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Braughm Ricke

Partner Rating:

Rated 4.6 / 5.0 by 7

Partner Information:

Title:     VP of Finance

Location:  Palo Alto, US West

Blog:      Braughm Ricke

Firm Rating:

Rated 3.9 / 5.0 by 41

Firm Information:

Company:   True Ventures

Type:      Medium Private VC

URL:       Firm Homepage

PERSONAL SPECIALTY:

FIRM DESCRIPTION: True is a venture firm for early stage entrepreneurs. Founders of high growth companies deserve partners with experience, creativity and strength in the earliest days of company growth. Our team has directly founded over half a dozen startups and has over forty years of successful venture capital experience. We like to put that experience to work for our entrepreneurs.

0
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2
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Wasted My Time

Fund: True Ventures

Posted by ANGT4VCBS on 2013-12-13

PUBLIC:

As an entrepreneur, rejection is a part of the game. A simple "no" is fine, and feedback on why there is a "no" is respected. That is not what happened here. After some runaround, I was referred to meet with an employee straight out of college. This is what PG would refer to as a "dickish move" which would only lead to wasting time. If that was truly respected entrepreneurs, they would give a clear answer instead of playing games. Therefore I give you a heads up so that you can avoid wasting your time.

PRIVATE: Members Only (137 Characters)

4
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0
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Entrepreneur Friendly and Approachable

Fund: True Ventures

Posted by Anonymous on 2011-01-27

PUBLIC:

Build strong relationships with entrepreneurs and are in it for the long-haul

PRIVATE: Members Only (696 Characters)

1
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0
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Great Guys

Fund: True Ventures

Posted by claylo on 2010-11-22

PUBLIC:

I had good conversations with Puneet before even deciding what my new company was going to do. I haven't gotten a term sheet from True, but haven't really pushed the issue yet. After two meetings and a follow-up call, we agreed I'd come back around when my MVP is a little closer to rolling out.

Very approachable, nice guys.

PRIVATE: Members Only (251 Characters)

1
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0
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Get Their Attention on Twitter

Fund: True Ventures

Posted by player on 2010-11-13

PUBLIC:

I was able to get their attention via Twitter. I tweeted to @adaugelli

I do know people that they have in their portfolio and are on their radar so I did name drop in my initial email, but Tweeting was fast and easy and if you don't have anyone to intro you could be a way to do it.

PRIVATE: Members Only

2
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0
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Jon Callaghan is a Straight Shooter, Understands Entrepreneurs

Fund: True Ventures

Posted by GalCEO on 2010-10-07

PUBLIC:

Jon was really straightforward with us and let us know that we would be better going the more traditional Sand Hill Rd. route for the amount of money we were trying to raise and the place we're at in the product lifecycle (product built, started getting customers 3 months ago). He also offered some other great advice in the meeting. He did go silent after the meeting, offering to make an introduction that I eventually got from someone else. But my sense was he'd make a good board member because he would let you know what he thought. Sorry we didn't get to work with him.

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7
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0
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Fair, Fast, and Supportive

Fund: True Ventures

Posted by MaidaVale on 2010-03-28

PUBLIC:

We did a Series A with True, and it was a great experience. Deal closed quickly, paperwork and terms were extremely fair (as they promised they would be). I don't think it could have gone any better.

Since we closed the round, they've been an awesome partner. They've been supportive of us throughout, even when we've hit the occasional bump in the road. They've help to make introductions to key people. And network of True-funded entrepreneurs is terrific.

PRIVATE: Members Only (277 Characters)

1
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Jon Callagan Could Sell Ice to an Eskimo

Fund: True Ventures

Posted by Cowboy on 2010-03-08

PUBLIC:

Jon Callagan has an almost unnerving level of charisma and charm. Not fake charisma either. He's a genuinely down to earth, likeable guy. And smart too!

PRIVATE: Members Only (186 Characters)

5
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1
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Smart, Early Stage Guys

Fund: True Ventures

Posted by Anonymous on 2009-12-22

PUBLIC:

We were sourced through one of their associates and met with Jon Callaghan and then with Phil Black, and Tony Conrad. I should have known that when I walked in that these two guys playing pool in the SF office that it would be John and Tony. Both were able to fully understand the investment opportunity and they seemed to be truly entrepreneur friendly with their approach. All three are also cool because they go to things like the TED talks and aren't just in it for the numbers and cents, you can detect a sense of vision. It's a good thing.

PRIVATE: Members Only (161 Characters)

4
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0
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Good Pitch Experience

Fund: True Ventures

Posted by Anonymous on 2009-03-31

PUBLIC:

We met with John Burke and found him to be personable, professional and bright. They passed for reasons we didn't totally agree with, but we would recommend keeping them on your list.

PRIVATE: Members Only

10
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0
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Brothers in Arms

Fund: True Ventures

Posted by chesspark - stanziq on 2009-03-08

PUBLIC:

quite simply: we would not be where we are today without true ventures.

the true team is focused, direct, committed and creative. if they weren't our bankers we would be trying to recruit them to join our company.

so, for anyone walking around palo alto/sf looking for the real deal, true is it.

PRIVATE: Members Only

3
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0
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Quick Ding, Very Focused

Fund: True Ventures

Posted by Anonymous on 2008-12-16

PUBLIC:

Had a strong intro, they gave a fast, friendly ding. They are totally focused on very early stage and just glad they didn't waste a second of our time for a useless pitch. Would be glad to pitch them for the next one.

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2
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Pitched Tony

Fund: True Ventures

Posted by kickinit on 2008-11-01

PUBLIC:

Tony Conrad is a great guy, too bad he turned us down. We are in a space he was not familiar with. He liked the product and concept but couldn't get behind us.

