CHAPEL HILL — Venture capital investment firm TrueBridge Capital Partners (“TrueBridge”) closed its fifth venture capital fund-of-funds, TrueBridge Capital Partners Fund V.

Fund V received $450 million in limited partner commitments, exceeding its $375 million target and reaching its hard cap. With this latest fund, TrueBridge continues its history of closing oversubscribed funds and surpasses its previous fund of $400 million. TrueBridge now manages over $2.2 billion in assets.

Edwin Poston, co-founder and general partner of TrueBridge, said in a statement, “We founded TrueBridge on the premise that venture capital is a compelling asset class for those who can invest in the handful of elite managers that drive the industry. Every day we partner with venture capitalists and entrepreneurs who are growing and changing not only the most dynamic areas of technology, but also much of the broader economy.”

Brian Singerman, general partner of Founders Fund said in a news release, “TrueBridge has the respect of every top venture firm because of both the caliber of their team and their commitment to the teams they back. Founders Fund could not succeed without long-term partners like TrueBridge supporting our mission.”

TrueBridge Fund V received support from new and existing limited partners, including foundations and endowments, corporate and public pension funds, family offices, and high-net-worth individuals. TrueBridge is also pleased to have received support from more than 150 venture capitalists and entrepreneurs who have personally invested across TrueBridge funds.

TrueBridge is a venture capital investment firm and registered investment advisor managing over $2.2 billion in institutional assets. TrueBridge invests primarily in venture and seed funds focused on early-stage IT companies in northern California, as well as directly in select, primarily mid- to late-stage technology companies alongside its managers.

TrueBridge is known as the data partner behind Forbes’ Midas List, Midas List Europe, and Next Billion Dollar Startups List and is a regular venture-focused contributor on

TrueBridge has been  consistent as it raised its first fund in 2007 with a final fund size of more than $310 million; its second fund in 2010, which closed on more than $342 million; its third fund in 2013, with $400 million in limited partner commitments; and its fourth fund in 2015, reaching $400 million in commitments. In 2017, TrueBridge closed its first direct investment fund at $125 million in commitments.

TrueBridge was established in 2007 by co-founders Edwin Poston and Mel Williams and is headquartered in Chapel Hill, North Carolina.