TrueBridge Capital Partners Raises $170 Million for Seed & Micro-VC Fund I
Firm will continue proven strategy of investing in premier, access-constrained VCs working with companies at the earliest stages
CHAPEL HILL, N.C., September 8, 2021-- Venture capital investment firm TrueBridge Capital Partners today announced the close of its first venture capital fund-of-funds focused solely on seed and micro-VC firms, TrueBridge Capital Partners Seed & Micro-VC Fund I, L.P., with $170 million in limited partner commitments. The Fund will invest in high-performing fund managers raising funds of $200 million or less and/or investing in the earliest stages of companies. The fund surpassed its fundraising target with strong support from both existing limited partners and new investors, including foundations and endowments, pension funds, family offices, and high net worth individuals.
"We have partnered with the best seed managers – both established and emerging – almost since the inception of the firm," said Edwin Poston, co-founder and general partner of TrueBridge. "The launch of our dedicated Seed & Micro-VC Fund is a logical extension of those efforts, and we're excited to expand our platform in a way that allows us to continue investing in those managers who are focused on the earliest stages of company development – a critical and exciting phase for startups."
Since its founding in 2007, TrueBridge has maintained a focused strategy of investing in premier, access-constrained venture capital managers primarily focused on early-stage technology companies. Over the past decade, TrueBridge has established a platform of complementary venture capital strategies to support its primary fund investment strategy, including the successful launches of TrueBridge Direct Funds I and II as well as investments in leading and emerging seed and micro-VC managers.
"Many firms have recently entered the seed market, but TrueBridge has been an active participant in this space for over a decade," said David Frankel, co-founder and managing partner at Founder Collective, a seed-stage firm that made early investments in Uber, Coupang, and PillPack. "This new fund cements an already strong commitment to the earliest stage of the innovation ecosystem and we look forward to working with the team for years to come."
"The seed space has exploded over the last decade and continues to evolve as founders look for investors who can serve as critical advisors and network connectors in their earliest days," said Jack Altman, founder of the Jack Altman Fund. "I appreciate that TrueBridge has a focus on data and results, but is also willing to align those metrics with a creative mindset and new investor models to find and invest in great emerging managers."
About TrueBridge Capital Partners
TrueBridge Capital Partners is a venture capital investment firm managing more than $4 billion in assets. TrueBridge invests in venture and seed and micro-VC funds focused primarily on early-stage IT, as well as directly in select venture and growth-stage technology companies. To date, the Firm has raised a series of six flagship venture capital funds-of-funds as well as two direct investment funds.
TrueBridge is the data partner behind Forbes' Midas List and Next Billion Dollar Startups, and is a regular venture-focused contributor on Forbes' platform. The firm was founded in 2007, and is headquartered in Chapel Hill, North Carolina. For more information, please visit www.truebridgecapital.com.
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