Venture capital firm
TPG portfolio
tpg.comTPG is a venture capital firm based in Fort Worth, United States, founded in 1992. It has invested in 114 venture-backed companies across 142 funding rounds on VCMC, and led 77 of those rounds. 12 of them were in the last 12 months.
114
Venture-backed companies
in its portfolio on VCMC
142
Funding rounds
led 77
12
Last 12 months
rounds, Oct 2025 to Sep 2026
45
With a disclosed valuation
of 114 companies
$1.93T
Combined value of its private companies
the whole companies, not what TPG owns
107 private companies TPG has backed have a VCMC valuation; together they are worth $1.93T. That is the value of the whole companies, not what TPG owns. Anthropic is 57% of the total. 7 companies it backed have since been acquired and are not included. How VCMC values companies.
Values cover private companies only; public companies are not included.
Portfolio
TPG's most valuable portfolio companies
The 10 most valuable private companies TPG has backed, by VCMC's valuation. Values cover private companies only; public companies are not included.
- 1 Anthropic Tech Companies, San Francisco $1.09T range $838.9B – $1.51T Joined at Series F, 2025
- 2 OpenAI Tech Companies, San Francisco $374.6B range $263.0B – $430.9B Joined at Growth, 2025
- 3 Databricks Tech Companies, San Francisco $193.6B range $165.2B – $240.4B Joined at Growth, 2026
- 4 VAST Data Software Development Services $34.5B range $26.1B – $45.4B Joined at Series B, 2019
- 5 Wireless Logic Telecommunications, Reading $32.8B range $19.8B – $50.4B Joined at Growth, 2025
- 6 Crusoe Hosting & Cloud Infrastructure Providers, Denver $31.7B range $26.9B – $46.2B Joined at Series F, 2026
- 7 Veeam Tech Companies, Baar $17.5B range $10.3B – $20.1B Led at Growth, 2024
- 8 BVI Medical Ophthalmic & Optical Instruments & Lenses, Heidelberg $11.5B range $5.6B – $17.5B Joined at Growth, 2025
- 9 ImageFIRST Dry Cleaners, King of Prussia $8.1B range $1.6B – $15.7B Joined at Growth, 2023
- 10 Dream Sports Tech Companies, Mumbai $8.0B range $695M – $9.2B Joined at Growth, 2021
Portfolio
Full TPG portfolio (114 companies)
114 companies. Load more shows the rest.
| # | Last round | History | Range | Trend | Grade | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Vinted Salvage Merchandise & Thrift Stores · led at Growth, 2024 | Other Apr 2026 $1.03B | $6.7B | $4.8B – $7.7B | $6.7B (0%) | $601M | 0% | 4,599 | growing | A | |
| 2 | OpenAI Tech Companies · since Growth, 2025 | Other Mar 2026 $122.00B | $374.6B | $263.0B – $430.9B | $374.6B (0%) | $33.7B | 0% | 11,490 | growing | A | |
| 3 | Anthropic Tech Companies · since Series F, 2025 | Series H May 2026 $65.00B | $1.09T | $838.9B – $1.51T | $1.31T (+20%) | $144.0B | 0% | 6,076 | growing | A | |
| 4 | Databricks Tech Companies · since Growth, 2026 | Growth Equity Aug 2026 $5.00B | $193.6B | $165.2B – $240.4B | $209.0B (+8%) | $18.8B | 0% | 17,130 | growing | A | |
| 5 | Crusoe Hosting & Cloud Infrastructure Providers · since Series F, 2026 | Series F Sep 2026 $3.90B | $31.7B | $26.9B – $46.2B | $40.2B (+27%) | $4.4B | 0% | 1,720 | growing | A | |
| 6 | Enpal Solar Energy Company · led at Series D, 2023 | Growth Equity Apr 2025 $120M | $1.3B | $579M – $2.0B | $1.3B (0%) | $132M | 0% | 3,750 | flat | C | |
| 7 | Wireless Logic Telecommunications · since Growth, 2025 | Growth Equity Nov 2025 $2.30B | $32.8B | $19.8B – $50.4B | $33.1B (+1%) | $3.2B | 0% | 877 | growing | B | |
