TCG Crossover (TCGX) – a life sciences-focused investment firm with a fully flexible mandate to invest in both private and public companies – recently announced the closing of its second fund, TCGX Fund II, with $1 billion in capital, exceeding its original hard cap of $900 million in total capital commitments. This offering attracted strong support from new and existing limited partners, with commitments coming globally from investors in North America, Europe, the Middle East, and Asia.
TCGX Fund I (the inaugural fund launched in February 2021) delivered a differentiated track record of M&A and successful IPOs. And TCGX invests exclusively in innovative drug discovery companies seeking to make an impact on patients.
TCGX was launched in 2021 by Dr. Chen Yu, a former Managing Partner at Vivo Capital. Dr. Yu has over 20 years of experience investing in both public and privately held life sciences companies globally.
As part of the initiation of Fund II, TCGX also announced the promotion of Cariad Chester to Managing Partner and Giuliano Marostica to Partner.
Within the last 18 months, the firm has also added a number of other members to the team:
— Ed Amorosi, Head of Capital Formation & Investor Relations
— Susan Wang, Associate
— Haithem Laaribi, Associate
— George Feng, Analyst
Launched in 2021, TCGX has raised more than $1.8 billion in total capital.
KEY QUOTES:
“On behalf of the TCGX team, we are proud to have exceeded our target for the Fund II raise and we are pleased with the returns we have delivered for our limited partners during a challenging market.”
“Cariad and Giuliano have been instrumental to the foundation of TCGX and their promotions reflect their deep contributions to the firm.”
— Dr. Chen Yu
