HedgeCo.Net — TrueBridge Capital Partners on September 8, 2026 announced the final close of TrueBridge Secondaries II, L.P. with $508 million in commitments, according to the firm’s PR Newswire release and Pulse 2.0. The oversubscribed fund more than doubled TrueBridge Secondaries I, which closed with $230 million in 2024.
Secondaries II will buy venture fund interests and make direct secondary purchases in venture-backed companies, emphasizing opportunities where TrueBridge’s manager relationships and underwriting provide an edge. Investors included foundations, endowments, pension funds, family offices and high-net-worth individuals.
TrueBridge cited longer private company lives and less predictable IPO and M&A exits as drivers of secondary demand. The firm said it manages more than $15.0 billion in regulatory AUM.
For LPs seeking venture-secondaries exposure, the hard marks are the $508 million Secondaries II close, the $230 million Secondaries I predecessor, the dual fund-interest and direct-company mandate, and more than $15.0 billion regulatory AUM. Do not invent deployment pace or prior-fund DPI beyond the announced commitments.