TrueBridge Capital Closes Fifth Venture Capital Fund-Of-Funds At $450 Hard Cap
Fund V Marks the Firm's Fifth Oversubscribed Venture Capital and Growth Equity Fund; Maintains Focus on Northern California, Early Stage IT
CHAPEL HILL, N. Car., February 7, 2018-- Venture capital investment firm TrueBridge Capital Partners ("TrueBridge") today announced the close of its fifth venture capital fund-of-funds, TrueBridge Capital Partners Fund V, L.P. ("Fund V"). Fund V received $450 million in limited partner commitments, exceeding its $375 million target and reaching its hard cap. With this latest fund, TrueBridge continues its history of closing oversubscribed funds and surpasses its previous fund of $400 million. TrueBridge now manages over $2.2 billion in assets.
Edwin Poston, co-founder and general partner of TrueBridge, said, "We founded TrueBridge on the premise that venture capital is a compelling asset class for those who can invest in the handful of elite managers that drive the industry. Every day we partner with venture capitalists and entrepreneurs who are growing and changing not only the most dynamic areas of technology, but also much of the broader economy. We are proud to work with these talented venture capitalists and are equally proud to work on behalf of our limited partners, who have consistently invested with us and trusted us. Thank you for your support."
Since its founding in 2007, TrueBridge has maintained its strategy of investing in premier, access-constrained venture capital managers primarily focused on early-stage IT companies based in northern California, as well as directly investing in some of the best-performing tech startups alongside select managers. Over the past ten years, the Firm has established a platform of complementary venture capital strategies to support its primary fund investment strategy, including raising its first direct investment fund, TrueBridge Direct Fund, and investing in both established and emerging seed and micro-VC funds.
Brian Singerman, general partner of Founders Fund said, "TrueBridge has the respect of every top venture firm because of both the caliber of their team and their commitment to the teams they back. Founders Fund could not succeed without long-term partners like TrueBridge supporting our mission."
TrueBridge Fund V received support from new and existing limited partners, including foundations and endowments, corporate and public pension funds, family offices, and high-net-worth individuals. TrueBridge is also pleased to have received support from more than 150 venture capitalists and entrepreneurs who have personally invested across TrueBridge funds.
About TrueBridge Capital Partners
TrueBridge is a venture capital investment firm and registered investment advisor managing over $2.2 billion in institutional assets. TrueBridge 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 is known as the data partner behind Forbes' Midas List, Midas List Europe, and Next Billion Dollar Startups List and is a regular venture-focused contributor on Forbes.com (http://forbes.com/sites/truebridge/).
TrueBridge has been disciplined and consistent as it raised its first fund in 2007 with a final fund size of more than $310 million; its second fund in 2010, which closed on more than $342 million; its third fund in 2013, with $400 million in limited partner commitments; and its fourth fund in 2015, reaching $400 million in commitments. In 2017, TrueBridge closed its first direct investment fund at $125 million in commitments.
TrueBridge was established in 2007 by co-founders Edwin Poston and Mel Williams and is headquartered in Chapel Hill, North Carolina.
Venture Capital Database