Chapel Hill, N.C.-based venture capital firm TrueBridge Capital Partners closed its fourth venture capital fund-of-funds.
TrueBridge-Kauffman Fellows Endowment Fund IV, L.P., received $400m in limited partner commitments from foundations and endowments, corporate and public pension funds, family offices, and high-net-worth individuals including more than 150 venture capitalists and entrepreneurs many of whom affiliated with the Center for Venture Education, exceeding the $325m target and reaching its hard cap, a strategic partner of the firm, have personally invested in TrueBridge funds.
Fund IV will primarily invest in high-performing and access-constrained venture funds focused on early-stage IT companies based in Northern California. It will also benefit from exposure to the firm’s complementary commitments to leading seed funds and direct investments in select, primarily mid- to late-stage technology companies.
Established in 2007 by co-founders Edwin Poston and Mel Williams, TrueBridge Capital Partners is a venture capital investment firm and registered investment advisor managing over $1.6 billion in institutional assets.
It raised its first fund in 2008 with a final fund size of more than $310m, its second fund in 2011, which closed on more than $342m; and its third fund in 2014, with $400m in limited partner commitments.