TrueBridge Capital closes third VC fund of funds on $400 mln

TrueBridge Capital Partners has closed its third venture capital and growth equity fund of funds on its $400 million hard cap, beating the $325 million target.

[contextly_sidebar id=”TVImlVMbvoiKw5A3Ensdwdd7UL3flbTp”]The total on Fund III is $408 million including the GP commitment, Dow Jones reported.

TrueBridge Capital III, L.P. will invest in venture funds focused on early stage information technology in the U.S. as well as directly in companies alongside underlying managers.

Limited partners in Fund III include foundations and endowments, private and public pension funds, corporations, asset management firms and high net worth individuals. Also, more than 135 active venture capitalists and entrepreneurs have personally invested in TrueBridge funds.

TrueBridge raised its first fund in 2008 collecting more than $310 million and its second fund in 2011 on more than $342 million. The fund of funds was founded in 2007 by Edwin Poston and Mel Williams and manages more than $1.2 billion.

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