TrueBridge Capital Partners Raises $ 170 Million for Seed Fund and Micro-VC I
CHAPEL HILL, North Carolina, September 8, 2021 / PRNewswire / – Venture capital firm TrueBridge Capital Partners today announced the closing of its first venture capital fund of funds focused solely on seed and micro-VC firms, TrueBridge Capital Partners Seed & Micro-VC Fund I, LP, with $ 170 million in the sponsorship commitments. The Fund will invest in high performing fund managers raising funds from $ 200 million or less and / or by investing in the early stages of business. The fund exceeded its fundraising target thanks to strong support from existing sponsors and new investors, including foundations and endowments, pension funds, family offices and high net worth individuals.
“We have partnered with top seed managers – established and emerging – almost since the inception of the company,” said Edwin Poston, co-founder and general partner of TrueBridge. “The launch of our dedicated Seed & Micro-VC fund is a logical extension of these efforts, and we are excited to expand our platform in a way that allows us to continue to invest in these managers who focus on early stages of business development – a critical and exciting phase for startups. “
Since its founding in 2007, TrueBridge has maintained a focused strategy of investing in leading, limited-access venture capital managers, primarily focused on technology start-ups. Over the past decade, TrueBridge has built a platform of complementary venture capital strategies to support its core fund investing 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 companies 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 of Founder Collective, a start-up company that made early investments in Uber, Coupang and PillPack. “This new fund cements an already strong commitment to the early stages of the innovation ecosystem and we look forward to working with the team for years to come.
“The seed space has exploded over the past decade and continues to evolve as founders seek out investors who can serve as critical advisors and network connectors in their early days,” said Jack altman, founder of the Jack Altman Fund. “I appreciate that TrueBridge focuses on data and results, but is also ready to align these metrics with a creative mindset and new models of investors to find and invest in great emerging managers. ”
About TrueBridge Capital Partners
TrueBridge Capital Partners is a venture capital investment firm managing over $ 4 billion in assets. TrueBridge invests in venture capital, seed and micro-VC funds focused primarily on early stage IT, as well as directly in certain early stage technology companies and venture capitalists. To date, the Cabinet 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, business-focused contributor to the Forbes platform. The company was founded in 2007 and is based in Chapel Hill, North Carolina. For more information, please visit www.truebridgecapital.com.
SOURCE TrueBridge Capital Partners