Chapel Hill, N.C.-based Venture capital investment firm TrueBridge Capital Partners closed its fifth venture capital fund-of-funds, at $450m.
TrueBridge Capital Partners Fund V, L.P., received support from new and existing limited partners, including foundations and endowments, corporate and public pension funds, family offices, and high-net-worth individuals.
Established in 2007 by co-founders Edwin Poston and Mel Williams, TrueBridge is a venture capital investment firm and registered investment advisor managing over $2.2 billion in institutional assets, which invests primarily in venture and seed funds focused on early-stage IT companies in northern California, as well as directly in select, primarily mid- to late-stage technology companies alongside its managers.
TrueBridge now manages over $2.2 billion in assets, having raised its first fund in 2007 with a final fund size of more than $310m; its second fund in 2010, which closed on more than $342m; its third fund in 2013, with $400m in limited partner commitments; and its fourth fund in 2015, reaching $400m in commitments. In 2017, TrueBridge closed its first direct investment fund at $125m in commitments.