TCG Crossover (TCGX) recently announced a significant milestone in its growth with the successful closing of its third investment fund, TCGX Fund III. This fund has attracted $1.3 billion in capital commitments.
The fund garnered support from existing TCGX investors, as well as a variety of new institutional investors, including foundations, pension funds, and endowments. This diverse backing underscores the confidence stakeholders have in TCGX’s vision and investment strategy.
With the close of Fund III, TCGX has now achieved a total of over $3.1 billion in capital raised since its founding in 2021. This achievement highlights the firm’s ability to attract substantial funding in a competitive marketplace, demonstrating the effectiveness of its investment approach and its appeal to a broad range of investors.
The fundraising for Fund III exceeded its initial target, a clear indication of strong global investor demand. This level of interest not only affirms the firm’s strategic direction but also reflects the effectiveness of TCGX’s flexible mandate, which permits investments across both private and public markets. Such versatility enables TCGX to capitalize on a wide array of investment opportunities, catering to varying market conditions and investor needs.
TCGX also promoted Giuliano Marostica to the position of Managing Partner. Marostica’s promotion is a testament to his contributions to the firm and his leadership qualities. As TCGX continues to expand and adapt in the evolving investment landscape, having strong leaders like Marostica will be crucial for navigating future opportunities and challenges.
KEY QUOTES:
“Exceeding our target for Fund III highlights the deep trust and conviction our investors have placed in our team and approach. We remain steadfast in our mission to back visionary entrepreneurs and companies advancing disruptive medicines to improve patient outcomes.”
“Giuliano was the first team member to join me at TCGX, and he has played an integral role in building the firm and bringing tremendous value to our portfolio companies.”
Dr. Chen Yu, Founder and Managing Partner of TCGX
“We are grateful to our investors for their support and appreciate the hard work from our portfolio company operators to enable this accomplishment. With Fund III, we look forward to investing in the next generation of biotechs developing transformative therapies for patients.”
Cariad Chester, Managing Partner at TCGX
“We are fortunate to have built a world-class team at TCGX. Their commitment and talent drive our ability to scale effectively and partner with companies advancing innovative science.”
CFO/COO Craig Skaling
