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September 24, 2020 | Tom Ballard

Truist Ventures created through merger of BB&T and SunTrust

I doubt that Truist is a household name in your vocabulary yet, but it is the name that came out of the merger of banking giants BB&T and SunTrust.

As part of the merger, Truist Ventures was created as the successor to a BB&T effort to invest in budding financial firms along with some investments from the SunTrust side of the merger. The fund is led by Vanessa Indriolo Vreeland, a former executive at SunTrust and Fifth Third.

According to this article in The Charlotte Observer, the bank is seeking a diverse set of a portfolio companies to help accelerate the bank’s digital transition. There’s also a more detailed article here.

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