The Durham, N.C.-based firm was co-founded last year by General Partners Ed Poston, who was managing director of The Rockefeller Foundation, and Mel Williams, a founding member of the UNC Management Co.
The TrueBridge fund is designed to build and grow an endowment for the Kauffman Fellows Program.
Earlybird closes fourth fund
Limited partners include Osaka Gas, Procific, European Investment Fund and VCM Capital Management.
Earlybird invests in tech companies in the United States and Europe. The firm raised about $225 million for its previous fund, which closed in 2000.