Well into 2023, markets remain unsettled. We are making the most of this business climate by honing the strategies responsible for the success of our first two funds. Focus pays. True West Fund III closed 2022 with fourteen investments. This spring and summer are shaping up to be every bit as promising.

Our experience navigating the ups and downs of multiple economic cycles affirms our investment philosophy. Tactics change when markets are in flux, but our approach continues to provide flexibility without compromising the rigor of our discipline. And there are always smart business owners worthy of our resources and focus.