Chapel Hill’s TrueBridge Capital closes $170M fund, will focus investments in other VC firms

These Triangle "Tweeners" raised capital in 2020


CHAPEL HILL – Venture capital firm TrueBridge Capital Partners has closed its first venture capital fund-of-funds that will focus on seed- and micro-venture capital firms.

The fund, TrueBridge Capital Partners Seed & Micro-VC Fund I, L.P., received $170 million in commitments from limited partners, the firm announced.

According to the statement, TrueBridge will invest its fund in “high-performing fund managers raising funds of $200 million or less and/or investing in the earliest stages of companies.”

TrueBridge shared in a statement that the commitments raised exceeded the group’s target, and included support from existing limited partners as well as new investors.

“We have partnered with the best seed managers – both established and emerging – almost since the inception of the firm,” said Edwin Poston, co-founder and general partner of TrueBridge in a statement. “The launch of our dedicated Seed & Micro-VC Fund is a logical extension of those efforts, and we’re excited to expand our platform in a way that allows us to continue investing in those managers who are focused on the earliest stages of company development – a critical and exciting phase for startups.”

The firm was founded in 2007.

Earlier this year, the firm closed a $155.5 million fund, Select Fund I.  In July 2020, the firm closed a $600 million fund, TrueBridge Capital Partners Fund VI, L.P.

Chapel Hill investment firm TrueBridge Capital raises $155M

“Many firms 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 at Founder Collective, a seed-stage firm that made early investments in Uber, Coupang, and PillPack, in a statement. “This new fund cements an already strong commitment to the earliest stage of the innovation ecosystem and we look forward to working with the team for years to come.”

According to the firm, TrueBridge manages more than $4 billion in assets.





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Anthony Barnett
Anthony is the author of the Science & Technology section of ANH.