Investment adviser · CRD 142962

TRUE CAPITAL MANAGEMENT

TRUE CAPITAL MANAGEMENT LLC

SAN FRANCISCO, CA, United States · Form ADV filed Mar 30, 2023

Regulatory AUM: $1.59B
Client accounts: 431
Employees: 37
Advisory professionals: 14

How this adviser has changed

Annual filings

Regulatory assets under management

Up to five fiscal years, using the latest annual update available at the selected filing date. Asset changes can reflect acquisitions, client flows, and valuations; they are not investment returns.

Annual adviser history and sources
Fiscal year	Regulatory AUM	Employees	Filed
2021	$1,736,052,960	35	Mar 30, 2022
2022	$1,593,766,022	37	Mar 30, 2023

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client type	Clients	Regulatory assets	Share of AUM
High-net-worth individuals	180	$1,043,735,904	65.5%
Pooled investment vehicles	54	$363,726,696	22.8%
Individuals	194	$184,448,160	11.6%
Corporations & businesses	Fewer than 5	$1,855,262	0.1%

Filing source

Form ADV 1724568 · Mar 30, 2023 · Item 5.D

Reported by TRUE CAPITAL MANAGEMENT LLC (CRD 142962).

Annual Updating Amendment for Registered Adviser · fiscal year 2022.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

Private funds & service providers

54 detailed fund records

Largest reported gross asset value first; unreported values last. Gross asset value is fund-level disclosure, distinct from adviser AUM and Form D fundraising. Master and feeder funds may overlap.

TRUE EQUALITY, LLCVenture Capital Fund$8.14MGross asset value

Form D fundraising filings

View filings for the issuer linked by this fund’s reported Form D file numbers.

True Equality, LLC

Fund administrator ARTEX CAPITAL SOLUTIONS HAMILTON, Bermuda Investor statements: No (provided to no investors) Related to adviser: No Other funds reporting this name →

Auditor NAVOLIO & TALLMAN, LLP WALNUT CREEK, California, United States Other funds reporting this name →

Custodian FIRST REPUBLIC BANK SAN FRANCISCO, California, United States Related to adviser: No Other funds reporting this name →

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

NAVOLIO & TALLMAN, LLP
PCAOB 5442

Fund details & source

Fund ID: 805-8587205976
Reported beneficial owners: 12
Minimum commitment: $50K
Form D file number: 021-442191

Form ADV 1724568 · Mar 30, 2023 · Schedule D 7.B.(1)

Reported by TRUE CAPITAL MANAGEMENT LLC (CRD 142962).

Annual Updating Amendment for Registered Adviser · fiscal year 2022.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

TRUE VC, LLC - SERIES 16Venture Capital Fund$7.96MGross asset value

Form D fundraising filings

View filings for the issuer linked by this fund’s reported Form D file numbers.

True VC, LLC - Series 16 - PORTL

Fund administrator ARTEX CAPITAL SOLUTIONS HAMILTON, Bermuda Investor statements: No (provided to no investors) Related to adviser: No Other funds reporting this name →

Auditor NAVOLIO & TALLMAN, LLP WALNUT CREEK, California, United States Other funds reporting this name →

Custodian FIRST REPUBLIC BANK SAN FRANCISCO, California, United States Related to adviser: No Other funds reporting this name →

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

NAVOLIO & TALLMAN, LLP
PCAOB 5442

Fund details & source

Fund ID: 805-5119356873
Reported beneficial owners: 78
Minimum commitment: $25K
Form D file number: 021-412710

Form ADV 1724568 · Mar 30, 2023 · Schedule D 7.B.(1)

Reported by TRUE CAPITAL MANAGEMENT LLC (CRD 142962).

Annual Updating Amendment for Registered Adviser · fiscal year 2022.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

TRUE VC, LLC - SERIES 18Venture Capital Fund$7.59MGross asset value

Form D fundraising filings

View filings for the issuer linked by this fund’s reported Form D file numbers.

True VC, LLC - Series 18

Fund administrator ARTEX CAPITAL SOLUTIONS HAMILTON, Bermuda Investor statements: No (provided to no investors) Related to adviser: No Other funds reporting this name →

Auditor NAVOLIO & TALLMAN, LLP WALNUT CREEK, California, United States Other funds reporting this name →

Custodian FIRST REPUBLIC BANK SAN FRANCISCO, California, United States Related to adviser: No Other funds reporting this name →

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

NAVOLIO & TALLMAN, LLP
PCAOB 5442

Fund details & source

Fund ID: 805-3439189512
Reported beneficial owners: 97
Minimum commitment: $50K
Form D file number: 021-438781

Form ADV 1724568 · Mar 30, 2023 · Schedule D 7.B.(1)

Reported by TRUE CAPITAL MANAGEMENT LLC (CRD 142962).

Annual Updating Amendment for Registered Adviser · fiscal year 2022.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

TRUE VC, LLC - SERIES 14Venture Capital Fund$7.51MGross asset value

Form D fundraising filings

View filings for the issuer linked by this fund’s reported Form D file numbers.

