The phone is dead. Long live . . . what exactly?
True Ventures co-founder Jon Callaghan doesn’t think we’ll be using smartphones the way we do now in five years — and maybe not at all in 10. For a venture capitalist whose firm has had some big winners over its two decades – from consumer brands like Fitbit, Ring, and Peloton, to enterprise software makers HashiCorp and Duo Security – that’s more than armchair theorizing; it’s a thesis on which True Ventures is actively betting. True hasn’t gotten this far by following the crowd. The Bay Area firm has largely operated under the radar despite managing roughly $6 billion across 12 core seed funds and four “select,” opportunity-style funds that it has used to pour more capital into portfolio companies that are gaining momentum. While other VCs have grown more…
