CHAPEL HILL – TrueBridge, a Chapel Hill-based investment firm, is again raising capital for a fund of funds.

The latest fund, known as the TrueBridge Seed & Micro-VC II, L.P, is seeking to raise $150 million, and already has more than $53 million committed from 20 investors according to a securities filing.

In September 2021, the firm closed its first fund of funds, raising $170 million in commitments from its investors.

That initial fund was described in a statement from the investment firm was one that would invest in “high-performing fund managers raising funds of $200 million or less and/or investing in the earliest stages of companies.”

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

“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 upon the close of the fund in September 2021. “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.”

Now, the firm is raising capital for its second fund of funds.  It also announced a fund that would focus on blockchain last year.

In 2020, the firm was acquired by a Dallas-based entity, P10 Holdings.