| 8 | Form Energy Batteries · led at Series E, 2022 | Debt Sep 2026 $270M | $792M | $652M – $1.1B | $985M (+24%) | $108M | 0% | 891 | flat | A | |
| 9 | Veeam Tech Companies · led at Growth, 2024 | Growth Equity Dec 2024 $2.00B | $17.5B | $10.3B – $20.1B | $17.5B (0%) | $1.7B | 0% | 7,511 | up | B | |
| 10 | Dream Sports Tech Companies · since Growth, 2021 | Growth Equity Nov 2021 $840M | $8.0B | $695M – $9.2B | $8.0B (0%) | $911M | 0% | 108 | flat | D | |
| 11 | Intersect Renewable energy companies · led at Growth, 2022 | Other Sep 2025 $41M | $5.9B | $513M – $8.4B | $5.9B (0%) | $530M | 0% | 7 | unknown | D | |
| 12 | VAST Data Software Development Services · since Series B, 2019 | Series F Apr 2026 $1.00B | $34.5B | $26.1B – $45.4B | $39.5B (+15%) | $4.3B | 0% | 1,263 | up | A | |
| 13 | Varo Banks & ATMs · led at Series B, 2018 | Series G Feb 2026 $124M | $1.5B | $979M – $2.3B | $1.2B (-17%) | $213M | 97% | 406 | down | B | |
| 14 | PharmEasy Drug Stores & Pharmacies · led at Series E, 2021 | Debt Sep 2025 $193M | $810M | $259M – $932M | $791M (-2%) | $82.6M | 0% | 3,978 | flat | C | |
| 15 | BVI Medical Ophthalmic & Optical Instruments & Lenses · since Growth, 2025 | Growth Equity Mar 2025 $1.00B | $11.5B | $5.6B – $17.5B | $11.5B (0%) | $1.1B | 0% | 1,058 | up | B | |
| 16 | Tanium Tech Companies · led at Series G, 2017 | Growth Equity Jan 2021 $150M | $3.7B | $264M – $5.9B | $3.7B (0%) | $413M | 0% | 2,321 | flat | D | |
| 17 | project44 Tech Companies · led at Growth, 2022 | Series F Nov 2022 $80M | $1.6B | $332M – $3.6B | $1.3B (-19%) | $361M | 40% | 810 | flat | D | |
| 18 | Cambridge Mobile Telematics Tech Companies · led at Growth, 2026 | Growth Equity Mar 2026 $350M | $4.0B | $2.6B – $6.3B | $3.8B (-5%) | $385M | 37% | 467 | flat | B | |
| 19 | ImageFIRST Dry Cleaners · since Growth, 2023 | Growth Equity Jun 2023 $750M | $8.1B | $1.6B – $15.7B | $7.6B (-5%) | $945M | 0% | 1,333 | up | D | |
| 20 | Twelve Chemicals · led at Growth, 2024 | Series C Mar 2025 $85M | $615M | $324M – $1.2B | $451M (-27%) | $102M | 97% | 260 | down | C | |
| 21 | LIVEKINDLY Collective Food Production · led at Growth, 2021 | Growth Equity May 2022 $200M | $948M | $175M – $3.0B | $857M (-10%) | $202M | 53% | 116 | flat | D | |
| 22 | Kajabi Tech Companies · since Growth, 2021 | Growth Equity Aug 2021 $550M | $1.8B | $144M – $2.7B | $1.8B (0%) | $212M | 0% | 440 | unknown | D | |
| 23 | Monogram Health Home Health Care · led at Series B, 2021 | Growth Equity Jan 2023 $375M | $3.9B | $649M – $5.6B | $3.8B (-3%) | $363M | 0% | 942 | up | D | |
| 24 | XpressBees Shipping Couriers · led at Series F, 2022 | Series G Nov 2023 $80M | $1.9B | $401M – $2.2B | $1.6B (-19%) | $246M | 0% | 8,370 | flat | C | |
| 25 | Kaseya Tech Companies · led at Growth, 2019 | Growth Equity May 2019 $500M | $2.2B | $152M – $2.6B | $2.2B (0%) | $173M | 3% | 5,470 | flat | D | |
| 26 | RefleXion Medical Supply Manufacturers · led at Series C, 2018 | Growth Equity Nov 2023 $105M | $384M | $219M – $888M | $211M (-45%) | $98.8M | 97% | 123 | shrinking | C | |
| 27 | Age of Learning Tech Companies · led at Growth, 2021 | Growth Equity Jul 2021 $300M | $616M | $252M – $3.2B | $506M (-18%) | $297M | 94% | 375 | down | D | |
| 28 | MX Data Solutions · led at Series C, 2021 | Series C Jan 2021 $300M | $1.9B | $298M – $2.6B | $1.8B (-5%) | $296M | 0% | 1,004 | up | D | |
