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TPG

North America, California, United States, San Francisco

Description

TPG, originally known as Texas Pacific Group, is a prominent global alternative asset firm established in 1992. Headquartered in San Francisco and Fort Worth, TPG has evolved into a diversified investment powerhouse, managing capital across a broad spectrum of strategies including private equity, growth equity, real estate, impact investing, and public market strategies. The firm is recognized for its deep sector expertise and a hands-on approach to value creation, partnering with management teams to drive operational improvements and strategic growth.

TPG operates through several distinct platforms tailored to specific investment opportunities. TPG Capital focuses on large-scale private equity buyouts, targeting mature companies with significant potential for transformation. TPG Growth, on the other hand, specializes in growth equity and middle-market buyouts, investing in dynamic companies across various stages of development. Additionally, TPG Rise is a leading impact investing platform dedicated to achieving measurable social and environmental impact alongside financial returns, while TPG Real Estate focuses on global real estate investments.

With over $224 billion in assets under management as of Q4 2023, TPG demonstrates its substantial scale and influence in the global investment landscape. The firm's investment sizes vary significantly depending on the specific fund and strategy. For instance, TPG Growth's typical equity investments range from approximately $50 million to $300 million, targeting high-growth companies. In contrast, TPG Capital's buyout deals often involve equity checks starting from several hundred million dollars and extending into the billions, reflecting their focus on large, established enterprises. This diverse approach allows TPG to engage with companies across a wide range of sizes and industries, from emerging disruptors to global market leaders.

Investor Profile

TPG has backed more than 227 startups, with 15 new investments in the last 12 months alone. The firm has led 108 rounds, about 48% of its total and boasts 90 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Private Equity, Series Unknown, Series B rounds (top funding stages).
  • Majority of deals are located in United States, India, China.
  • Strong thematic focus on Health Care, Software, Biotechnology.
  • Led 9 rounds in the past year.
  • Typical check size: $50M – $2000M.

Stage Focus

  • Private Equity (32%)
  • Series Unknown (15%)
  • Series B (12%)
  • Series C (12%)
  • Post Ipo Equity (8%)
  • Series D (4%)
  • Series A (4%)
  • Secondary Market (4%)
  • Debt Financing (2%)
  • Seed (2%)

Country Focus

  • United States (67%)
  • India (8%)
  • China (5%)
  • United Kingdom (2%)
  • South Korea (2%)
  • Germany (2%)
  • Australia (2%)
  • Brazil (1%)
  • Singapore (1%)
  • Vietnam (1%)

Industry Focus

  • Health Care
  • Software
  • Biotechnology
  • Financial Services
  • Information Technology
  • Manufacturing
  • Medical
  • Fintech
  • Finance
  • Internet
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does TPG frequently co-invest with?

Kleiner Perkins
North America, California, United States, Menlo Park
Co-Investments: 6
Goldman Sachs
North America, New York, United States, New York
Co-Investments: 5
InterWest Partners
North America, California, United States, Menlo Park
Co-Investments: 6
New Enterprise Associates
North America, California, United States, Menlo Park
Co-Investments: 5
Norwest Venture Partners
North America, California, United States, Palo Alto
Co-Investments: 7
Kohlberg Kravis Roberts
North America, New York, United States, Hudson
Co-Investments: 5
Dragoneer Investment Group
North America, California, United States, San Francisco
Co-Investments: 5
Alta Partners
North America, Mississippi, United States, Jackson
Co-Investments: 7
IVP
North America, California, United States, Menlo Park
Co-Investments: 5
Tiger Global Management
North America, New York, United States, New York
Co-Investments: 5

Which angels does TPG often collaborate with?

BW
North America, California, United States, Los Angeles
Shared Deals: 1
WH
North America, California, United States, San Francisco
Shared Deals: 1
CG
Europe, England, United Kingdom, London
Shared Deals: 1
JL
North America, United States
Shared Deals: 1
AM
North America, California, United States, San Francisco
Shared Deals: 1
Vallabh Bhanshali
Asia, Maharashtra, India, Mumbai
Shared Deals: 1
GS
North America, California, United States, San Francisco
Shared Deals: 1
RC
Asia, Maharashtra, India, Mumbai
Shared Deals: 1
JL
North America, California, United States, Los Angeles
Shared Deals: 1
SP
North America, California, United States, San Francisco
Shared Deals: 1

What are some of recent deals done by TPG?

Citykart

New Delhi, Delhi, India

CityKart is a fashion retailer that specializes in affordable apparel and lifestyle products for the entire family.

E-CommerceLifestyleMarketingRetail
Series BMay 27, 2025
Amount Raised: $14,106,521
Cliffwater

Marina Del Rey, California, United States

Cliffwater LLC provides alternative advisory services to institutional investors.

ConsultingFinancial ServicesFinTechVenture Capital
Private EquityApr 21, 2025
DealStack

London, England, United Kingdom

Helping Private Equity dealmaking evolve.

SeedApr 8, 2025
Amount Raised: $5,494,070
Enpal

Berlin, Berlin, Germany

Enpal is a photovoltaics leasing firm that provides solar power systems for homeowners.

EnergyEnvironmental ConsultingRenewable EnergySolar
Series UnknownApr 7, 2025
Amount Raised: $120,799,075
Novotech

Sydney, New South Wales, Australia

Novotech is internationally recognized as a leading regional full-service CRO.

BiotechnologyHealth Care
Private EquityMar 31, 2025
BVI Medical

Waltham, Massachusetts, United States

BVI Medical is a manufacturer, and marketer of specialized surgical devices for the ophthalmic marketplace.

EyewearHealth CareManufacturingMedical Device
Private EquityMar 10, 2025
Amount Raised: $1,000,000,000
Cohere Capital

Boston, Massachusetts, United States

Cohere Capital is a growth focused private equity firm that invests in leading middle-market businesses.

Private EquityJan 16, 2025
Saluda Medical

Bloomington, Minnesota, United States

Saluda Medical is a commercial-stage medical device company that develops treatments for chronic neurological conditions.

Health CareMedicalMedical DeviceTherapeutics
Series UnknownJan 10, 2025
Amount Raised: $100,000,000
Ouro Medicines

San Francisco, California, United States

Ouroboros Medicines is a biotechnology company specializes in immunology.

BiotechnologyHealth CareMedical
Series AJan 10, 2025
Amount Raised: $120,000,000
Fora Financial

New York, New York, United States

Fora Financial provides flexible financing to small and medium-sized businesses to sustain and grow their enterprise.

BankingFinanceFinTechLending
Debt FinancingDec 10, 2024
Amount Raised: $200,000,000