- Venture capital firm TrueBridge Capital Partners recently announced the close of its second direct investment fund called TrueBridge Direct Fund II
Venture capital firm TrueBridge Capital Partners recently announced the close of its second direct investment fund called TrueBridge Direct Fund II, L.P. with $190 million in commitments. So far, TrueBridge successfully closed seven funds to date, including its flagship funds-of-funds and inaugural direct fund. This brings the firm’s total assets under management to $3.3 billion.
The fund had received strong demand from investors worldwide and was oversubscribed with commitments from both new and existing investors. The investors include foundations, endowments, pension plans, family offices, and high net worth individuals.
The new fund is going to target top-performing venture and growth stage technology companies based predominantly within the U.S. TrueBridge employs an innovative fund-of-funds model and venture platform utilizing the relationships and experience of its investment team and the unique insights generated by the firm’s partnerships across a variety of industries.
As part of the firm’s strategic platform, Direct Fund II will continue to complement TrueBridge’s fund-of-funds strategy and invest in high-performing access-constrained venture capital opportunities to generate premium value for investors.
Key Quotes:
“We are proud to continue partnering with leading entrepreneurs and their venture capital investors as they grow the next generation of iconic businesses. We’re grateful for the confidence that our limited partners have placed in us, and we’re very excited to offer our investors exposure to some of the most transformative companies in the world.”
-Edwin Poston, co-founder and general partner of TrueBridge
“For more than a decade, we have successfully co-invested with our venture capital managers directly into companies, through our funds-of-funds as well as our first direct investment fund. Our second direct fund continues to harness TrueBridge’s deep technology expertise, extensive networks, and substantial resources to create a clear edge in value creation. We are confident in the continued expansion of our strategy and our team’s demonstrated ability to directly help founders, general partners, and entrepreneurs execute on their strategic goals.”
-TrueBridge co-founder and general partner Mel Williams
