Built & Backed, Episode 24: Elizabeth McCluskey

Elizabeth McCluskey is a Managing Director at TruStage Ventures, the venture capital arm of TruStage. She leads the TruStage Ventures Discovery Fund, which invests in early stage fintech companies led by underrepresented founders. Over the last four years, she has deployed ~$15M to companies building solutions in lending, financial wellness and banking technology. Elizabeth is responsible for sourcing, diligence, and deal execution, as well as supporting a portfolio of 25 companies. She is an active community builder and thought leader in the fintech space, regularly appearing on panels, podcasts, and articles to share advice and commentary.

Beyond fintech, Elizabeth is passionate about empowering and mentoring early-stage entrepreneurs building solutions rooted in community, sustainability, and health. She is an Executive in Residence at Johns Hopkins University’s Ward Infinity Accelerator, where she provides strategic coaching, network introductions, and advisory support to early-stage ventures. She also serves on the Investment Committee at the Agora Initiative, the Advisory Committee at Sidelines VC, and as a Founding Member of Brydge Club.

Prior to TruStage, Elizabeth was a Principal at Impact Engine, where she helped launch the investment firm’s first venture capital fund. There, she invested in early-stage software companies in economic empowerment, environmental sustainability, and health equity.

Elizabeth began her career at UBS in investment banking and wealth management. She graduated cum laude from Harvard College with a Bachelor’s degree in Economics, and received an MBA from the University of Michigan’s Ross School of Business. She is also a Certified Financial Planner (CFP).

During this episode, we discuss:

How Elizabeth started her career in banking before transitioning to VC
Her focus on underrepresented founders
The angel investing she does on the side
How there are more women writing checks now
Advice for any underrepresented founder who is looking to raise a round
A few portfolio companies she’s been proud to support
How companies can crack into both B2C and B2B audiences
Her advice for anyone looking to make their first angel investment
What she would recommend to fintech founders looking to get funded
Her shoutout to Lexsy and founder Kristina Subbotina

And more. Tune into this episode as we dive into all things VC!