CHAPEL HILL — Venture capital investment firm TrueBridge Capital Partners today announced the close of its sixth venture capital fund-of-funds, TrueBridge Capital Partners Fund VI, L.P. (“Fund VI”) with $600 million in limited partner commitments.
This raise surpasses its previous fund of $450 million and now manages over $3.3 billion in assets.
The Chapel Hill-based fir said Fund VI received strong support from new and existing limited partners worldwide, including foundations and endowments, pension funds, family offices, and high net worth individuals.
“Today’s global economic environment is one with a truly unprecedented level of uncertainty. Now more than ever, there is a tremendous need and opportunity to connect venture capitalists and entrepreneurs as they pioneer new technologies to better navigate our evolving world,” said Mel Williams, co-founder and general partner of TrueBridge, in a statement.
“We are grateful and humbled by the support of our longstanding and new limited partners, which will enable us to continue to deliver resources to leading venture capitalists as they catalyze innovation with the most transformative companies in the world.”
Founded in 2007, TrueBridge invests in venture and seed/micro-VC funds focused primarily on early-stage IT, as well as directly in select venture and growth stage technology companies.
TrueBridge has successfully closed eight funds to date, including its flagship funds-of-funds and inaugural direct fund, bringing the firm’s total assets under management to $3.3 billion. Its portfolio includes a number of well-known tech startups such as Uber, Twitter, SpaceX and Dropbox.
TrueBridge is the data partner behind Forbes’ Midas List and Next Billion Dollar Startups, and is a regular venture-focused contributor on Forbes’ platform.
Original Article Source: WRAL TechWire