Over the years, TrueBridge Capital Partners has invested in companies like Stripe, Uber and Airbnb. Now it is looking for the next generation of unicorns to support with its new $190m fund.
The venture capital investor’s new TrueBridge Direct Fund II is its seventh funds to date, including its flagship funds-of-funds and inaugural direct fund. The closure of the round brings the total assets under management by TrueBridge to $3.3bn.
The fund received strong demand from investors worldwide and was oversubscribed, with commitments from both new and existing investors. The diverse array of investors includes foundations, endowments, pension plans, family offices, and high net worth individuals.
TrueBridge will use the new fund to support promising tech startups, predominantly in the US.
“We are proud to continue partnering with leading entrepreneurs and their venture capital investors as they grow the next generation of iconic businesses,” said Edwin Poston, co-founder and general partner of TrueBridge. “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.”
TrueBridge employs an innovative fund-of-funds model and venture platform leveraging the relationships and experience of its investment team and the unique insights generated by the firm’s partnerships across a variety of industries.
“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,” said Mel Williams, TrueBridge co-founder and general partner. “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.”
Copyright © 2020 FinTech Global
