Former retail analyst Matt Truman has launched a new investment fund set to plough £100m into retail and consumer businesses.
True Capital has been set up with the intention to invest in businesses in niche sectors within retail likely to include online retailers, luxury brands and retail technology suppliers.
Truman has a high profile in the City through his work at Lehman Brothers and JP Morgan, where he was broker to several large retailers and suppliers including Tesco.
Today marks the formal launch of a fund which has existed since 2008 when Truman invested in luxury childrenswear etailer alexandralexa.com in which it sold its stake in 2011.
True Capital will target equity investments of up to £15m in both private and public companies.
Truman will be backed by operating partners Paul Cocker, John Hoffman and Chris Spira, who together have investment, advisory and retail experience respectively.
Truman said: “Our strategy for differentiation has the over-riding theme of trying to build a firm that reflects where we believe the fund management industry will be in ten years, not where it is today.
“Our aim is to focus on the sustainability of the firm’s systems and processes and to consistently add value via the underlying services that we provide.”