VC fund briefs, week of Aug. 18, 2008

TrueBridge raises FoF

TrueBridge Capital Partners has closed its first VC fund-of-funds in partnership with the Kauffman Fellows Program and the Center for Venture Education. The fund raised $310 million, surpassing its $250 million target.

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

Earlybird Venture Capital, a Hamburg, Germany-based venture capital firm, has closed its fourth fund with about $188 million in capital commitments.

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.