True Ventures raises $840m for two new funds

True Ventures raises a combined $840m for two new funds, including $465m for its latest core early-stage fund, $375m for its Select Fund IV.

Early-stage tech investor True Ventures announced it has raised $840 million for two new funds. The new funds includes $465 million for its seventh core early-stage fund, True Ventures VII, and $375 million for True Ventures Select Fund IV. The Select Fund is used to invest in follow-on rounds in the firm’s most rapidly growing portfolio companies.

When True Ventures filed to raised the funds in June, the firm listed for the first time Puneet Agarwal alongside co-founders Phil Black and Jon Callaghan.

Source: True Ventures blog post