True VC, LLC - Series 14

Fund administrator ARTEX CAPITAL SOLUTIONS HAMILTON, Bermuda Investor statements: No (provided to no investors) Related to adviser: No Other funds reporting this name →

Auditor NAVOLIO & TALLMAN, LLP WALNUT CREEK, California, United States Other funds reporting this name →

Custodian FIRST REPUBLIC BANK SAN FRANCISCO, California, United States Related to adviser: No Other funds reporting this name →

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

NAVOLIO & TALLMAN, LLP
PCAOB 5442

Fund details & source

Fund ID: 805-5316944096
Reported beneficial owners: 64
Minimum commitment: $25K
Form D file number: 021-409047

Form ADV 1724568 · Mar 30, 2023 · Schedule D 7.B.(1)

Reported by TRUE CAPITAL MANAGEMENT LLC (CRD 142962).

Annual Updating Amendment for Registered Adviser · fiscal year 2022.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

TRUE CAPITAL VENTURES, LLC - SERIES VIIIVenture Capital Fund$5.97MGross asset value

Search Form D filings →

Custodian FIRST REPUBLIC BANK SAN FRANCISCO, California, United States Related to adviser: No Other funds reporting this name →

Provider details

Annual audit: No
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

Fund details & source

Fund ID: 805-1911829421
Reported beneficial owners: 47
Minimum commitment: $50K

Form ADV 1724568 · Mar 30, 2023 · Schedule D 7.B.(1)

Reported by TRUE CAPITAL MANAGEMENT LLC (CRD 142962).

Annual Updating Amendment for Registered Adviser · fiscal year 2022.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

TRUE VC, LLC - SERIES 13Venture Capital Fund$5.87MGross asset value

Form D fundraising filings

View filings for the issuer linked by this fund’s reported Form D file numbers.

True VC, LLC - Series 13

Fund administrator ARTEX CAPITAL SOLUTIONS HAMILTON, Bermuda Investor statements: No (provided to no investors) Related to adviser: No Other funds reporting this name →

Auditor NAVOLIO & TALLMAN, LLP WALNUT CREEK, California, United States Other funds reporting this name →

Custodian FIRST REPUBLIC BANK SAN FRANCISCO, California, United States Related to adviser: No Other funds reporting this name →

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

NAVOLIO & TALLMAN, LLP
PCAOB 5442

Fund details & source

Fund ID: 805-6123959582
Reported beneficial owners: 82
Minimum commitment: $25K
Form D file number: 021-422770

Form ADV 1724568 · Mar 30, 2023 · Schedule D 7.B.(1)

Reported by TRUE CAPITAL MANAGEMENT LLC (CRD 142962).

Annual Updating Amendment for Registered Adviser · fiscal year 2022.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

TRUE DC WALDORF PARTNERS, LLCReal Estate Fund$5.46MGross asset value

Form D fundraising filings

View filings for the issuer linked by this fund’s reported Form D file numbers.

TRUE DC Waldorf Partners, LLC

Fund administrator ARTEX CAPITAL SOLUTIONS HAMILTON, Bermuda Investor statements: No (provided to no investors) Related to adviser: No Other funds reporting this name →

Auditor NAVOLIO & TALLMAN, LLP WALNUT CREEK, California, United States Other funds reporting this name →

Custodian FIRST REPUBLIC BANK SAN FRANCISCO, California, United States Related to adviser: No Other funds reporting this name →

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

NAVOLIO & TALLMAN, LLP
PCAOB 5442

Fund details & source

Fund ID: 805-4488243480
Reported beneficial owners: 20
Minimum commitment: $250K
Form D file number: 021-446214

Form ADV 1724568 · Mar 30, 2023 · Schedule D 7.B.(1)

Reported by TRUE CAPITAL MANAGEMENT LLC (CRD 142962).

Annual Updating Amendment for Registered Adviser · fiscal year 2022.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

Services & filing details

Showing values from the selected filing. Latest observed filing does not establish current registration status.

What changed?

Since Nov 10, 2022 · previous imported filing

Regulatory AUM$1,736,052,960 → $1,593,766,022
Client accounts282 → 431

Filing source

Form ADV 1724568 · Mar 30, 2023 · Items 1 & 5

Reported by TRUE CAPITAL MANAGEMENT LLC (CRD 142962).

Annual Updating Amendment for Registered Adviser · fiscal year 2022.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

Management of assets

Discretionary: $1.26B
Non-discretionary: $336M

Reported services

Financial planning · Individual portfolio management · Pooled investment vehicle management · Selection of other advisers · Educational seminars

Compensation

Percentage of assets · Fixed · Performance-based

Principal office

101 MONTGOMERY STREET, SUITE 2800
SAN FRANCISCO, CA, 94104, United States

CRD 142962

Filing source

Form ADV 1724568 · Mar 30, 2023 · Items 1 & 5

Reported by TRUE CAPITAL MANAGEMENT LLC (CRD 142962).

Annual Updating Amendment for Registered Adviser · fiscal year 2022.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.