overview
From newspaper publishing across Australia and the UK to setting up the biggest independent record label in Australia alongside Tim McGee (Ministry of Sound, now TMRW Music) and completing a whopping 11 Ironman Triathlons including 3 x World Championships in Hawaii, it's fair to say Richard is a man of many talents! In 2004 Richard set up with 5 other shareholders (including Tim McGee) Mirror Image Access (MIA) with Richard as CEO. The company built a class leading digital asset delivery platform and quickly won major contracts with all the Australian telecom companies and delivered millions of digital downloads via the mobile phone. The business grew rapidly and quickly became international with offices in the UK, Singapore and the USA. MIA was sold to Nasdaq listed Digital Turbine (APPS). Richard moved to London in 2013 and invested in and helped set up True, with founders Matt and Paul. He has invested in many early stage start-up sand sits on multiple boards and mentors across the portfolio.
meet Richard
Why did you choose True?
I was the original investor in True when founders Matt and Paul set up the business back in 2012, and helped set up the original office and so we did not have to hold team meetings in my kitchen! I chose to get involved with Matt and Paul as I loved their vision of what True could become and how it could differentiate itself from its competitors and offer investors, businesses and brands a new unique eco-system that benefits all.
How would you describe your job to a five-year-old?
What I say to my 5 year old: "Daddy makes calls and speaks to people on his computer. I work with people to make their ideas bigger and better".
What book, article or movie has profoundly impacted your life?
The Great Escape – I am still desperately trying to be as cool as Steve McQueen and failing miserably, but just keep trying.
If you could reimagine something to make life easier for people, what would it be?
Our school system! Allow children and teenagers to engage with things that they are genuinely interested in and not just based on a central curriculum. Let them find their thing and help them shape it to a more fulfilling career.
What innovation are you most excited about disrupting the current retail and consumer landscape?
A combination of a change in regulation in the shape of Open Banking and what that means for the payments arena and new platforms that will bring about new ways of e-commerce and consumer behaviour.
What makes a start-up standout to you?
The founder. And how simple the idea is and why did I not think about it!
relevant people
James Wain
Director, Investment
“Most recently, James has been CFO at Soulfresh and before that he previously spent a number of years as part of True’s PE team in London. He has also spent time with PWC and began his career at THG – so a long history in consumer. He’s also quite clever, as anybody who has enjoyed a conversation with James over the years will have quickly gathered… In short, I am a huge James fan!”
Matt Truman
Executive Chair and Co-founder
“Matt is one of the most connected, energetic, smart and kind men in the investment world. Always helpful and forever three steps ahead of the rest. You always leave inspired after an hour chatting to Matt.”
