Chapel Hill, North Carolina-based Alternative asset investment firm TrueBridge Capital Partners closed its third venture capital and growth equity fund-of-funds, at $400m in commitments.
Limited partners include foundations and endowments, private and public pension funds, corporations, asset management firms, and high net-worth individuals including over 135 active venture capitalists and entrepreneurs, many of whom are affiliated with the Center for Venture Education.
TrueBridge Fund III, L.P., which exceeded a $325m target, will continue to invest primarily in U.S. venture funds focused on early stage information technology companies in the U.S., as well as directly in select, later stage technology companies alongside its managers.
Founded in 2007, TrueBridge raised its first fund in 2008 with a final fund size of more than $310m, and its second fund in 2011 closing on over $342m.
Led by Edwin Poston and Mel Williams, the firm manages over $1.2 billion in assets.