TCG Labs Soleil Secures $400M for Single-Asset Biotech Ventures, Expands to China

TCG Labs Soleil, a venture firm specializing in single-drug biotechnology startups, has announced a successful $400 million fundraise to bolster its portfolio and expand its research and development capabilities. This latest funding round, matching the firm's inaugural fund from last year, underscores the growing interest in narrowly focused biotech ventures and their potential for rapid development and strategic partnerships.

Strategic Focus on Single-Asset Biotechs

TCG Labs Soleil, operating in collaboration with The Column Group, has developed a unique model that combines venture funding with an in-house R&D hub. This approach allows the firm to make swift, capital-efficient decisions in advancing single-drug programs to clinical proof-of-concept stages, typically occurring in phase 2 trials.

Since its inception in 2023, TCG Labs Soleil has established more than 10 portfolio companies across various therapeutic areas and modalities. Many of these ventures are named after San Francisco streets, reflecting the firm's roots in the biotech hub of South San Francisco.

Peter Svennilson, managing partner at TCG Labs, emphasized the flexibility of their model: "The TCG Labs Soleil model gives us the flexibility and control to invest decisively in the highest-potential single-asset programs, while remaining agile in how and when we engage with biopharma partners."

Global Expansion and Strategic Partnerships

In a significant move to enhance its global presence, TCG Labs Soleil has expanded its R&D capabilities to Shanghai, China. This strategic expansion aims to create a worldwide network supporting both internally developed and externally sourced programs.

The firm's global strategy has already yielded results. In May 2025, Juri Biosciences, one of TCG Labs Soleil's portfolio companies, secured a licensing deal worth up to $210 million with Shanghai-based EpimAb Biotherapeutics for a T cell engager targeting prostate cancer.

Jin-Long Chen, founder of NGM Biopharmaceuticals and former research head at Amgen, who leads TCG Labs Soleil, commented on the firm's progress: "With several programs heading into the clinic, this additional raise reflects both the pace and productivity we've achieved since our inaugural fund, moving programs forward efficiently and opening new opportunities for strategic partnerships."

Industry Context and Future Outlook

The success of TCG Labs Soleil's fundraising efforts comes amid a broader trend of healthcare-focused venture firms securing significant capital. Notable examples include Omega Funds, which recently closed a $647 million fundraise, and Deerfield Management, which announced over $600 million in funding earlier this year.

As the pharmaceutical industry continues to evolve, the model pioneered by TCG Labs Soleil - focusing on capital efficiency and rapid development of single-asset biotechs - may represent a new paradigm in drug development and strategic partnerships. With its expanded global footprint and fresh capital infusion, TCG Labs Soleil is well-positioned to advance its portfolio of innovative therapies across multiple disease areas, potentially reshaping the landscape of biotech startups and pharmaceutical partnerships.