TrueBridge Capital Partners Announces Final Closing of CVE-Kauffman Fellows Endowment Fund
Inaugural Fund Closed Above Its Capital Commitment Target in Seven
Months
CHAPEL HILL, N.C.--(Business Wire)--
TrueBridge Capital Partners today announced the final closing of
its inaugural CVE-Kauffman Fellows Endowment Fund. The Fund closed
with over $310 million of capital commitments, well in excess of its
stated $250 million target, and was completed in a short seven months.
The Fund will invest primarily in well established and high performing
venture capital and growth equity managers and has partnered
exclusively with the Center for Venture Education (CVE), Home of the
Kauffman Fellows Program and CVE Capital, to leverage its large and
growing network of Kauffman Fellows. Through its performance, the Fund
will help build and grow a long-term endowment for the Kauffman
Fellows Program.
Mel Williams, General Partner of TrueBridge Capital Partners
stated, "We are certainly gratified by the market's positive reception
to our offering, and are excited about our partnership with CVE
Capital and the Kauffman Fellows Program. We believe the insight and
access provided by our unique relationship with CVE Capital will
provide TrueBridge Capital with a unique advantage in identifying and
investing in the best venture capital firms."
The Kauffman Fellows Program recognizes, develops, and networks
the next generation of leaders in the venture capital industry, and
has ties to many of the leading venture capital firms in the United
States, having mentored a Kauffman Fellow or currently employing a
Kauffman Fellow.
"We are excited about the synergy between TrueBridge Capital and
the broad network of Kauffman Fellows who are active venture
capitalists," said Susan Mason, general partner at ONSET Ventures, and
chairperson of the Center for Venture Education, home of the Kauffman
Fellows Program. "Because of its ties with the program, this new fund
can provide access to firms that other limited partners might not have
entree to."
Edwin Poston, General Partner of TrueBridge Capital Partners
commented, "Building a new firm that invests with the very best
venture and growth equity firms has required considerable effort, and
we have been thrilled with the support we have received. Receiving
support from the outstanding General Partners in which we have
invested, from the terrific base of limited partners in our fund and
from CVE and the Kauffman Fellows has been extremely gratifying."
The new fund currently has over 50 Kauffman Fellows invested in
the fund as limited partners.
Phil Wickham, President and CEO of CVE commented, "We at the
Center for Venture Education are very excited to partner with the team
at TrueBridge on this effort, as Mel and Edwin truly understand our
long-term vision. Their global reach and focus on building long-term
relationships with top-tier GPs perfectly reflects our history as well
as our strategy going forward."
About TrueBridge Capital Partners
TrueBridge Capital Partners is an alternative asset investment
firm founded in 2007. The firm was formed to provide differentiated
value to investors by offering alternative investment strategies that
are unique and difficult to replicate, and as a result, deliver high
real rates of return. TrueBridge Capital Partners was founded by Edwin
Poston and Mel Williams, who bring over twenty-five years of
experience in the private equity industry as successful investors,
entrepreneurs, and transaction advisors. The firm leverages the
principals' extensive investment, operational, and portfolio
management experience to build high performing portfolios of
investment managers.
For more information please visit
http://www.truebridgecapital.com/.
About the Kauffman Fellows Program & the Center for Venture
Education
The Kauffman Fellows Program identifies, develops, and networks
emerging global leaders in venture capital. Working full-time at a
venture capital firm, Kauffman Fellows engage in a practical, 24-month
apprenticeship including professional coaching, mentoring by senior
partners, and quarterly sessions of industry and leadership
curriculum. As members of the Society of Kauffman Fellows throughout
their careers, fellows join a trusted network of nearly 400 investment
professionals -- in Silicon Valley and across 5 continents -- that
links together 140 investing firms actively deploying $40B in venture
capital. Insights are shared, resources are made available,
opportunities are efficiently vetted and syndicated; the result is the
launch of better, stronger companies and, correspondingly, enhanced
returns to venture investors.
Based in Palo Alto, California, the Kauffman Fellows Program is
administered by the Center for Venture Education, a 501(c)(3)
post-graduate educational institution dedicated to fostering
entrepreneurship throughout society. Inspired by Ewing Marion
Kauffman's legacy of promoting "economically independent individuals
who are engaged and contributing citizens," Kauffman Fellows to date
have made $6 billion in venture capital investments, sparking growth
in 500 new enterprises, $15 billion in annually recurring revenues and
the creation of 48,000 jobs. Visit www.kfp.org to learn more.
TrueBridge Capital Partners
Edwin Poston, 919-806-4373
eposton@truebridgecapital.com
Mel Williams, 919-806-4373
mwilliams@truebridgecapital.com
Copyright Business Wire 2008
