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Investor profile

TPG

Private Equity · Founded 1992 · San Francisco, United States

A global private investment firm

207 portfolio companies Private Equity · $167B invested · 389 investments · Investor rank #18 · Last investment 8/2026
Portfolio companies 207 ↑ 30% 5y
Decacorns 35 ↑ 21% 5y
Thoroughbreds 69 ↑ 22% 5y
01 · Biggest holdings

TPG’s biggest current holdings.

The most valuable companies TPG still holds — unicorns and thoroughbreds it has backed, ordered by Dealroom’s latest valuation. Companies that have been acquired or gone public are in Exits instead. Where a cap table names TPG directly, the stake and its estimated value are shown too.

#CompanyEst. stakeValuationEst. value
  1. 1 AnthropicCenticorn · Enterprise Software · USA $965B
  2. 2 OpenAICenticorn · Enterprise Software · USA $852B
  3. 3 Vast DataDecacorn · Enterprise Software · USA $30.0B
  4. 4 VintedUnicorn · Fashion · Lithuania 4.5% $9.4B $424M
  5. 5 TaniumUnicorn · Security · USA 10% $9.0B $900M
  6. 6 ZiplineUnicorn · Robotics · USA $7.6B
  7. 7 Dream11Unicorn · Gaming · India 5.5% $7.3B $402M
  8. 8 Course HeroUnicorn · Education · USA $3.6B
  9. 9 Age of LearningUnicorn · Gaming · USA $3.0B
  10. 10 Varo MoneyUnicorn · Fintech · USA $2.5B
  11. 11 EnpalUnicorn · Energy · Germany 11.5% $2.5B $285M
  12. 12 Project44Unicorn · Transportation · USA $2.2B

Estimated value = TPG’s disclosed ownership % × Dealroom’s latest company valuation; direct named stakes only, exited positions excluded. Figures are indicative, not reported marks. TPG also appears inside investor groups in Course Hero, Human Interest, Tarana Wireless, Varo Money, Vast Data, Zipline, where a standalone stake isn’t disclosed. See the underlying cap tables on Dealroom →

02 · Exits

TPG’s biggest exits.

Portfolio companies that IPO’d or were acquired at $1B+, with the valuation recorded at exit and — for those still public — their value today. Exit events come from each company’s funding-round history; entry stage from TPG’s transaction record.

Seagate Technology
IPO · 2002
Now $186BSemiconductors
$82B IPO · 2019
Entered Series B+Now $163BFood
Tata Consultancy Services
IPO · 2004
Now $116BEnterprise Software
$47B IPO · 2020
Entered Series B+Now $97BTravel
$30B IPO · 2018
Now $90BMusic
United Airlines
IPO · 2006
Now $59BTravel
Shriram Finance
IPO · 1999
Now $55BTransportation
IQVIA
IPO · 2013
Entered Series B+Now $53BHealth
Lenovo
IPO · 2000
Now $42BHome Living
$1.9B IPO · 2018
Entered Series B+Now $26BSecurity
Norwegian Cruise Line
IPO · 2013
Now $24BTravel
Airtel Africa
$89M IPO · 2019
Now $21BTelecom
03 · Portfolio analysis

Where TPG’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 207 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. USA288
  2. India43
  3. China24
  4. Australia14
  5. UK13
  6. Canada7
  7. Brazil5
  8. Hong Kong5
  9. Israel5
  10. Germany4
  11. South Korea4
  12. Cuba3
By sectorCount
  1. Health119
  2. Enterprise Software65
  3. Fintech50
  4. Food33
  5. Energy31
  6. Media25
  7. Transportation22
  8. Real Estate21
  9. Marketing18
  10. Education14
  11. Wellness Beauty14
  12. Security13
By stage enteredCount
  1. Series B+193
  2. Series A37
  3. Seed2
By growth stageCount
  1. Late Growth219
  2. Mature92
  3. Breakout Stage81
  4. Early Growth58
04 · Portfolio market map

Inside TPG’s portfolio.

The 60 highest-funded portfolio companies, of 207 tracked.

