Trust Fund

Sophia Amoruso is the Founder and Managing Partner and the sole named investment decision-maker. The firm's website and public filings list no other investment partners. Amoruso's track record includes bootstrapping Nasty Gal to over $100M in revenue and personally angel-investing in more than 20 companies before forming the fund.

No. The firm's website states explicitly that Trust Fund does not lead rounds and does not take board seats. It writes $150K–$300K checks as a participant in pre-seed and seed financings.

Trust Fund uses an audience of over one million social followers — built through Amoruso's book, podcast, and Business Class community of 3,500 founders — to surface deal flow and then to provide portfolio companies with a built-in distribution channel. This audience includes entrepreneurs, freelancers, and small business owners, which aligns with the firm's focus on tools that help people start and build businesses.

The firm describes its portfolio as consumer-angle B2B: tech-enabled products that help people start and run businesses, approached with a consumer brand sensibility. Holdings include enterprise tools like Browse AI, Plot, and Baton, but also consumer brands like Liquid Death and Eight Sleep, reflecting Amoruso's older angel portfolio rather than the strictest reading of the fund's stated thesis.

Trust Fund operates as an early-stage venture fund with external backers. Its website names Marc Andreessen, Chris Dixon, David Sacks, Jason Calacanis, and others as investors. This is not a single-family office.

Amoruso founded Nasty Gal in 2006 and bootstrapped it to a $28M profitable run rate before raising $60M from Index Ventures and Thrive Capital in 2012, scaling the business to over $100M in revenue. She later founded Girlboss, acquired by Attention Capital in 2019, and Business Class, a membership community for entrepreneurs. Her book, #GIRLBOSS, spent 18 weeks on the New York Times bestseller list.

Trust Fund operates as a named venture firm with a formal portfolio, institutional and high-net-worth backers, and a concentrated thesis around B2B products for the self-employed economy. Its check size is consistent with angel activity, but its structure and distribution capability — leveraging a million-plus social following for portfolio company growth — places it closer to a micro-VC with an embedded media arm.