funding till date: $2.62B
- Employee Count: 3 as on Jul 31, 2026
- Investors: Meritech, ADS Ventures and 62 Others
- Latest Funding Round: Post IPO, Aug 07, 2018, $*****
- Highlight: Public
5. FanDuel
Developer of a fantasy platform for multiple sports. It provides users to play fantasy sports games for NFL, MLB, NBA, soccer, and golf. It also enables users to select the contests they wish to play, and players to participate in the competition.
Key facts about FanDuel
- Founded Year: 2009
- Location: New York City (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $416M
- Employee Count: 4,115 as on Sep 30, 2026
- Investors: Western Technology Investment, CapitalG and 42 Others
- Latest Funding Round: Series E, Sep 15, 2016, $*****
- Highlight: Acquired
True Wind's Year-on-Year Investment Trends
True Wind has invested in 26 companies over the last 7 years, with an average of 1 new investment annually in the last 5 years. In 2025, it made 1 investment, while as of Jan 2026, it has made 1 investment in this year. Its most recent first time investment was in Theuki.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 1 | 0 | 1 |
2024 | 0 | 0 | 0 |
2023 | 0 | 0 | 0 |
2022 | 2 | 0 | 2 |
2021 | 1 | 0 | 1 |
2020 | 1 | 0 | 1 |
2019 | 1 | 0 | 1 |
True Wind's Investments by Stage
True Wind has made 4 investments in Seed stage, 1 investment in Conventional Debt stage, 1 investment in PE stage and 1 investment in Post IPO stage with an average round size of $100M.Stage of entry | No. of Investments |
|---|---|
Seed | 4 |
Conventional Debt | 1 |
PE | 1 |
Post IPO | 1 |
Note: We have considered here, only first round of investments
True Wind's Investments by Sector
True Wind has a diverse portfolio, with companies operating in the Enterprise Applications, Vertical SaaS, Consumer, Education and Energy Tech. Notably, it has invested in 18 Enterprise (B2B) companies, 18 Tech companies, 12 Software companies and at least 10 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 5 |
Vertical SaaS | 2 |
Consumer | 1 |
Education | 1 |
Energy Tech | 1 |
Others | 5 |
Note: We have considered here, only first round of investments
True Wind's Investments by Geography
True Wind has made most investments in United States (4), followed by Canada where it has made 1 investment.Country | No. of Investments |
|---|---|
United States | 4 |
Canada | 1 |
Greece | 1 |
India | 1 |
Note: We have considered here, only first round of investments
True Wind's recent investments
True Wind has made 1 investments in 2026 so far - Theuki.Here are the most recent investments by True Wind:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jan 21, 2026 | - | Seed | 4311 | - | |
Jun 12, 2025 | Greece | Seed | 6745 | - | |
Feb 22, 2022 | Canada | Seed | 1610 | - | |
Jan 13, 2022 | United States | PE | 4090 | - | |
Nov 17, 2021 | United States | Seed | 4736 |
IPOs and Publicly Listed companies in True Wind's Portfolio
7 of True Wind's portfolio companies have become public. Zscaler got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Mar 2018 at marketcap of $1.88B and Snapchat got listed on the New York Stock Exchange (NYSE) at marketcap of $54.4M.Here are True Wind's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Mar 16, 2018 | - | - | 3277 | |
Mar 03, 2017 | - | - | 5774 | |
Jun 23, 2016 | - | - | 8772 | |
Apr 02, 2015 | - | - | 1186 | |
Aug 06, 2010 | - | - | 4732 |
Acquired companies in True Wind's Portfolio
10 companies from True Wind's portfolio have been acquired. The most recent acquisition was Open Lending.Here are True Wind's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 16, 2026 | - | - | 9054 | |
Oct 06, 2025 | Feb 22, 2022 | Seed | 5482 | |
Dec 02, 2024 | - | - | 4932 | |
Nov 29, 2023 | - | - | 5785 | |
Dec 22, 2022 | - | - | 9480 |
Team profile of True Wind
True Wind has a team of 23 members including 6 Partners and 7 Principals located in United States. True Wind's team does not sit on the board of any company as of now.Here is a list of top team members in True Wind:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | San Francisco | - | ||
Partner | San Francisco | - | ||
Partner | San Francisco | - | - | |
Partner | San Francisco | - | ||
Partner | San Francisco | - | ||
Partner | San Francisco | - | ||
Principal | San Francisco | - | ||
Principal | San Francisco | - | ||
Principal | San Francisco | - | ||
Principal | Colorado Springs | - | - | |
Principal | United States | - |
Co-investors of True Wind
Over the past 7 years, 3 investors have co-invested in True Wind's portfolio companies. This includes funds and angels.
- Invested before True Wind: M33 Growth has invested before True Wind.
- Top Co-investors of True Wind: TA Associates entered a company along with True Wind.
- Invested after True Wind: Welsh, Carson, Anderson & Stowe (1 company) is the only investor which has invested in True Wind's portfolio after their investments.
Recent News related to True Wind
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Masttro Partners With Truewind to Move Wealth Data Into Family Office Accounting StackGlobal Fintech Series•Sep 09, 2026•Masttro, True Wind, Truewind
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True Wind Capital Announces Growth Investment in the Ultimate Knowledge InstituteBusiness Wire•Jan 21, 2026•Theuki, True Wind
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WCAS Announces Strategic Growth Investment in AIA Contract DocumentsPR Newswire•Jul 08, 2025•Welsh, Carson, Anderson & Stowe, AIA Contract Documents, AIA, True Wind
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Procureship Secures Growth Investment from True Wind Capital for Global ExpansionHellenicShippingNews•Jun 12, 2025•ProcureShip, True Wind
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Aldaron Partners and True Wind Capital’s Acquisition of DCM ServicesGlobal Legal Chronicle•Mar 26, 2025•Orrick, Aldaron Partners, True Wind, DCM Services
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Aldaron Partners and True Wind Capital Complete Acquisition of DCM ServicesBusiness Wire•Mar 17, 2025•ALDARON ESSENCES LLC, True Wind
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U.S. investment firm launches unsolicited bid for Japan’s Sun Corp.Shareandstocks•Jun 11, 2024•True Wind, Sun Electronics, Suncorp
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True Wind Capital Announces Sam Austin and Patrick Roeschel Promoted to Vice PresidentTullahoma News•Jan 05, 2023•True Wind
