---
title: "TrueBridge Secondaries II Closes $508M — More Than 2× Fund I, No LP Names"
description: "TrueBridge Capital Partners announced the final close of Secondaries II at $508 million on September 8, 2026. Fund I closed at $230 million in 2024. LP names were not disclosed. $15.0 billion is regulatory AUM for the whole firm, not this vehicle."
date: 2026-09-08T00:00:00.000Z
tags: ["2026-vc-news", "venture-capital", "fund-close", "fund-tracker", "market-analysis"]
source: https://venturecapitaltracker.com/2026-truebridge-secondaries-ii-508m
---

# TrueBridge Secondaries II Closes $508M — More Than 2× Fund I, No LP Names

> TrueBridge Capital Partners announced the final close of Secondaries II at $508 million on September 8, 2026. Fund I closed at $230 million in 2024. LP names were not disclosed. $15.0 billion is regulatory AUM for the whole firm, not this vehicle.

**TrueBridge Capital Partners** announced the **final close** of **TrueBridge Secondaries II** at **$508 million** on **September 8, 2026**. [PR Newswire](https://www.prnewswire.com/news-releases/truebridge-capital-partners-announces-close-of-second-venture-secondaries-fund-302872552.html). Fund I closed at **$230 million** in **2024**. That is **more than 2×**, not a new primary-venture vehicle. Last verified **September 9, 2026**.

There is **no** TrueBridge `/fund/` page here. Do not invent one.

## Five-minute decision

| If you need… | Verdict |
| --- | --- |
| What happened | **Closed.** Secondaries II **$508M**. Chapel Hill firm. |
| vs Fund I | Fund I **$230M** (2024). This vehicle is **larger**, same sleeve. |
| LPs | **Not named.** “Foundations and endowments, pension funds, family offices, HNW.” |
| Firm AUM | **More than $15.0B RAUM** — whole platform, **not** Secondaries II. |
| Whether this is VC dry powder for Series A | **No.** Secondaries in funds and companies. |

**Investigate further when:** you care about LP liquidity in long-duration venture, not a new early-stage cheque.

**Wait or pass when:** you need named LPs, DPI, or a company-by-company secondaries book.

## What closed

| Field | Detail |
| --- | --- |
| Vehicle | TrueBridge Secondaries II, L.P. |
| Amount | **$508M** commitments · **Sep 8, 2026** |
| Prior sleeve | Secondaries I **$230M** (2024) |
| Mandate | Venture **fund** secondaries and **direct** secondaries in venture-backed companies (firm) |
| HQ | Chapel Hill, North Carolina; founded **2007** |
| Other platform | Fund investments, directs, customized solutions; data partner on Forbes Midas lists (firm) |

Partner Andrew Winslow’s quote is access-and-selectivity marketing. It is not a track-record table.

## Secondaries vs the primary prints this week

[Nua’s $50 million Series C](/2026-nua-50m-series-c-peak-xv-filter) **mixes primary and secondary** inside a company round. TrueBridge is raising a **dedicated secondaries fund**. Those are different jobs. [Swish Fund III](/2026-swish-ventures-250m-fund-iii) is a **$250 million** primary vehicle whose **$800 million** headline is **AUM**. Same trap as TrueBridge’s **$15 billion** RAUM line.

## What remains undisclosed

LP list. Deployment pace. Split between LP-led fund secondaries and direct company secondaries. Fees. TVPI/DPI on Fund I.

Related: [September 9 index](/2026-september-9-investment-news-antioch-truebridge-yc) · [Swish $250M vs $800M AUM](/2026-swish-ventures-250m-fund-iii) · [a16z Growth top-up](/2026-a16z-8-5b-growth-fund) · [Cherubic Fund VI](/2026-cherubic-ventures-68-88m-fund-vi).

**By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy)
**Last updated:** September 9, 2026

**Editorial note:** AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.