TrueBridge Capital Partners, a leading venture capital investment firm, has announced the successful completion of fundraising for five new investment vehicles, amassing $1.6 billion in commitments. This significant achievement propels the firm’s total assets under management (AUM) to over $7.5 billion. The newly closed funds include TrueBridge Capital Partners Fund VIII, TrueBridge Seed & Micro-VC II, TrueBridge Direct Fund III, TrueBridge Secondaries I, and TrueBridge Blockchain I. These funds garnered substantial backing from both existing limited partners and a diverse group of new investors, encompassing foundations, endowments, pension funds, family offices, and high-net-worth individuals.
TrueBridge Capital Partners Fund VIII, L.P., the firm’s flagship fund of funds, closed at $884 million, exceeding its initial fundraising target. This eighth venture capital fund will continue TrueBridge’s long-standing and successful strategy of investing in top-tier, access-constrained venture capital firms, primarily those focused on early-stage technology companies. Fund VIII will maintain this disciplined approach, concentrating on high-performing venture firms while ensuring diversification across various technology sectors and investment vintages.
Edwin Poston, General Partner at TrueBridge Capital Partners, commented on the fundraise and the current venture landscape: “We are proud to continue our partnerships with exceptional managers and innovative companies that are at the forefront of technological advancement. In today’s market, we observe a clear trend towards quality within the venture ecosystem. The most promising founders, groundbreaking ideas, robust companies, and high-caliber funds are best positioned to attract capital. We deeply appreciate the ongoing support from our limited partners, which empowers us to back leading venture capital investors and technology companies that are shaping the trajectory of the future.”
TrueBridge Seed & Micro-VC II, L.P. finalized its capital raise with $189 million in commitments. TrueBridge Capital Partners expanded its investment strategy to include the seed stage in 2011, subsequently launching its inaugural dedicated seed & micro-VC fund of funds in 2019. Building upon the accomplishments of its predecessor fund, Seed & Micro-VC II reinforces the firm’s sustained dedication to investing in seed and micro-VC managers who are focused on cultivating companies from their earliest inception.
Direct Fund III, L.P., dedicated to direct investments in technology companies, concluded fundraising with $253 million in total commitments. Direct Fund III represents TrueBridge Capital Partners’ third vehicle for direct investments into select mid- to late-stage technology companies, co-investing alongside highly regarded venture capital managers. TrueBridge’s extensive network and strong relationships with its fund managers provide valuable early access to critical market intelligence, deal flow, and introductions to key management teams. The firm’s direct investment activity began in 2008, with the first dedicated direct investment fund launched in 2015.
TrueBridge Secondaries I, L.P. marks the firm’s entry into the venture secondaries market, closing its first dedicated secondaries fund at $230 million in commitments. Secondaries I aims to construct a diversified portfolio comprising stakes in top-performing mid- to late-stage companies and venture funds, capitalizing on the expanding venture secondaries market. By leveraging its deep-rooted relationships and comprehensive understanding of the venture capital ecosystem, TrueBridge Secondaries I is well-positioned to capitalize on compelling opportunities within this evolving market sector.
Andrew Winslow, Partner at TrueBridge Capital Partners, highlighted the strategic rationale behind the new secondaries fund: “The increasing depth and maturity of the venture secondaries market offers limited partners enhanced access to high-performing venture assets. This access comes with improved visibility and potentially shorter remaining holding periods, along with the possibility of acquiring assets at attractive valuations. The launch of our dedicated secondaries fund underscores our commitment to leveraging this growing market to generate value for our limited partners.”
TrueBridge Blockchain I, L.P., the firm’s inaugural fund focused on blockchain technology, completed its fundraising with $62 million in total commitments. With Blockchain I, TrueBridge Capital Partners seeks to assemble a curated portfolio of leading blockchain-focused venture funds and promising companies within the blockchain sector. This specialized fund enables the firm to effectively tap into the underlying momentum within the blockchain market, while simultaneously addressing the growing demand from limited partners for exposure to this complex and rapidly evolving area.
Mel Williams, General Partner at TrueBridge Capital Partners, emphasized the firm’s early recognition of blockchain’s transformative potential: “We identified the significant potential of blockchain technology early in its development, and this dedicated fund reflects our ongoing commitment to this transformative sector.”
Since its inception in 2007, TrueBridge Capital Partners has maintained an exclusive focus on venture capital investments. This encompasses commitments to access-constrained venture capital managers and direct investments in high-growth technology startups alongside select venture firms. Over the past decade, TrueBridge has strategically expanded its venture capital platform, establishing specialized funds to support both of these core investment strategies.
About TrueBridge Capital Partners
TrueBridge Capital Partners is a venture capital investment firm managing over $7.5 billion in assets. The firm is exclusively focused on venture capital, investing in top-performing, access-constrained venture funds that primarily target early-stage IT companies, and also makes direct investments in select venture and growth-stage technology companies. TrueBridge constructs diversified portfolios to facilitate access to compelling venture capital opportunities for its partners through its established commingled funds and customized investment solutions. Notably, TrueBridge is the data partner behind Forbes’ esteemed Midas List, Midas Seed List, Midas List Europe, and Next Billion-Dollar Startups rankings, and is a frequent contributor on Forbes’ platform, providing venture capital insights. Founded in 2007 and headquartered in Chapel Hill, North Carolina, TrueBridge Capital Partners provides investors with unparalleled access to the venture capital asset class. For more information, please visit www.truebridgecapital.com.
TrueBridge Capital Partners · 1011 S. Hamilton Road Suite 400 · Chapel Hill, NC 27517 · 919.442.5201
Original Source: TrueBridge Capital Partners
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