Global platform of innovative talent management products and executive search services firm True is Vera’s anchor investor
The funding of fintech startups got a big boost this week when venture capital firm Vera Equity announced its new fintech focused $20 million fund. In addition to funding pre-seed and seed stage fintech startups, the firm provides access to top talent to their portfolio companies.
The announcement also mentioned the fund had already made investments in 20 innovative fintech startups, highlighting that the vc firm is on the move and able to attract top talent.
Vera Equity’s leadership is comprised of co-founders Michael Vaughan and Jonathan Pomeranz. They have the support of the global management platform and executive services firm True that is led by co-CEO’s and co-founders Joe Riggione and Brad Stadler. The four executives have the experience and the networks that enable them to provide a range of resources so critical for startup success. True is Vera’s anchor investor and Vera co-founder Jon Pomeranz leads True’s Fintech Practice.
“Our team’s backgrounds and networks allow Vera to provide founders with differentiated and highly valuable talent introductions and operational guidance,” said Vaughan. “We identify attractive investment opportunities through our confidence in the team and their product vision, and partner with our founders as they get off the ground, build initial traction and prepare for their next institutional round.”
The four executives have extensive experience in fintech, funding and talent recruitment for startups:
- Mike Vaughan, Founding Vera Equity Partner, is a highly successful fintech operator, investor and advisor. At Venmo, Vaughn as Chief Operating Officer oversaw the platform’s growth to 40M active users and $300M annual revenue run-rate.
- Jonathan Pomeranz, Founding Vera Equity Partner, has been immersed in financial services executive search, providing the difficult and timely service of connecting top fintech companies, founders and investors, as well as identifying and recruiting board and senior management teams.
- Brad Stadler & Joe Riggione, True co-CEOs and co-founders oversee True’s global platform of human capital products and services with offices around the world. True’s high caliber global talent pool and industry expertise enables Vera to assist portfolio companies in expanding their networks and the landing of key leadership hires.
Investments to date include founder Lamine Zarrad, former co-founder of small business fintech Joust, who now heads a consumer credit startup StellarFi, and Jen Glaspie, formerly of Capital One, whose startup Tandym provides private label card programs for online SMBs. Vera helps businesses incubate alongside successful entrepreneurs from companies such as Betterment, Acorns, Vouch Insurance and Roofstock.
Vera gains strength from select LPs through individuals at Foundation Capital, Infinity Ventures, LLR and Flexpoint Ford; founders and operators from companies Plaid, Cadre and Coinbase; and institutions like Tiger Global Management, Bain Capital Ventures, Lightspeed Venture Partners, Fin Capital and Oak HC/FT Partners.
“The key to success in early-stage entrepreneurship is having the right team in place to craft and execute on the vision,” said Stadler. “With our first fund we have been able to leverage True’s existing networks in the global technology, financial services and fintech spaces to prove out a playbook that we hope will be repeatable across other sectors where True has a presence.”
The funding of fintech startups and early-stage companies when complemented with ready access to talent during critical stages of growth well positions Vera Equity to attract top entrepreneurs and innovators in the industry.
