TCG Crossover Secures $1.3 Billion in Third Fund, Bolstering Life Sciences Investment

TCG Crossover (TCGX), a prominent bicoastal life sciences investment firm, has successfully closed its third fund, raising $1.3 billion and bringing its total capital to an impressive $3.1 billion. This latest financial milestone, announced on October 6, 2025, underscores the firm's growing influence in the biotechnology investment landscape and its commitment to backing innovative healthcare companies.

Fund III Exceeds Expectations

The newly secured $1.3 billion fund, supported by a mix of returning and new investors, surpasses the firm's previous fund, which closed in January 2024 with $1 billion. This significant increase in capital reflects the strong confidence investors have placed in TCGX's investment strategy and team.

Dr. Chen Yu, founder and managing partner of TCGX, emphasized the importance of this achievement, stating, "Exceeding our target for Fund III highlights the deep trust and conviction our investors have placed in our team and approach. We remain steadfast in our mission to back visionary entrepreneurs and companies advancing disruptive medicines to improve patient outcomes."

TCGX's Investment Track Record

Since its inception in February 2021, TCGX has established itself as a key player in high-profile biotech fundraising efforts. The firm's portfolio includes investments in several groundbreaking companies:

• Arbor Biotechnologies: TCGX led a $215 million Series B round.
• Candid Therapeutics: Backed the substantial $370 million launch of this company, founded by former RayzeBio CEO Ken Song, M.D.
• Tourmaline Bio: Supported this cardio startup, which recently sold a repurposed Pfizer asset to Novartis for $1.4 billion.
• Adcendo: Participated in a $135 million Series B round for this Danish biotech developing antibody-drug conjugates for high-unmet-need cancers.

Leadership Changes and Future Outlook

Alongside the fund announcement, TCGX revealed the promotion of Giuliano Marostica to managing partner. Dr. Yu praised Marostica's contributions, noting, "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."

As TCGX continues to grow its capital base and strengthen its leadership team, the firm is well-positioned to maintain its role as a significant force in life sciences investment, potentially shaping the future of biotechnology and pharmaceutical development.