Toba Capital Management in Newport Beach invested $4 million in Irvine-based True Drinks Inc.
Toba is headed by Vinny Smith, who founded the venture capital firm after selling Aliso Viejo-based Quest Software Inc. to Dell Inc. in 2012 for $2.4 billion.
True Drinks makes no-sugar, flavored water products with a stated objective to provide healthy alternatives to sugary children’s drinks.
The company had $2.7 million in revenue for the year through June 2014, up 250% over the prior two years.
The growth rate landed it on the Business Journal’s annual list of fastest-growing public companies in OC for 2014. It had a recent market capitalization of $7.1 million.
