US-based venture capital firm Trust Ventures raised an initial $35m yesterday for its debut fund from investors including Koch Disruptive Technologies, an investment arm of conglomerate Koch Industries.
Additionally, the public affairs division of the conglomerate’s lobbying arm Koch Companies Public Sector will offer consulting services to Trust Ventures and its portfolio companies.
Trust Ventures Fund I will focus on startups in sectors where legacy public policy is proving a hurdle to innovation, such as transport, energy, financial, insurance and healthcare.
The firm is led by Salen Churi and Brian Tochman. It has not disclosed a final target size for the fund.
Churi said: “Innovative startup companies can transform the lives of consumers, reshape or create entire industries, advance economic opportunities and produce sizable returns for investors.
“However, many of these companies now find their path to market blocked by public policy barriers that, while once well-intentioned, today hinder creative solutions for some of our biggest problems.”