TB
TPG Biotech
San Francisco, California, United StatesFounded 1992
TPG Biotech, through its TPG Life Sciences Innovations fund, focuses on providing "inflection capital" to advance breakthrough life science technologies to clinical proof-of-concept. Their strategy involves investing across the life sciences spectrum, from preclinical to commercial stages, with a particular interest in areas such as precision oncology, immunology, ophthalmology, metabolic diseases, and rare diseases.
67% of their portfolio is in Biotech & Life Sciences. Their most common stage is series-c (67% of deals). Average disclosed round size is $52.3M (across 3 rounds with reported amounts).
Portfolio
3
Fund Size
$910M
Top Stage
Series C
Last 12 Mo
0
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
3 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Carisma Therapeutics Inc. | Series A | $53M | Jun 2018 |
 DNAnexus | Series C | $58M | Jan 2018 |
 Otonomy, Inc. | Series C | $45.9M | Sep 2013 |
Top Co-Investors
M12 (Microsoft)1 shared
Foresite Capital1 shared
GV (Google Ventures)1 shared
MidCap Financial1 shared
Wellington Management1 shared
HealthCap1 shared
IP Group1 shared
Grazia1 shared
MRL Ventures Fund1 shared
Agent Capital1 shared
Aperture Venture Partners1 shared
Osage University Partners1 shared
Avalon Capital Group1 shared
Domain Associates1 shared
Novo Holdings1 shared
RiverVest Venture Partners1 shared
Last updated: 4 May 2026