TRUEBRIDGE CAPITAL PARTNERS CLOSES THIRD FUND AT $400 MILLION HARD CAP;
TrueBridge Fund III Marks The Firm’s Third Oversubscribed Venture Capital and Growth Equity Fund September 10th, 2014 – Chapel Hill, NC – Boutique alternative asset investment firm TrueBridge Capital Partners (www.truebridgecapital.com) today announced the closing of its third venture capital and growth equity fund-of- funds, TrueBridge Fund III, L.P. (“Fund III”). Fund III received $400 million in limited partner commitments, exceeding a $325 million target and reaching its hard cap. TrueBridge manages over $1.2 billion in assets. With its third fund, TrueBridge will continue to invest primarily in high-performing and difficult-to-access venture funds focused on early stage IT companies in the U.S., as well as directly in select companies alongside its underlying managers. “We are grateful for the continued support of our limited partners, who allow us to do what we love to do each day,” said TrueBridge Co-Founder and General Partner, Edwin Poston. “TrueBridge is proud to partner with those venture managers who consistently identify breakout technology companies in order to create superior returns.” Josh Kopelman, co-founder and general partner of seed stage venture firm First Round Capital, said, “At First Round we recognize when an investor is committed to a long-term partnership with us. TrueBridge is certainly one of those investors, as evidenced by their rigorous due diligence process and desire to be a helpful and value- add limited partner. ” TrueBridge’s limited partners include foundations and endowments, private and public pension funds, corporations, asset management firms, and high net-worth individuals. “What makes TrueBridge unique is first and foremost its people,” said Jennifer Sassani, director of alternative investments at Lehigh University, a limited partner in several TrueBridge funds. “The relationships developed by the TrueBridge team have resulted in their ability to access many of the top performing U.S. venture firms that are typically closed to new investors, as well as identify potential up-and-coming, next-generation venture firms.” Alex Steel, head of corporate venture capital at leading agriculture company, Syngenta, said, “TrueBridge’s track record of working with leading venture capital investors gives them a unique perspective on the origin of new technologies. Because of this, they are able to connect us with opportunities that may impact our industry.” Syngenta is a Fund III investor and one of TrueBridge’s corporate partners. In addition, over 135 active venture capitalists and entrepreneurs, many of whom are affiliated with the Center for Venture Education (https://bit.ly/1wDKlcn), have personally invested in TrueBridge funds. Founded in 2007, TrueBridge raised its first fund in 2008 with a final fund size of more than $310 million, and its second fund in 2011 closing on over $342 million. About TrueBridge Capital Partners TrueBridge is a niche venture capital and growth equity investment firm and registered investment advisor managing over $1.2 billion in institutional assets. TrueBridge invests primarily in U.S. venture funds focused on early stage information technology companies in the U.S., as well as directly in select, later stage technology companies alongside its managers. The firm has an exclusive strategic partnership with the Center for Venture Education, the leading venture education institution which has been training and networking future venture capitalists for over 20 years. In exchange for unique insight advantages, TrueBridge donates half of its earnings in order to build a long-term endowment for the Center. TrueBridge is also known for its work as data partner of the Forbes Midas List, and is a regular contributor on Forbes.com (https://onforb.es/1rAz9LF). TrueBridge was established in 2007 by co-founders Edwin Poston and Mel Williams, and is headquartered in Chapel Hill, North Carolina. Contact: TrueBridge Capital Partners Alanna Brock, Communications Manager Phone: 919.442.5201 E-mail: abrock@truebridgecapital.com
