Private equity investments up to £100m

What we're looking for: Our Private Equity Investment Thesis

We invest across the retail, consumer and technology ecosystem including B2C, B2B and B2B2C. But investment is only one part of what we do for them. We nurture the businesses that we believe in, giving them everything from access to emerging technologies, to extraordinary collaboration opportunities from across our network to share best practice and create new ideas.

We are investing from our third fund of £275m which we raised in 2021.

We partner with businesses that fit the following profile:

  • Retail, consumer, leisure, and technology businesses
  • B2C, B2B and B2B2C
  • Target equity investment of £10m to £50m with flexibility up to £100m+
  • Majority and influential minority stakes
  • Focus on profitable businesses but open to situations where fundamentally strong businesses are experiencing short-term challenges and may need balance sheet repair or operational improvements.
  • International scope with focus on UK and Western & Northern Europe

Will and I are delighted to have found an investment partner that slots in so naturally to our company. The team at True seemed to get us and the Sneak brand straight away. They place people and culture at the top of the priority list, which was highly important to us and overall, they seem very different, and more human, to how we’d imagined private equity investors to be.

Sneak Co-founder Jonny Teeling

True has been an incredible partner, providing invaluable support through both challenges and opportunities since investing in the Cotswold Company in 2016. They understand that building a brilliant brand takes time. What sets True apart is their extensive network and connections in the consumer and retail industries. This has really helped the business grow with the implementation of new tech & the introduction of new talent. Their reach has opened doors to resources and partnerships, propelling further growth in an ever-changing market.

Ralph Tucker, CEO Cotswold Company

True are highly engaged. They get what we represent — our goals, values and desire to bring fitness into more people’s lives. They genuinely live and breathe our brand in the boardroom and outside. I definitely feel like they dedicate a lot of time to our business success, every day.

Eric Min, Co-founder & CEO Zwift

True Investment stories


Ribble Cycles appoints Sean Hastings as new CEO

Ribble has named Sean Hastings as its new CEO. Hastings, a veteran in consumer sector transformation, brings a wealth of experience from B2C Group, River Island, and Pentland Brands. This strategic move follows the recent appointment of Becks DeNiro as chair. Current CEO Andy Smallwood will transition to a senior adviser role, ensuring a smooth leadership change.

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RIBBLE REBELLION Rides at USA’s Armed Forces Cycling Classic

RIBBLE REBELLION electrified at the US Armed Forces Cycling Classic this past weekend with extraordinary bikes that pay tribute to the 80th Anniversary of D-Day. Cole Davis (USA) was on the striking Ribble Ultra SL R P-51 Mustang Special Edition, and British rider Matthew Bostock was on the Ultra SL R Forces Special Edition. The bikes, inspired by WWII aircraft, were then auctioned to support TAPS, a charity aiding military families.

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