TCG Crossover secures $1b for life sciences fund; target was $900m

Life sciences-focused investment firm TCG Crossover (TCGX) has successfully closed its second fund, TCGX Fund II, securing an impressive $1 billion in capital, surpassing the initial hard cap of $900 million. The funding round garnered substantial backing from both new and existing limited partners, with commitments pouring in globally from investors across North America, Europe, the Middle East, and Asia.

TCGX, known for its fully flexible mandate allowing investments in both private and public companies, had previously launched its inaugural fund, TCGX Fund I, in February 2021. The debut fund demonstrated a notable track record, marked by successful M&A activities and IPOs. TCGX focuses its investments on innovative drug discovery companies dedicated to making a meaningful impact on patient outcomes.