An Open Letter: TrueStart invests in startups from across the globe

A question which we’re often asked, particularly since Brexit, is whether TrueStart invests in businesses based outside of the UK. Our letter below – to any founder considering us for funding – hopefully explains all!

 

Dear Founder,

I’m often asked whether TrueStart would invest in startups that are based outside of the UK. The simple answer is  yes – in fact we already have. Within our portfolio we have startups based in Europe, Asia, and the US.

As a fund, we are looking to invest in the very best startups serving the retail and consumer industries. To that extent our search is global; wb e believe that the brightest and most tenacious entrepreneurs may be found in any country.

I view our international search with three lenses. Firstly, as a way of connecting us with startups that have great traction in their existing countries and would like to internationalise (starting with the UK). Secondly, identifying and assessing the trends that are taking place in other regions and may spread (i.e. is it a trend worth backing?). And finally, finding startups with incredible founders that are set for success – irrespective of their geography.

If you are selected as a startup we’d like to invest in, we will invite you to participate in TrueStart’s 4-month Collection programme. I view this as an incredible networking and growth opportunity; an opportunity to really focus your business to effectively serve the retail and consumer industries and drive commercial growth.

So, what happens if you’re not based in London? At the core, we want you to build a world class business – regardless of which region you base yourselves in. You won’t be required to be in the office for the full four months of the programme…we’re in the business of building companies not running academies. I would encourage all founders to attend the two-week course of activities and masterclasses that we curate at the point of investment – this is an opportunity to build connections with other founders, the TrueStart team, investors and the industry leaders and mentors that will be around for you. Beyond that, we have found effective methods to provide remote support from our Entrepreneurs-in-Residence and Truestart team. Having said that, I would encourage you to find a rhythm that brings you into our innovation Hub regularly – never under estimate the power of the corridor conversations and unexpected opportunities. Don’t forget, while continuing to grow your business, our support goes well beyond the four-month programme.

If you are a startup (from anywhere in the world) and seeking in valuable network opportunities within the retail and consumer industry, deep expertise in technology, business building or fundraising support, then the team and I would love to talk with you – please do reach out to us (enquiries@truestart.co.uk) or check out our website for more information on our funding models – and to apply. Applications close at midnight on Sunday, 23rd April!

Baz Saidieh

CEO, TrueStart