TrueBridge Secondaries II will invest in venture funds and direct secondary transactions involving venture-backed companies.
The employee and early investor auction valued the workplace trust company at over £100 million and marked the third transaction conducted under the PISCES framework.
The sequel fund has secured $150 million from a California pension and will back venture and growth managers through GP stakes, fund commitments, and co-investments.
The deal takes liquidity generated for employees and investors to roughly $220 million in just over a year.
Pinnacle first backed the Saudi hospitality startup's $72 million Series B in 2025, when Gathern was valued at more than $267 million.
The transaction will reportedly value the India-based D2C lifestyle brand at up to $521 million, more than 3x its last reported mark.
Avendus Future Leaders Fund III, which is already 30% deployed, has invested ~$15 million in Parag Parikh Financial Advisory Services via secondary.
The Sydney-based manager has launched its inaugural fund, targeting investments across five AI growth vectors.
Key Capital's debut fund, which targets positions in tech companies through off-cap-table transactions, has already completed two transactions to date.
The oversubscribed fund will target technology investments through direct secondaries.