PRIVATE: Members Only (230 Characters)

2
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0
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Great Team, Hard Working

Fund: True Ventures

Posted by FloridaCEO on 2008-07-21

PUBLIC:

These guys will work hard for you. Work on the terms, though. Have another term sheet from another group as a backup!

PRIVATE: Members Only

7
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1
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Strong Team

Fund: True Ventures

Posted by RLicursi on 2008-05-26

PUBLIC:

Having met with more than my share of VC firms over the last 10 years, this is by far one of the strongest teams. They "Get it" and believe that the entrepreneur is their customer. They promote customer satisfaction and mean it. They are smart, forthright, to the point and they follow through. They make decisions quickly and defy many of the traditional VC practices. They have broken the mold and are a pleasure to deal with.
After the deal they are continually helpful. They let experienced management teams manage and offer constructive help when asked.

PRIVATE: Members Only

6
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1
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True Ventures Has Been Awesome

Fund: True Ventures

Posted by true portfolio co on 2007-12-14

PUBLIC:

True was the lead investor in our Series A earlier in the year. My friend (and a CEO of one of their other portfolio companies) told me that he couldn't be happier with True and they were a dream to work with and added value to his business. He was spot on.

True has been an outstanding partner so far. Tony Conrad is on our board (and also the CEO of Sphere.com) and has added a ton of value and is really an extension of our team. As a CEO himself, he is able to focus on the things that really matter (and not bug us with useless meetings, spreadsheets or presentations that seem all too common in other firms). He has been there to help push our thinking and open doors (big rolodex and he whips it out for us often), but lets us run the business and trusts our instincts. Although interactions with Jon and the other True partners have been less frequent, they have always treated our management team with respect and have made some valuable introductions.

I have nothing but positive things to say, although admittedly we haven't yet faced any rough waters which is always the ultimate test of a partnership. So far, we couldn't be happier to have True in the ring with us.

PRIVATE: Members Only

9
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1
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This Firm 'Gets It'

Fund: True Ventures

Posted by drudru on 2007-07-26

PUBLIC:

Quite often, you hear talk of the new era in venture and startups. Actually, when you network enough, you hear quite a few cliches or soundbites. When you get to the table with the more established firms, though, you find that much hasn't changed. The reality is that the game has changed in many visible ways (capital needs, distribution, hiring, etc.). Most firms have not adjusted. They blame the environment or 'inexperienced angels' for the lost deal. They still have the same expectations for a deal, and will steer you down the same paths. This is really the only 'way of the world' that they know.

When we went out for financing, we knew that our needs were of the 'new era' variety. Not quite angel and not quite venture. Based on my
past experiences and the experiences of those
in my network, I was skeptical of most VC firms and willing to forego that route. Angel funding is an easier option, but there are caveats there as well. It was when we reconnected with Jon and his team that I could see that they understood the new landscape. They thought about the new problems and came up with some new
value propositions that made them stand out from the rest. Both parties hit it off and we did the deal.

Just recently, we had our one year anniversary. I can honestly say that going with True was one of the best decisions we made. They have consistently provided *tangible* support and excellent direction.

PRIVATE: Members Only (635 Characters)

9
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Early Stage Done Right! What the Valley Has Been Waiting for

Fund: True Ventures

Posted by LiquidityEvent on 2007-07-23

PUBLIC:

True's model is just what the Valley has been waiting for. If you're looking to get started by partnering with a bunch of experienced guys who understand that you don't necessarily want to take a bazillion dollars in your A-round, True is the way to go. When we were trolling around for our A, we had lots of firms competing to give us $$$ but the reality is that the more "established" VCs really just wanted to give us way more money than what we needed to get off the ground and get running. Yes, it's always prudent to take in somewhat more than you think you'll need, since you invariably will underestimate what it takes to do it right, but at the same time, there's also a limit to what you should raise in the A if you believe in what you're doing and also don't want to overly dilute yourself from the get-go.

True was also a breath of fresh air in an otherwise very stodgy, ego-driven industry. Since they were a new fund when we were getting to know them, we did a fair amount of reseach before closing our deal. End of the day the diligence we heard has been spot-on with what we've fond over the last year. These guys have great track records for themselves from the various firms they were partners in previously, but they appear to have left the pomp-and-circumstance behind in order to build a model that's focused on more effectively partnering with their entrepreneurs.

For us, we've been equally impressed with True even since closing our A. Jon Callaghan is the partner I've known the longest and who joined our Board, and what I've appreciated with him is that he's got that rare VC ability to be a thoughtful board member and mentor/advisor without falling over the line to be overbearing or in-your-way every day. More broadly, these guys are zealously supportive of their entrepreneurs while also being good Board members too. Seems like they've also got a great rolodex too, especially when it comes time to close your B.

More to come in a future post but suffice to say, in a Valley that's looking increasingly bloated and lemming-like, True's niche is an exceptional standout.

PRIVATE: Members Only

8
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Best Firm for Entrepreneurs

Fund: True Ventures

Posted by tod on 2007-07-21

PUBLIC:

The TRUE Ventures team is most pro-entrepreneur venture firm that I am aware of. There business model is based on investing in companies early, often seeding the creation of new firms, and they prefer investment structures that align their interests with the entrepreneur from the beginning.

Having gone through multiple financing events side by side with their team, I can attest to their continued interest in working with (rather than against) the entrepreneur.

There is no doubt in my mind that their pro-entrepreneur philosophy is part of a grander vision. As a new firm, they believe that the best way to succeed in the venture business is build a pool of successful entrepreneurs that think the world of you -- as most good deals come from those relationships.

Additionally, I have now worked with Jon Callaghan on the board of two startups and he is smart, upfront, trustworthy and a true mentor. There are only a handful of VCs I would recommend to friend without a single comment, and he is at the top of the list.

PRIVATE: Members Only (487 Characters)