True Equity
True Equity last closed a fund in April 2026 — 7 months ago. By its own rhythm, that is barely into the cycle.
True Equity has raised 3 times about every 32 months. The last was True Equity III L.P. That points to Dec 2028.
Historically about 1 in 8 firms this early in their cycle filed within a year. The month is approximate — how often this is right.
This firm closed a fund in the last 18 months, so it has money to put to work now.
- Funds on file
- 4
- Capital raised
- $51M+
- Latest close
- April 2026
- Based in
- ME
Vehicles on file
| Vehicle | First close | Amount | Filings |
|---|---|---|---|
| True Equity III L.P. | April 2026 | not stated | 0002128926 ↗ |
| True Equity II L.P. | June 2023 | not stated | 0001983398 ↗ |
| True Equity I-B L.P. | December 2020 | $4M | 0001837601 ↗ |
| True Equity I L.P. | December 2020 | $47M | 0001833388 ↗ |
2 of these filed no amount (an “Indefinite” offering), so the total above is a floor.
Dated from filing date; no date of first sale was reported.
Each row links to that vehicle’s Form D filings on EDGAR — the name, date and amount above should match what is filed there.
Named on filings
Hugh O'Donnell
What True Equity invests in
- Typical fund
- $47M median, seed to early stage
- Website
- trueequityinvestments.com
Service providers
- Fund administrator
- Carta (3 funds)
- Auditor
- BDO (3 funds)
From Form ADV filed by TRUE EQUITY MANAGEMENT LLC CRD 313330 ↗, latest filing March 2026, covering 3 funds linked to this firm by Form D file number. Form ADV is filed once a year, so a provider may have changed since. How this is matched.
What this is. Every figure on this page comes from Form D filings with the U.S. Securities and Exchange Commission — public records, reproduced here as filed. Service providers, where shown, come from the adviser’s Form ADV and are dated.
What it is not. Single-deal SPVs, feeder vehicles and GP or employee commitment funds are listed but excluded from fund counts and capital totals: an SPV is one investment, a feeder holds the same capital as its master, and a “Principals” or “Entrepreneurs” fund closes alongside a main fund rather than being raised in its own right. Capital deployed from a family office, a corporate balance sheet or an evergreen structure never arrives as a fund close, so a firm doing that looks quiet here. Amounts are as of the last amendment and go stale. Dates are the date of first sale — a fund's first close, not its final one. Funds filed as “Indefinite” are excluded from totals rather than counted as zero, so a total is a floor.
“No recent fund” is a statement about filings. It is not a statement about whether a firm is solvent, investing, or still in business.