United States · Investor

TCG Crossover

Last cheque observed Oct 2026; 60 cheques on record.

Deploying nowNew fund $800M, Jun 2025VC firm

SeedSeries ASeries BWell-beingTherapeuticsDrugs

Deploying now
91%of best year30cheques in 12 months, 60 on record
Since the last cheque8days00hrs00min00sec
Median round$150MRounds led4 of 60Mostly inUnited States, 77%
Pitch TCG Crossover

TCG Crossover highlights

  1. 01

    30 cheques in the last 12 months

  2. 02

    Mostly Series B and Series C: 64% of its rounds

  3. 03

    Led 4 rounds

What they do

TCG Crossover (“TCGX”) is a science-driven investment firm dedicated to advancing disruptive medicinesFrom their own website
Type
VC firm
Cheque size
Not stated
Stages
SeedSeries ASeries BGrowthPre-IPO
Sectors
Well-beingTherapeuticsDrugs
Based in
Palo Alto, United States
Cold pitches
Not stated

The record

Every round we can evidence, newest first60 appearances

  1. 2026

    25 rounds

  2. Oct
    Zai LabCN · Pulse 2.0$250MLed
  3. Oct
    ADC TherapeuticsCH · Pulse 2.0$87MWith 3 others
  4. Oct
  5. Sept
    Tyra BiosciencesUS$400MWith 5 others
  6. Sept
    AN2 TherapeuticsGrant · US$40MWith 4 others
  7. Aug
  8. Jul
    LB PharmaceuticalsUS$150MWith 2 others
  9. Jun
    Ollin BiosciencesSeries B · US$330MWith 4 others
  10. Jun
    Mineralys TherapeuticsDebt · US$500MWith 5 others
  11. May
    Accro BioscienceSeries C · CN · Ventureburn$50MWith 5 others
  12. May
    Mirum PharmaceuticalsDebt · US$600MWith 3 others
  13. May
    Avalo TherapeuticsUS$431MWith 3 others
  14. May
    AbivaxFR$45MWith 4 others
  15. Apr
    AdcendoSeries C · DK · Ventureburn$75MWith 9 others
  16. Apr
    Maze TherapeuticsUS$150MWith 5 others
  17. Apr
    ValnevaFR$43MWith 4 others
  18. Mar
    InhibrxDebt · US$75MWith 4 others
  19. Mar
    Vor BiopharmaUS$75MWith 2 others
  20. Feb
    Perspective TherapeuticsUS$175MWith 2 others
  21. Feb
    Immunic TherapeuticsUS$400MWith 5 others
  22. Feb
    LB PharmaceuticalsUS$100MWith 1 other
  23. Jan
    CORXEL PharmaceuticalsSeries D$287MWith 5 others
  24. Jan
    Mirador TherapeuticsSeries B · US$250MWith 6 others
  25. Jan
    Beacon TherapeuticsSeries C · US$75MWith 4 others
  26. Jan
    Century TherapeuticsUS$135MWith 7 others
  27. 2025

    19 rounds

  28. Dec
    ImmunovantUS$550MWith 1 other
  29. Dec
    Mirum PharmaceuticalsUS$69MWith 3 others
  30. Dec
    Structure TherapeuticsUS$748MWith 6 others
  31. Dec
    Athira PharmaUS$90MWith 4 others
  32. Nov
    Cogent BiosciencesDebt · US$200MWith 6 others
  33. Oct
    Affinia TherapeuticsSeries C · US$40MWith 5 others
  34. Oct
    Disc MedicineUS$225MWith 5 others
  35. Oct
    Cidara TherapeuticsGrant · US$339MWith 5 others
  36. Oct
    ADC TherapeuticsCH$60MWith 3 others
  37. Oct
    Rapt TherapeuticsUS$250MWith 6 others
  38. Sept
    Maze TherapeuticsUS$150MWith 4 others
  39. Sept
    Korsana BiosciencesSeries A · US$150MWith 5 others
  40. Sept
    Mineralys TherapeuticsUS$288MWith 5 others
  41. Aug
    PlexiumSeries C · US$60MWith 7 others
  42. Jul
    AbivaxFR$748MWith 3 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

The team

Named by the firm itself, on a filing, its Form ADV or its company registration2 named

CMChen Ming YuManaging Member of the General PartneriFiling they signed
CDCraig David SkalingChief Operating Officer and Chief Compliance OfficeriForm ADV

We also hold 12 people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

What the register says

From the firm's own filings with the SEC, which it must file accurately by law

$5.1Bassets it managesOct 2026
Registeredinvestment adviserfull reporting to the SEC
Legal name
TCG Crossover Management, LLC
SEC number
CRD 311718

Funds on its Form ADV

2 private funds, $2.2B in gross assets · filed Mar 2024

  1. TCG Crossover Fund I, L.P.Hybrid fund80 investors$1.3B
  2. TCG Crossover Fund II, L.P.Hybrid fund98 investors$892M

What they claim to have backed

From their own portfolio page (on their website)

13 of 17 we have independently watched raise

AdcendoAktisoncologyArborArtiospharmaCarmotCgoncologyPlexiumRayzebioSynthekineTourmalinebioUpstreambioVersanisbioVicebioAlkeuspharmaKorsanaOllinShoutipharma

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

Who they invest alongside

The investors most often in the same rounds as TCG Crossover. A count of rooms they were both in, not a relationship either has claimed.

Recently backed

The latest companies TCG Crossover put money into.

Quick answers about TCG Crossover

What does TCG Crossover invest in?

TCG Crossover invests most often at Series B and Series C (64% of the rounds on record), in sectors such as Well-being, Therapeutics and Drugs.

How active is TCG Crossover?

60 investments on record, 30 of them in the last 12 months, and it led 4. The most recent was in Oct 2026.

What has TCG Crossover invested in recently?

Its most recent investments on record: Zai Lab (Undisclosed round, Oct 2026), ADC Therapeutics (Undisclosed round, Oct 2026) and TriGemX Bio (Undisclosed round, Oct 2026).

How big are TCG Crossover's cheques?

The median round it joins is $150M.

Does TCG Crossover lead rounds?

Sometimes: it led 4 of its 60 investments on record (7%).

Where does TCG Crossover invest?

Most of the companies it backs are in the United States (77%), Switzerland (8%) and France (8%).

Is TCG Crossover investing now?

Yes: it is actively investing, with 30 investments in the last 12 months.

Who does TCG Crossover invest alongside?

Most often TCG (56 rounds together), RA Capital Management (21 rounds together) and Janus Henderson Investors (14 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. How we count · Report a correction · Is this your firm? Claim it