# Trust Ventures

Trust Ventures is a Venture Capital based in Austin, United States.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Austin, United States
- **Region:** North America
- **Address:** Austin, TX, United States
- **Founded:** 2018
- **Assets under management:** Undisclosed
- **Website:** www.trustventures.com

## About

Trust Ventures is a VC firm based in Austin, Texas. It invests in startups addressing public policy issues. The firm has made 45 investments, including a Seed VC in Voya Energy on November 12, 2025.

## Sectors

- Energy Transition & Renewables
- PropTech
- AI/ML
- Enterprise Software
- ClimateTech
- Industrial Tech

## People

- Salen Churi — Managing Partner
- Richard Deulofeut — Partner
- Rob Newell — Partner

## Questions

### Who runs investment decisions at Trust Ventures?

Investment decisions are led by Managing Partner Salen Churi alongside Partners Richard Deulofeut and Rob Newell. Deulofeut runs deal review and diligence, while Newell brings a background in technology and telecom investing from PRIMECAP Management. The firm's Venture Partners, including operators like Chris Ballard (ex-Uber) and policy experts like Zina Bash, contribute to sourcing and evaluation but do not appear to hold formal investment committee authority based on the firm's published team structure.

### What sectors does Trust Ventures explicitly target, and what does it avoid?

The firm explicitly targets startups in areas where regulation can entrench incumbents, naming energy, housing, and financial services as core focus areas. Portfolio companies like Oklo (advanced nuclear), ICON (3D-printed construction), and Black Ore (AI-driven tax preparation) reflect this emphasis on structurally inhibited markets. The firm's materials do not identify any sectors it formally excludes.

## Related profiles

- [True North Equity Partners](https://altss.com/profile/true-north-equity-partners)
- [Vertex Ventures Japan](https://altss.com/profile/vertex-ventures-japan)

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Last updated: 2026-06-03T20:00:00.000Z

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