SAN FRANCISCO – TPG, a leading hedge fund, has closed a new fund valued at $1.6 billion with the odd name TPG Tech Adjacencies (TTAD).
The fund is 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.
Founded in 1992, TPG has over $104 billion in assets under management.