TrueBridge Capital Partners raises $1.6 billion across five venture capital investment vehicles

TrueBridge Capital Partners raises $1.6 billion across five venture capital investment vehicles

Published: 15-05-2024 10:40:00 | By: Pie Kamau | hits: 398 | Tags:

TrueBridge Capital Partners, a venture capital investment firm, has raised $1.6 billion in commitments across five investment vehicles focusing on venture funds and technology companies:

  • TrueBridge Capital Partners Fund VIII,
  • TrueBridge Seed & Micro-VC II,
  • TrueBridge Direct Fund III,
  • TrueBridge Secondaries I and
  • TrueBridge Blockchain I.

 

The funds received support from both existing limited partners and new investors, including foundations and endowments, pension funds, family offices, and high-net-worth individuals. With these closes, the Firm manages more than $7.5 billion in assets.

TrueBridge Capital Partners Fund VIII

TrueBridge Capital Partners today announced the close of its eighth venture capital fund of funds, Fund VIII, with $884 million in commitments. The fund surpassed its fundraising target with support from new and existing investors. Over the history of the Firm, TrueBridge has maintained a disciplined strategy of investing in top-performing, access-constrained venture capital firms focused primarily on early-stage technology companies. Fund VIII will continue this strategy by concentrating commitments in high-performing venture firms while ensuring diversification by sector and vintage.

Edwin Poston, General Partner, TrueBridge Capital: "We are proud to continue our partnerships with high-performing managers and companies that are driving innovation. Amid current market conditions, we have seen a flight to quality across venture, where only the best founders, ideas, companies, and funds have the ability to raise capital. We are grateful for the continued support from our limited partners, enabling us to empower venture capital investors and technology companies that are shaping the future."

TrueBridge Seed & Micro-VC II

Seed & Micro-VC II held a final close with $189 million in total commitments. TrueBridge expanded its strategy into the seed space in 2011 and launched its first dedicated seed & micro-VC fund of funds in 2019. Building on the success of its predecessor, Seed & Micro-VC II represents the Firm's continued commitment to investing in seed and micro-VC managers focused on nurturing companies at the earliest stages of formation.

TrueBridge Direct Fund III

Direct Fund III held a final close with $253 million in total commitments. Direct Fund III is the Firm's third investment vehicle investing directly in select mid- to late-stage technology companies alongside respected venture managers. The Firm's deep relationships with its fund managers provide early access to crucial information, deal flow, and introductions to top management. TrueBridge began investing directly in companies in 2008 and launched its first dedicated fund in 2015.

TrueBridge Secondaries I

TrueBridge launched its first dedicated secondaries fund, Secondaries I, which held a final close at $230 million in total commitments. Secondaries I aims to build a blended portfolio of top-performing mid- to late-stage companies and venture fund stakes through the rapidly growing venture secondaries market. Leveraging the Firm's relationships and knowledge of the venture ecosystem, Secondaries I is poised to capitalize on opportunities within this evolving market.

Andrew Winslow, Partner, TrueBridge Capital: "The growth of the venture secondaries market is providing limited partners with new and expanded access to high-performing assets with enhanced visibility and potential shorter remaining hold periods in addition to possible discount pricing. The launch of our dedicated secondaries fund underscores our commitment to capitalizing on this growing market for limited partners."

TrueBridge Blockchain I

Blockchain I, TrueBridge's first dedicated blockchain fund, held a final close at $62 million in total commitments. With Blockchain I, TrueBridge aims to curate a blended portfolio of top-performing blockchain-focused venture funds and high-potential companies within the sector. The dedicated fund enables the Firm to capitalize on underlying market momentum while meeting limited partner demand in a complex and evolving sector.

Mel Williams, General Partner, TrueBridge Capital: "We recognized the potential of blockchain technology early on, and this dedicated fund underscores our ongoing commitment to this transformative sector.''

Since its founding in 2007, TrueBridge has maintained a focus on investing solely in venture capital opportunities. This includes commitments to access-constrained venture capital managers and direct investments in some of the highest-performing tech startups alongside select managers. Over the past decade, TrueBridge has deepened its platform of venture capital opportunities, establishing funds to support both of these strategies.

www.truebridgecapital.com

 

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