TPG has closed TPG Tech Adjacencies LP (TTAD) with $1.6 billion in capital commitments, surpassing its hard cap of $1.5 billion.
TTAD will target investments in the technology industry and will provide capital for founders, employees, and early investors looking for liquidity, as well as structured equity for companies looking for growth capital.
“The firm has a history of building new, innovative products and strategies to address evolving market opportunities,” said Jon Winkelried, Co-CEO of TPG. “In developing TTAD, we’re combining our differentiated insight and sector expertise to bring a new capital solution to an emerging class of technology companies and entrepreneurs who are choosing to stay private longer. TTAD marks another step in the evolution of TPG’s platform as we continue to find differentiated ways to deliver value for our investors.”
TTAD is led by David Trujillo, a partner at TPG based in San Francisco, who leads the firm’s Internet, digital media, and communications investing efforts; and Nehal Raj, a partner at TPG based in San Francisco, who heads the firm’s technology group.
Across all its investment platforms and funds – which include TPG Capital, TPG Growth, The Rise Fund, and TTAD – the firm has significant experience in the Internet, digital media, and communications (IDMC) and software & enterprise technology (SET) sectors. With approximately $9 billion invested in the IDMC and SET sectors, current and past investments include Airbnb, Box, CCC Information Services, Fandom, IMS Health, Ipsy, McAfee, Spotify, and Uber.
TPG invests in a wide range of asset classes, including private equity, growth equity, real estate, credit, and public equity. The firm, founded in 1992, has more than $104 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul and Singapore (www.tpg.com).
© 2019 Private Equity Professional | May 6, 2019