TCG Crossover ("TCGX") Announces Oversubscribed $1B TCGX Fund II
TCG Crossover ("TCGX"), a life sciences-focused investment firm with a fully flexible mandate to invest in both private and public companies, announces the closing of its second fund, TCGX Fund II, with $1B in capital, exceeding its original hard cap of $900M in total capital commitments. The offering attracted strong support from new and existing limited partners with commitments coming globally from investors in North America, Europe, the Middle East, and Asia.
TCGX Fund I, the inaugural fund launched in February 2021, delivered a differentiated track record of M&A and successful IPOs. TCGX invests exclusively in innovative drug discovery companies seeking to make an impact on patients.
TCGX was founded in 2021 by Dr. Chen Yu, a former Managing Partner at Vivo Capital. Dr. Yu has over 20 years of experience investing in both public and privately held life sciences companies globally.
"On behalf of the TCGX team, we are proud to have exceeded our target for the Fund II raise and we are pleased with the returns we have delivered for our limited partners during a challenging market," said Dr. Yu.
As part of the initiation of Fund II, TCGX is delighted to announce the promotion of Cariad Chester to Managing Partner and Giuliano Marostica to Partner.
"Cariad and Giuliano have been instrumental to the foundation of TCGX and their promotions reflect their deep contributions to the firm," said Dr. Yu.
Within the last 18 months, the firm has also added a number of other members to the team:
- Ed Amorosi, Head of Capital Formation & Investor Relations
- Susan Wang, Associate
- Haithem Laaribi, Associate
- George Feng, Analyst
Founded in 2021, TCGX has raised more than $1.8B in total capital.
About TCGX:
TCGX is a healthcare investment firm dedicated to advancing disruptive medicines and supporting companies that can improve the lives of patients. TCGX invests in both private and public companies led by exceptional entrepreneurs focused on developing better treatment options for patients. TCGX has investment teams in Palo Alto and New York City. For more information, please visit www.tcgcrossover.com.
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