| 29 | Acorns Investment Consultants & Financial Advisors · led at Series E, 2019 | Series F Mar 2022 $300M | $2.0B | $178M – $2.7B | $1.9B (-7%) | $288M | 1% | 599 | flat | D | |
| 30 | Salsify Tech Companies · led at Series F, 2022 | Series F Apr 2022 $200M | $1.3B | $147M – $2.7B | $1.2B (-8%) | $286M | 14% | 587 | flat | D | |
| 31 | Human Interest Retirement Planning · since Series F, 2025 | Series F Oct 2025 $100M | $4.0B | $2.6B – $4.7B | $4.0B (+1%) | $445M | 0% | 916 | up | A | |
| 32 | Tech Companies · led at Series C, 2024 | Series C Jul 2024 $90M | $980M | $398M – $1.4B | $825M (-16%) | $108M | 0% | 198 | up | C | |
| 33 | Tech Companies · led at Growth, 2021 | Growth Equity Jun 2021 $100M | $673M | $79.1M – $2.4B | $631M (-6%) | $119M | 55% | 948 | down | D | |
| 34 | Tech Companies · since Series B, 2015 | Series B Sep 2015 $30M | $1.75M | $0 – $1.75M | $1.75M (0%) | – | 100% | 200 | unknown | dead | |
| 35 | Tech Companies · since Series A, 2018 | Other May 2022 $11M | $16.5M | $1.33M – $39.9M | $15.5M (-6%) | $7.35M | 19% | 52 | flat | D | |
| 36 | Tech Companies · led at Series A, 2018 | Series A Oct 2018 $5.0M | $35.0M | $1.83M – $65.6M | $33.8M (-4%) | $7.00M | 13% | 53 | flat | D | |
| 37 | Tech Companies · led at Growth, 2010 | Growth Equity Feb 2010 | $765M | $40.0M – $1.8B | $765M (0%) | $89.1M | 2% | 383 | flat | D | |
| 38 | Tech Companies · since Series A, 2014 | Acquisition Apr 2023 $4.90B | $5.3B acquired 2023 | $2.6B – $6.1B | – | – | 0% | 1,900 | up | B | |
| 39 | Business and HR Consulting · led at Series C, 2015 | Series C May 2015 $500M | $1.3B | $391M – $4.3B | $1.3B (0%) | $644M | 70% | 227 | flat | D | |
| 40 | Learning, Tutoring & Courses · since Series C, 2021 | Series C Dec 2021 $380M | $1.1B | $318M – $7.3B | $1.1B (0%) | $523M | 96% | 2,256 | down | D | |
| 41 | Solar Energy Company · since Growth, 2021 | Growth Equity Aug 2024 $275M | $3.1B | $1.1B – $4.7B | $2.3B (-25%) | $317M | 0% | 584 | up | C | |
| 42 | Solar Energy Company · since Series C, 2022 | Growth Equity Jan 2024 $400M | $437M | $242M – $1.0B | $262M (-40%) | $98.6M | 90% | 967 | down | C | |
| 43 | Buses, Shuttles & Local Transit · led at Growth, 2026 | Growth Equity Apr 2026 $100M | $1.8B | $1.5B – $2.2B | $1.9B (+6%) | $172M | 0% | 611 | growing | A | |
| 44 | Farms & Agriculture Production · led at Series B, 2022 | Growth Equity Jan 2024 $90M | $1.4B | $649M – $2.1B | $1.2B (-16%) | $125M | 0% | 188 | growing | B | |
| 45 | Tech Companies · led at Growth, 2025 | Growth Equity Sep 2025 $290M | $3.7B | $2.1B – $5.6B | $3.7B (0%) | $331M | 0% | 459 | up | B | |
| 46 | Tech Companies · led at Series E, 2021 | Debt Nov 2022 | $4.7B | $492M – $7.1B | $4.6B (-2%) | $626M | 0% | 503 | up | D | |
| 47 | Batteries · since Growth, 2025 | Debt Apr 2026 $35M | $1.5B | $1.0B – $1.7B | $1.5B (0%) | $134M | 0% | 210 | growing | A | |
| 48 | Decorators & Interior Designers · led at Series C, 2018 | Growth Equity Feb 2022 $180M | $1.0B | $94.1M – $1.2B | $1.0B (0%) | $114M | 0% | 7,896 | flat | D | |
| 49 | Tech Companies · led at Series B, 2023 | Series B Sep 2023 $336M | $3.3B | $452M – $5.5B | $3.0B (-11%) | $403M | 7% | 790 | flat | D | |
| 50 | Tech Companies · since Series G, 2020 | Series I Mar 2022 $200M | $410M | $57.1M – $799M | $377M (-8%) | $85.8M | 29% | 275 | flat | D |
Valuation: VCMC's valuation with its range, from a low to a high scenario; a company with no valuation shows a dash, one acquired after its last round its last value as a private company.
