TPG Biotech
San Francisco, California, United StatesFounded 2001
TPG Biotech is the life sciences venture capital platform of TPG, a leading global alternative asset manager. It partners with scientific founders to invest in novel therapeutics, medical devices, diagnostics, and tech-enabled services from company creation through commercial stages.
Deal activity decreased year-over-year (3 deals in the last 12 months vs 6 prior). Average disclosed round size is $327.0M (across 79 rounds with reported amounts).
Portfolio
65
Fund Size
$580M
Top Stage
Growth
Last 12 Mo
3
Team
AA
Arun Agarwal
TPG Growth, TPG Technology Adjacencies
AA
Alex Albert
TPG Capital, TPG Healthcare Partners
AB
Avi Banyasz
TPG Real Estate Partners
R“
Robert “Bob” Baziuk
TPG Real Estate Finance Trust
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
97 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 CHG Convene Hospitality Group | Growth | $230M | Mar 2026 |
 Sling Therapeutics | Series C | $123M | Jan 2026 |
 Tide | Growth | — | Sep 2025 |
 Hala | Series D | $157M | Sep 2025 |
 Lyric Bio | Series B | $43.5M | Aug 2025 |
 OpenAI | Growth | $8.3B | Aug 2025 |
 Avalyn Pharma, Inc. | Series D | $100M | Jul 2025 |
 Enpal | Unknown | — | Apr 2025 |
 Novotech Holdings | Unknown | — | Mar 2025 |
 Twelve | Growth | $645M | Sep 2024 |
 MBrace Therapeutics | Series B | $85M | Jan 2023 |
 Project44 | Growth | $80M | Nov 2022 |
| Sling Therapeutics | Series A | $35M | Jun 2022 |
| SSalsify, Inc. | Series F | $200M | Apr 2022 |
 Acorns | Series F | $300M | Mar 2022 |
| BBeauty For All Industries | Unknown | — | Feb 2022 |
| Project44 | Growth | — | Jan 2022 |
 Course Hero | Series C | — | Dec 2021 |
 Dream Sports | Growth | $840M | Nov 2021 |
 Seasoned | Series A | $18.7M | Nov 2021 |
 Everlaw | Series D | $202M | Nov 2021 |
 Kajabi | Growth | $550M | May 2021 |
| Dream Sports | Growth | — | Mar 2021 |
| CCarisma Therapeutics | Series B | — | Mar 2021 |
 MX Technologies | Series C | $300M | Jan 2021 |
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Top Co-Investors
Wellington Management10 shared
GV8 shared
Novo Capital8 shared
Sequoia Capital7 shared
Insight Partners7 shared
HealthCap7 shared
Lightspeed Venture Partners6 shared
T. Rowe Price5 shared
Fidelity Investments5 shared
MRL Ventures Fund5 shared
Agent Capital5 shared
Domain Associates5 shared
AbbVie5 shared
D1 Capital Partners4 shared
Dragoneer Investment Group4 shared
Tiger Global Management, LLC4 shared
The Goldman Sachs Group, Inc.4 shared
Foresite Capital4 shared
New Enterprise Associates4 shared
Grazia Equity4 shared
Last updated: 27 September 2026