TruStage Ventures

TruStage Ventures is the dedicated corporate venture capital arm of CUNA Mutual Group, which rebranded to TruStage in 2023. The parent is a mutual insurance and financial services company that serves credit unions and their members. The venture unit was established in 2016 to invest in technologies that align with the credit-union mission of expanding financial access.

TruStage Ventures invests directly into early-stage companies, typically leading or participating in seed through Series B rounds. It does not operate as a fund-of-funds; the firm takes equity positions in operating companies. Its capital comes from the parent company's balance sheet.

Sam Das has led the firm as Managing Director since at least 2022 and is the primary decision-maker for investment commitments. He manages a team of investment professionals with prior experience in fintech operating roles and institutional investing.

Fintech and insurtech form the core of the portfolio, given the parent company's base in credit-union financial services. The firm also invests in enterprise software, digital health, climate technology, and artificial-intelligence startups that serve or could integrate with the financial services ecosystem.

The firm sources through its network of credit unions, its own industry relationships, and co-investor referrals from traditional institutional VCs. Its multi-city office footprint — including San Francisco, Seattle, and Brooklyn — gives it access to the major US startup hubs, while the Madison headquarters connects it to the credit-union industry's center of gravity.

Yes. The parent company is a mutual, not a publicly traded corporation, which means the venture team operates without external quarterly-earnings pressure. TruStage Ventures has publicly committed to investing in companies that advance financial inclusion and serve underserved communities, consistent with the credit-union movement's founding principles.

No. TruStage Ventures is a corporate venture capital division of a mutual insurance and financial services company. It deploys balance-sheet capital from CUNA Mutual Group (TruStage) and is not structured as a family office.