CHAPEL HILL, N.C., May 14, 2024 /PRNewswire/ — TrueBridge Capital Partners
TrueBridge Capital Partners Fund VIII, L.P. Secures $884 Million
TrueBridge Capital Partners announced the successful completion of fundraising for its eighth venture capital fund of funds, Fund VIII, which closed with an impressive $884 million in commitments. Exceeding its initial fundraising target, Fund VIII attracted significant interest from both long-standing and new investors. Throughout its history, TrueBridge Capital Partners has adhered to a consistent and effective strategy of investing in top-tier, access-constrained venture capital firms, primarily those focused on nurturing early-stage technology companies. Fund VIII will continue to build upon this established approach, allocating capital to high-performing venture firms while strategically diversifying across various sectors and vintage years to optimize portfolio construction and returns.
“We are thrilled to continue our partnerships with exceptional fund managers and innovative companies that are at the forefront of technological advancement,” stated Edwin Poston, General Partner at TrueBridge Capital Partners. “In the current market landscape, we are observing a clear preference for quality within the venture ecosystem. The most promising founders, groundbreaking ideas, high-growth companies, and top-performing funds are those best positioned to attract capital. We deeply appreciate the ongoing support of our limited partners, which enables TrueBridge Capital Partners to empower leading venture capital investors and technology companies that are collectively shaping the future of innovation.”
Expansion in Early-Stage Investing: TrueBridge Seed & Micro-VC II, L.P. Closes at $189 Million
TrueBridge Capital Partners has further solidified its commitment to early-stage venture capital with the final close of Seed & Micro-VC II, securing total commitments of $189 million. Recognizing the critical importance of the seed stage in fostering innovation, TrueBridge Capital Partners expanded its strategy into this space in 2011. This led to the launch of its first dedicated seed & micro-VC fund of funds in 2019. Building on the demonstrated success of its predecessor fund, Seed & Micro-VC II represents TrueBridge Capital Partners’ continued dedication to investing in specialized seed and micro-VC managers. These managers play a vital role in identifying, supporting, and nurturing companies at the very earliest stages of their development, providing crucial capital and mentorship during formative periods.
TrueBridge Direct Fund III, L.P. Reaches $253 Million for Direct Investments
Direct Fund III, TrueBridge Capital Partners’ vehicle for direct investments, has achieved a final close with $253 million in total commitments. Direct Fund III is the firm’s third fund dedicated to making direct investments in carefully selected mid- to late-stage technology companies. These investments are strategically made alongside highly respected venture capital managers, leveraging TrueBridge Capital Partners’ extensive network and industry insights. The firm’s strong relationships with its fund managers provide unparalleled access to valuable information, high-quality deal flow, and introductions to key management teams within portfolio companies. TrueBridge Capital Partners initiated its direct investment strategy in 2008 and launched its first dedicated direct investment fund in 2015, demonstrating a long-term commitment to this approach.
Launch into Secondaries: TrueBridge Secondaries I, L.P. Closes at $230 Million
Recognizing the growing opportunities within the venture secondaries market, TrueBridge Capital Partners launched its inaugural dedicated secondaries fund, Secondaries I, which closed with $230 million in total commitments. Secondaries I is designed to construct a diversified portfolio comprising top-performing mid- to late-stage companies and venture fund stakes, capitalizing on the increasing liquidity and dynamism of the venture secondaries market. By leveraging TrueBridge Capital Partners’ deep-rooted relationships and comprehensive understanding of the venture capital ecosystem, Secondaries I is strategically positioned to capitalize on attractive investment opportunities within this rapidly evolving market segment.
“The expansion of the venture secondaries market is creating new avenues for limited partners to access high-performing venture assets,” explained Andrew Winslow, Partner at TrueBridge Capital Partners. “These opportunities often come with enhanced visibility into portfolio performance, potentially shorter remaining hold periods, and the possibility of attractive pricing. The launch of our dedicated secondaries fund highlights TrueBridge Capital Partners’ commitment to leveraging this growing market to deliver compelling value for our limited partners.”
Strategic Entry into Digital Assets: TrueBridge Blockchain I, L.P. Secures $62 Million
Demonstrating foresight and adaptability, TrueBridge Capital Partners has launched its first dedicated blockchain fund, Blockchain I, which closed with $62 million in commitments. With Blockchain I, TrueBridge Capital Partners aims to build a carefully curated portfolio of leading blockchain-focused venture funds and high-potential companies operating within the blockchain and digital asset sector. This dedicated fund enables TrueBridge Capital Partners to strategically capitalize on the significant market momentum driving the adoption and development of blockchain technology, while also addressing the increasing demand from limited partners seeking exposure to this complex and rapidly evolving asset class.
“We identified the transformative potential of blockchain technology early in its development, and this dedicated fund underscores TrueBridge Capital Partners’ ongoing commitment to this groundbreaking sector,” stated Mel Williams, General Partner at TrueBridge Capital Partners.
Since its inception in 2007, TrueBridge Capital Partners has maintained a singular focus on venture capital investments. This specialization encompasses commitments to access-constrained venture capital managers and direct investments in some of the most successful and innovative technology startups, alongside select venture managers. Over the past decade, TrueBridge Capital Partners has strategically expanded its platform of venture capital offerings, establishing dedicated funds to effectively support both of these core investment strategies, providing comprehensive access to the venture capital asset class for its investors.
About TrueBridge Capital Partners
TrueBridge Capital Partners is a premier venture capital investment firm with over $7.5 billion in assets under management. Specializing exclusively in venture capital, TrueBridge Capital Partners invests in top-performing, access-constrained venture funds, primarily focusing on early-stage information technology (IT) companies. Additionally, the firm makes direct investments in select venture and growth-stage technology companies, often co-investing alongside its network of leading venture fund managers. TrueBridge Capital Partners constructs diversified portfolios designed to provide its limited partners with differentiated access to compelling opportunities within the venture capital landscape through its established commingled funds and customized investment solutions. Notably, TrueBridge Capital Partners serves as the data partner behind Forbes’ prestigious Midas List, Midas Seed List, Midas List Europe, and Next Billion-Dollar Startups rankings, and is a regular contributor to Forbes’ platform providing venture capital insights and analysis. Founded in 2007, TrueBridge Capital Partners is headquartered in Chapel Hill, North Carolina. For further information, please visit www.truebridgecapital.com.
TrueBridge Capital Partners · 1011 S. Hamilton Road Suite 400 · Chapel Hill, NC 27517 · 919.442.5201 · truebridgecapital.com
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