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board member, lead investor

Former Companies

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Managing Partner

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True Ventures

Jon Callaghan

Jon Callaghan, Managing Partner and Founder of True Ventures, founded True because he saw a gap in the market for experienced VC funding for the earliest stage companies. Having spent the majority of his career with these entrepreneurs, he knows what they need most in an investor: an experienced, valuable, and trustworthy partner. True strives to be this partner for every investment.

Jon’s long history with startups began in 1986 when he founded his first company, Mountain Bike Outfitters, Inc. Over the next several years, he would go on to co-found Chemdex Corporation with David Perry, now NexPrise Corporation (NASDAQ: NXPS), and Greenwich LLC, a streaming music company, which was acquired by iCast. Jon’s direct startup experience means he’s seen the world many times from the entrepreneur’s point of view. This is where he’s most at home, and his vision and insight make him the entrepreneur’s confidant.

At Summit Partners, Jon started his venture career as an associate where he focused on growth stage investments in the software industry. Jon also met and worked closely with True co-founder Phil Black at Summit. Jon then joined AOL’s Greenhouse, the venture capital/incubator for AOL. These were the first days of the internet, and AOL was a fascinating place to see the market start.

With the Internet just beginning, Jon jumped in early, joining CMGi’s @Ventures group initially in 1996. @Ventures was the world’s first internet-only venture firm and, at the time, managed a whopping $25 million fund. The internet grew rapidly, and @Ventures grew along with it. By 2001, Jon was a Managing Partner, and the firm managed over $3 billion. His @Ventures deals include Critical Path (NASDAQ “CPTH”),, Hotlinks, Onelist/eGroups (acquired by Yahoo), Promedix (acquired by Ventro – NASDAQ “VNTR”), and (NASDAQ “ACOM”).

Jon’s venture capital career spans 17 years and includes consistent early stage success. Before founding True, Jon was a Managing Director at Globespan, where he served on the boards of Copan Systems, FilmLoop, Glu Mobile (fka Sorrent), Ingrian Networks, Next Medium Networks, Nominum Corp., Plaxo, Sigma Dynamics, and Vazu.

Recent Milestones


Company Date Round Size Participants
AdKeeper 9/2010Series A$8M10
Keep Holdings 9/2010Series A$8M10
1000 Markets 5/2009Seed$500k3
ChessPark 7/2007Angel$1M3
Gigaom 6/2006Series A$325k2



  1. “Stealth” Advertising Startup AK Networks Raises $8 Million ( [edit]
  2. "Stealth" Advertising Startup AK Networks Raises $8 Million ( [edit]
  3. 1000 Markets makes it official with $500,000 seed round ( [edit]
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Last Edited 2/20/14

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