PALO ALTO, CALIF. & NEW YORK -- TCG Crossover (“TCGX”) announced the successful closing of its third fund, TCGX Fund III, with $1.3 billion in capital commitments. Fund III attracted support from both current TCGX investors and new institutional investors, foundations, pensions, and endowments. With the close of Fund III, TCGX has now raised more than $3.1 billion in total capital since its founding in 2021.

TCGX Fund III exceeded its initial target, underscoring strong global investor demand. The fundraise marks a significant milestone and is an endorsement of the differentiated strategy and TCGX’s fully flexible mandate to invest across both private and public markets.

“Exceeding our target for Fund III highlights the deep trust and conviction our investors have placed in our team and approach,” said Dr. Chen Yu, Founder and Managing Partner of TCGX. “We remain steadfast in our mission to back visionary entrepreneurs and companies advancing disruptive medicines to improve patient outcomes.”

“We are grateful to our investors for their support and appreciate the hard work from our portfolio company operators to enable this accomplishment. With Fund III, we look forward to investing in the next generation of biotechs developing transformative therapies for patients,” said Cariad Chester, Managing Partner at TCGX.

As part of this milestone, TCGX is proud to announce the promotion of Giuliano Marostica to Managing Partner. “Giuliano was the first team member to join me at TCGX, and he has played an integral role in building the firm and bringing tremendous value to our portfolio companies,” said Dr. Yu.

CFO/COO Craig Skaling added, “We are fortunate to have built a world-class team at TCGX. Their commitment and talent drive our ability to scale effectively and partner with companies advancing innovative science.”