US-based agribusiness Syngenta has invested as a limited partner in the $408m fund of funds raised by investment firm TrueBridge Capital Partners, the Wall Street Journal reported on Wednesday.
Trustbridge’s TrueBridge Fund III surpassed its target of $325m as well as its hard cap of $400m. It will invest in funds targeting early stage US-based IT companies and directly in companies itself.
The other limited partners for the fund include First Round Capital, Lehigh University, undisclosed corporations, foundations and endowments, pension funds, asset management firms and high net-worth individuals.
TrueBridge was founded in 2007 and raised $310m for its first fund the following year. It subsequently raised more than $342m for a second fund in 2011.
Alex Steel, head of corporate venture capital for Syngenta, said: “TrueBridge’s track record of working with leading venture capital investors gives them a unique perspective on the origin of new technologies. Because of this, they are able to connect us with opportunities that may impact our industry.”