TPG Growth, the middle market and growth equity investment platform of TPG, announced today the closing of TPG Growth III, its largest fund dedicated to investments in small- and mid-sized growth companies.
The fund reached over USD3 billion in aggregate capital commitments, surpassing its fundraising target of USD2.75 billion in five months.
“The interest in our third fund speaks to the success of TPG’s growth equity strategy. We invest in dynamic companies, partnering with founders and management teams to leverage the full resources of the TPG platform and scale businesses in the US and around the world,” says Bill McGlashan, Founder and Managing Partner of TPG Growth. “We look forward to identifying investment opportunities that can continue to deliver value for our investors, while helping to build great new companies.”
TPG Growth’s current and past investments represent a mix of disruptive and innovative companies across technology, retail and entertainment including Uber; Airbnb; Box; Domo; Beautycounter; Ride; SurveyMonkey; Evolution Media, whose companies include Matador, Slingshot and Layer3; STX Entertainment; elf Cosmetics; Angie’s Artisan Treats; Fender; Apollo Towers; and Masan Group.
With more than USD7 billion in assets under management and committed capital, TPG Growth pursues selective investments in companies in a broad range of industries, with a significant focus on large, emerging markets such as China and India. TPG Growth offers deep sector knowledge, operational resources and global experience to drive value creation. Leveraging TPG’s core sector teams, portfolio companies and network, TPG Growth also provides management teams with strategic counsel, global reach and high-level business relationships to help them grow their companies and reach their full potential.
Growth III has a diverse investor base consisting of public and private pension funds, foundations and endowments, insurance companies, and high net worth individuals. More than 80% of the Growth III investors have also invested in previous TPG Growth funds.
