True Ventures, the early-stage venture firm that made some of the first investments in companies like Fitbit, Automattic and Makerbot, has officially closed $290 million for its fourth fund.
The closing comes as True Ventures has seen a couple of its earlier investments see exits over the past year or so, including Stratasys’ acquisition of MakerBot and the purchase of GoodReads by Amazon.
It’s also seen a couple of its early bets raise big new rounds, including WordPress.com parent Automattic, which just raised a giant $160 million Series C round. And, of course, it’s got some other investments that have not yet exited, but are likely to soon, such as Brightroll, which is one of the few big video ad platforms that hasn’t yet been acquired or gone public.
The new round has been widely expected over the past few months. Fortune reported in January that the firm had $225 million committed to the new fund, and in February an SEC filing emerged showing that the firm was targeting $250 million for True Ventures IV.
So the firm got more than it was hoping for, and about 50 percent more than the $205 million it raised for True Ventures III just two years ago. Altogether, it has raised about $900 million in capital since being founded in 2006.
We’ve reached out to True Ventures for more info about what it’s looking to do with all that money.
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