TrueBridge Capital Partners, a Chapel Hill, N.C.-based venture capital investment firm, closed its second direct investment fund, at $190m.
TrueBridge Direct Fund II, L.P., received commitments from both new and existing investors, including foundations, endowments, pension plans, family offices, and high net worth individuals. The new fund will target top-performing venture and growth stage technology companies based predominantly within the United States, investing alongside the firm’s elite venture capital managers.
Direct Fund II will continue to complement the firm’s fund-of-funds strategy and invest in high-performing access-constrained venture capital opportunities to generate premium value for investors.
Founded in 2007 by Edwin Poston and Mel Williams, TrueBridge Capital Partners is a venture capital investment firm managing $3.3 billion in assets. It invests in venture and seed/micro-VC funds focused primarily on early-stage IT, as well as directly in select venture and growth stage technology companies.
The firm has closed seven funds to date, including its flagship funds-of-funds and inaugural direct fund.