True Ventures raises $635m

The California headquartered investment firm has announced the final close on its two funds.

True Ventures has held the final close on its sixth early stage fund, True Ventures VI, at $350 million and its third select fund, True Ventures Select III, at $285 million. The two funds are backed by existing investors.

Fund VI will continue to invest in VC firms across a range of industries including enterprise software, connected devices, consumer brands, cryptocurrency, and digital biology, while Select III will focus on portfolio companies that have achieved meaningful market traction.