Activity
How TPG invests: stages, industries and countries
Most of its rounds are Series C and later (75%). Its companies span 52 industries, most in Tech Companies, Pharmaceutical Products and Solar Energy Company, across 16 countries.
Rounds by stage
- Seed 3
- Series A 11
- Series B 22
- Series C and later 106
Investments by industry
- Tech Companies 45
- Pharmaceutical Products 5
- Solar Energy Company 4
- Biotechnology 3
- Banks & ATMs 2
- Batteries 2
- Food Production 2
- Loans & Financing 2
Investments by country
- United States 81
- India 12
- Brazil 4
- United Kingdom 4
- Germany 2
- Canada 1
Recent rounds
TPG's latest investments
TPG's most recent funding rounds, newest first. 12 rounds in the last 12 months.
- Crusoe Series F $3.90B 17 Sep 2026
- Series C $123M 16 Sep 2026
- Databricks Growth $5.00B 13 Aug 2026
- Form Energy Series G $750M 12 Aug 2026
- Series D, led $65M 7 Jul 2026
- Growth, led $100M 16 Apr 2026
- Series C $75M 14 Apr 2026
- Cambridge Mobile Telematics Growth, led $350M 24 Mar 2026
- Anthropic Series G $30.00B 12 Feb 2026
- Series F $35M 9 Dec 2025
Co-investors
TPG's top co-investors
The investors that most often join the same rounds as TPG. Norwest leads, with 12 rounds together.
- Norwest 12 rounds together
- Insight Partners 9 rounds together
- Temasek 7 rounds together
- Goldman Sachs 7 rounds together
- Coatue 7 rounds together
- Andreessen Horowitz 7 rounds together
- Blackstone 7 rounds together
- Lightspeed Venture Partners 6 rounds together
- Venrock 6 rounds together
- GIC 6 rounds together
About
About TPG
TPG Inc. is an American alternative asset management company that operates multiple investment platforms, including private equity, impact investing, credit, real estate, and market solutions. The company manages investment funds focused on growth capital, venture capital, public equity, and debt investments, and provides investment products such as growth capital, leveraged buyouts, and venture capital. TPG serves clients in sectors including consumer and retail, media and telecommunications, industrials, technology, travel, leisure, and health care, and has a global presence with operations in the Americas, Asia, Europe, and Australia.
Description from Veridion's company data.
- Founded
- 1992
- Based in
- Fort Worth, United States
- Team
- 2,892 people, -3% in a year
- Type
- Venture capital firm
Focus markets
- Financial Services
- Real Estate
- Healthcare
- Technology
- Media and Telecommunications
- Consumer and Retail
- Industrial
- Travel and Leisure
What TPG offers
- Alternative Asset Management Services
- Private Equity Investment Management
- Growth Capital Investment Management
- Venture Capital Investment Management
- Leveraged Buyout Investment Management
- Credit Investment Management
- Real Estate Investment Management
- Market Solutions Investment Management
Questions
TPG: frequently asked questions
How many companies has TPG invested in?
114 venture-backed companies on VCMC, across 142 funding rounds.
What are TPG's most valuable private companies?
Anthropic ($1.09T), OpenAI ($374.6B), Databricks ($193.6B), by VCMC's valuation.
What was TPG's latest investment?
Crusoe, a Series F round in Sep 2026 of $3.90B.
Which stages does TPG invest in?
TPG invests most often at Series C and later (106 rounds), followed by Series B (22) and Series A (11). It has also joined 3 seed rounds.
What is TPG's portfolio worth?
Its private companies with a VCMC valuation are worth $1.93T together. That is the sum of the companies' values, not what TPG owns.
Who does TPG invest alongside?
Norwest (12 rounds), Insight Partners (9 rounds), Temasek (7 rounds).