OpenAI
Enterprise Software · Centicorn
$852B
Anthropic
Enterprise Software · Centicorn
$965B
Uber
Food · Centicorn
$163B
Reliance Jio
Telecom · Centicorn
$115B
Airbnb
Travel · Decacorn
$97B
NIO
Energy · Decacorn
$11B
Zipline
Robotics · Unicorn
$7.6B
Spotify
Music · Decacorn
$90B
Du Xiaoman Financial
Fintech · Unicorn
$3.3B
PharmEasy
Health
$710M
Lenskart
Fashion · Decacorn
$13B
Kakao Mobility
Transportation · Unicorn
$4.2B
ServiceTitan
Real Estate · Unicorn
$7.6B
The CrownX (TCX)
Fintech · Unicorn
$8.2B
Dream11
Gaming · Unicorn
$7.3B
Varo Money
Fintech · Unicorn
$2.5B
VICE Media
Media · Unicorn
$5.7B
AvidXchange
Fintech · Unicorn
$1.7B
Uxin Group
Transportation
$529M
Mobike
Transportation · Unicorn
$2.7B
Twelve
Energy · Unicorn
$2.0B
Toast
Fintech · Decacorn
$18B
Project44
Transportation · Unicorn
$2.2B
Cambridge Mobile Telematics
Fintech · Unicorn
$1.4B
Tanium
Security · Unicorn
$9.0B
Odyssey Therapeutics
Health
$724M
Enpal
Energy · Unicorn
$2.5B
STX Entertainment
Media
$173M
Domo
Marketing
$299M
STX Entertainment
Marketing
$173M
Momentive
Marketing · Unicorn
$1.5B
Kaseya
Enterprise Software · Unicorn
$1.8B
OneOncology
Health · Unicorn
$7.4B
Fractal Analytics
Enterprise Software · Unicorn
$2.4B
GRIDSERVE
Energy
TruMid
Fintech · Unicorn
$1.0B
Summit Carbon Solutions
Energy · Unicorn
$1.1B
Saluda Medical
Health
$501M
GreenSky
Fintech
$781M
PropertyGuru
Real Estate · Unicorn
$1.1B
Zenefits
Jobs Recruitment
$200M
Xpressbees
Transportation · Unicorn
$1.4B
Box
Security · Unicorn
$5.2B
Vinted
Fashion · Unicorn
$9.4B
Jana Small Finance Bank
Fintech
$655M
Frontier Car Group
Transportation
$700M
Kajabi
Education · Unicorn
$2.0B
Monogram Health
Health · Unicorn
$1.9B
Allogene Therapeutics
Health
$500M
Fourth Partner Energy
Energy
$280M
DZS
Telecom
$19M
Acorns
Fintech
$514M
Age of Learning
Gaming · Unicorn
$3.0B
RefleXion Medical
Health
$550M
Dingdang Kuaiyao
Health
$880M
Janalakshmi
Fintech
$644M
LivSpace
Real Estate · Unicorn
$1.0B
Course Hero
Education · Unicorn
$3.6B
Anuvia Plant Nutrients
Food
MX Technologies
Fintech · Unicorn
$1.9B
05 · Portfolio founders

Where TPG’s portfolio founders come from.

172 founders across the 100 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount
  1. United States99
  2. India31
  3. China11
  4. Germany7
  5. Israel4
  6. Denmark3
  7. Lithuania2
  8. Sweden2
  9. United Kingdom2
  10. Australia1
UniversityCount
  1. Harvard University9
  2. Massachusetts Institute of Technology8
  3. Stanford University8
  4. Cornell University7
  5. Indian Institute of Management Ahmedabad4
  6. Indian Institute of Technology, Delhi4
  7. University of California, Berkeley4
  8. Indian Institute of Technology, Madras3
  9. Stanford University Graduate School of Business3
  10. University of Southern California3
Previous companyCount
  1. Microsoft6
  2. SumTotal Systems5
  3. Alphabet | Google4
  4. Goldman Sachs4
  5. IBM4
  6. OpenAI4
  7. Endeca3
  8. Stanford University3
  9. ANZ2
  10. GSK2