TrueBridge Capital Partners closes sixth fund to invest in top VC firms

Deal

TrueBridge Capital Partners has closed its sixth venture capital fund-of-funds, TrueBridge Capital Partners Fund VI, with USD600 million in capital from LPs.

Investors into TrueBridge Fund VI include new and existing global LPs, including foundations and endowments, pension funds, family offices, as well as high net worth individuals.

With this latest fund, TrueBridge now manages over USD3.3 billion in assets. “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.

Established in 2007 and headquartered in Chapel Hill, North Carolina, TrueBridge invests in venture and seed/micro-VC funds focused mainly on early-stage IT, as well as directly in venture and growth stage tech companies.

“We have come to appreciate first-hand TrueBridge’s strong value proposition and its appeal to venture investors seeking a thoughtful and long-term oriented partner,” said Geoff Ralston, president of Y Combinator.

“Investing in new and disruptive technologies is more important than ever, and TrueBridge’s partnership enables us to continue funding innovative companies and driving positive change across all economic cycles,” he added. The firm’s portfolio includes airbnb, Pinterest, reddit, Slack and uber, while it has exited the likes of Twitter, Spotify, Snapchat and Dropbox. 

During the past several years, TrueBridge has established a platform of venture capital strategies to support its fund investment strategy, including launches of TrueBridge Direct Funds I and II, as well as investing in seed and micro VC managers.

The firm is the data partner behind Forbes’ Midas List and Next Billion Dollar Startups, and is a regular contributor on Forbes, with a focus on venture.