TPG closed its Tech Adjacencies fund on $1.6 billion, beating its $1.5 billion hard cap. Tech Adjacencies provides capital to founders, employees and early investors in tech companies looking for liquidity. The fund also provides structured equity solutions for companies looking for growth capital. David Trujillo, managing partner, and Nehal Raj, partner, lead the Tech Adjacencies fund.
TPG, a leading global alternative assets firm, announced today the closing of TPG Tech Adjacencies (TTAD), a new investment vehicle focused on capital solutions for the technology industry. TTAD aims to provide flexible capital for founders, employees, and early investors looking for liquidity, as well as primary structured equity solutions for companies looking for additional, creative capital for growth. The fund reached $1.6 billion in capital commitments, surpassing its hard cap of $1.5 billion. TTAD is led by David Trujillo, Managing Partner and Partner, Internet, Digital Media & Communications (IDMC), and Nehal Raj, Partner, Software & Enterprise Technology.
“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.”
Working across TPG Capital, TPG Growth, The Rise Fund, and TTAD, TPG’s IDMC and Software & Enterprise Technology teams have significant experience executing complex transactions and partnering with dynamic companies across all stages of growth. With approximately $9 billion invested in the sectors, select current and past investments include Airbnb, Box, Calm, CCC Information Services, C3, Entertainment Partners, EverFi, Fandom, GreenSky, IMS Health (now known as IQVIA), Intergraph, Ipsy, Kaseya, Lynda.com, McAfee, Noodle.ai, RCN/Grande/Wave Communications, Spotify, Tanium, Uber, WellSky, Wind River, and Zscaler.
TPG is a leading global alternative asset firm founded in 1992 with 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. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth equity, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com.