TrueBridge Capital Partners, a Chapel Hill, N.C.-based venture capital firm, closed its first venture capital fund-of-funds focused solely on seed and micro-VC firms, with $170m in limited partner commitments.
TrueBridge Capital Partners Seed & Micro-VC Fund I, L.P., received support from both existing limited partners and new investors, including foundations and endowments, pension funds, family offices, and high net worth individuals. It will invest in high-performing fund managers raising funds of $200m or less and/or investing in the earliest stages of companies.
Founded in 2007, TrueBridge invests in premier, access-constrained venture capital managers primarily focused on early-stage technology companies. Over the past decade, the firm has established a platform of complementary venture capital strategies to support its primary fund investment strategy, including the launches of TrueBridge Direct Funds I and II as well as investments in leading and emerging seed and micro-VC managers.
To date, TrueBridge Capital Partners has raised a series of six flagship venture capital funds-of-funds as well as two direct investment funds. The firm manages more than $4 billion in assets.