TrueBridge Capital Partners, a Chapel Hill, N.C.-based venture capital firm, is aiming to raise $750M for its newly launched eighth fund-of-funds, named TrueBridge Capital Partners Fund VIII.
The fund's cap is the same amount it secured for its seventh vehicle a year ago.
- TrueBridge makes investments in high-performing venture capital firms with proven track records.
- Its debut $310M fund in 2008 received backing from South Carolina's and North Carolina's employee retirement systems.
- TrueBridge was founded by UNC-Chapel Hill graduates Mel Williams and Edwin Poston in 2007.
- The firm started as a fund-of-funds investor but has since expanded its business model to directly fund early-stage and late-stage technology ventures.
- TrueBridge currently has $5.5B worth of assets under management.