# TCG: portfolio, investments and team > TCG is a private equity based in United States. 109 investments on record, 31 in the last 12 months, latest Sept 2026. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/tcg (Millionrounds; every figure on the page links to its filing or article) United States · [Investor](https://millionrounds.com/investors) # TCG Last cheque observed Sep 2026; 109 cheques on record. Email Deploying now New fund $643M, Jan 2024 Private equity Website unconfirmed Growth Sports Media Content Follow TCG and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Ftcg) Deploying now **82%** of best year **31** **cheques in 12 months**, 109 on record Since the last cheque **60** days **00** hrs **00** min **00** sec Median round **$75M** Cheque size, as they say **$10M – $100M** Rounds led **1 of 109** Sole investor **8 rounds** Exits **1 from the portfolio** Mostly in **United States, 87%** Pitch TCG ## TCG highlights - 01 31 cheques in the last 12 months - 02 Mostly Seed and Series A: 48% of its rounds - 03 Sole investor in 8 rounds, median $39M - 04 1 exits from the portfolio ## What they do - **Type:** Private equity (from a list, unverified) - **Cheque size:** $10M – $100M as they say - **Stages:** Growth - **Sectors:** Sports Media Content - **Based in:** Los Angeles, United States - **Cold pitches:** Not stated A website was listed for this organisation, but we could not confirm it belongs to the firm that wrote these cheques. Either the site never mentions them, or it turned out to be a different company sharing the name. We show neither it nor anything read from it. [Tell us the right one](https://millionrounds.com/corrections?slug=tcg). ## The record Every round we can evidence, newest first **109 appearances** - **2026** 26 rounds - **Sept** **[AN2 Therapeutics](https://millionrounds.com/company/an2-therapeutics)** Grant · US **$40M** With 4 others - **Sept** **[Tyra Biosciences](https://millionrounds.com/company/tyra-biosciences)** US **$400M** With 5 others - **Aug** **[Vaderis Therapeutics](https://millionrounds.com/company/vaderis-therapeutics)** Series B · CH · Firms' own news pages **$152M** With 8 others - **Jul** **[LB Pharmaceuticals](https://millionrounds.com/company/lb-pharmaceuticals)** US **$150M** With 2 others - **Jul** **[Jia](https://millionrounds.com/company/jia)** Debt · US **$2.0M** With 3 others - **Jun** **[Ollin Biosciences](https://millionrounds.com/company/ollin-biosciences)** Series B · US **$330M** With 4 others - **Jun** **[Premier Lacrosse League](https://millionrounds.com/company/premier-lacrosse-league)** Series E · US **$100M** With 2 others - **Jun** **[Mineralys Therapeutics](https://millionrounds.com/company/mineralys-therapeutics)** Debt · US **$500M** With 5 others - **May** **[Avalo Therapeutics](https://millionrounds.com/company/avalo-therapeutics)** US **$431M** With 3 others - **May** **[Abivax](https://millionrounds.com/company/abivax)** FR **$45M** With 4 others - **May** **[Mirum Pharmaceuticals](https://millionrounds.com/company/mirum-pharmaceuticals)** Debt · US **$600M** With 3 others - **Apr** **[Adcendo](https://millionrounds.com/company/adcendo)** Series C · DK · Ventureburn **$75M** With 9 others - **Apr** **[Maze Therapeutics](https://millionrounds.com/company/maze-therapeutics)** US **$150M** With 5 others - **Apr** **[Real Sports App](https://millionrounds.com/company/real-sports-app)** Venture · US **$12M** With 1 other - **Apr** **[Valneva](https://millionrounds.com/company/valneva)** FR **$43M** With 4 others - **Mar** **[Inhibrx](https://millionrounds.com/company/inhibrx)** Debt · US **$75M** With 4 others - **Mar** **[Vor Biopharma](https://millionrounds.com/company/vor-biopharma)** US **$75M** With 2 others - **Feb** **[LB Pharmaceuticals](https://millionrounds.com/company/lb-pharmaceuticals)** US **$100M** With 1 other - **Feb** **[Perspective Therapeutics](https://millionrounds.com/company/perspective-therapeutics)** US **$175M** With 2 others - **Feb** **[Night](https://millionrounds.com/company/night)** Growth · US · Firms' own news pages **$70M** With 5 others - **Feb** **[Immunic Therapeutics](https://millionrounds.com/company/immunic-therapeutics)** US **$400M** With 5 others - **Jan** **[CORXEL Pharmaceuticals](https://millionrounds.com/company/corxel-pharmaceuticals)** Series D **$287M** With 5 others - **Jan** **[Century Therapeutics](https://millionrounds.com/company/century-therapeutics)** US **$135M** With 7 others - **Jan** **[Beacon Therapeutics](https://millionrounds.com/company/beacon-therapeutics)** Series C · US **$75M** With 4 others - **Jan** **[Mirador Therapeutics](https://millionrounds.com/company/mirador-therapeutics)** Series B · US **$250M** With 6 others - **Jan** **[Dave](https://millionrounds.com/company/dave)** Venture · US **Undisclosed** With 5 others - **2025** 24 rounds - **Dec** **[Athira Pharma](https://millionrounds.com/company/athira-pharma)** US **$90M** With 4 others - **Dec** **[Structure Therapeutics](https://millionrounds.com/company/structure-therapeutics)** US **$748M** With 6 others - **Dec** **[Immunovant](https://millionrounds.com/company/immunovant)** US **$550M** With 1 other - **Dec** **[Mirum Pharmaceuticals](https://millionrounds.com/company/mirum-pharmaceuticals)** US **$69M** With 3 others - **Nov** **[Cogent Biosciences](https://millionrounds.com/company/cogent-biosciences)** Debt · US **$200M** With 6 others - **Oct** **[Cidara Therapeutics](https://millionrounds.com/company/cidara-therapeutics)** Grant · US **$339M** With 5 others - **Oct** **[Rapt Therapeutics](https://millionrounds.com/company/rapt-therapeutics)** US **$250M** With 6 others - **Oct** **[Affinia Therapeutics](https://millionrounds.com/company/affinia-therapeutics)** Series C · US **$40M** With 5 others - **Oct** **[ADC Therapeutics](https://millionrounds.com/company/adc-therapeutics)** CH **$60M** With 3 others - **Oct** **[Disc Medicine](https://millionrounds.com/company/disc-medicine)** US **$225M** With 5 others - **Sept** **[Maze Therapeutics](https://millionrounds.com/company/maze-therapeutics)** US **$150M** With 4 others - **Sept** **[Mineralys Therapeutics](https://millionrounds.com/company/mineralys-therapeutics)** US **$288M** With 5 others - **Sept** **[Korsana Biosciences](https://millionrounds.com/company/korsana-biosciences)** Series A · US **$150M** With 5 others - **Aug** **[Plexium](https://millionrounds.com/company/plexium)** Series C · US **$60M** With 7 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 registration **12 named** AD **Adam DiMartino** Manager of TCG Fund I GP, LLC, General Partner i Filing they signed JB **Jason Bergsman** Executive Officer i Filing they signed JA **Jesse Arlo Jacobs** Executive Officer, Director i Filing they signed LR **Lauren Ray Goldberg** General Counsel & Chief Compliance Officer i Form ADV MS **Maarten Schipper** Manager of TCG Fund I GP, LLC, General Partner i Filing they signed MD **Marco DeMeireles** Executive Officer i Filing they signed MS **Mark Samir Kamal** Chief Financial Officer i Form ADV MV **Menno van Lacum** Manager of TCG Fund I GP, LLC, General Partner i Filing they signed MJ **Mike John Kerns** Executive Officer, Director i Filing they signed MA **Milt Anderson** Manager of TCG Fund I GP, LLC, General Partner i Filing they signed PA **Peter Allan Chernin** Executive Officer, Director i Filing they signed RR **Roland Rutgers** Manager of TCG Fund I GP, LLC, General Partner i Filing they signed We also hold **36** 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 **$2.6B** assets it manages Oct 2026 **Registered** investment adviser full reporting to the SEC - **Legal name:** TCG Capital Management, LP - **SEC number:** CRD 298007 Funds on its Form ADV **13** private funds, **$2.4B** in gross assets · filed Mar 2024 - TCG 3.0-A, L.P. *Private equity* 254 investors $634M - TCG 3.0-B, L.P. *Private equity* 68 investors $598M - TCG 2.0-A, L.P. *Private equity* 77 investors $573M - TCG 2.0-B, L.P. *Private equity* 5 investors $323M - TCG Crypto-A, L.P. *Private equity* 61 investors $91M - TCG 3.0 Lovevery, L.P. *Private equity* 3 investors $75M - TCG 3.0 FUJI Co-Invest, L.P. *Private equity* 6 investors $48M - TCG 3.0 Co-Invest, L.P. *Private equity* 1 investor $20M - TCG Crypto-B, L.P. *Private equity* 20 investors $8.9M - TCG 2.0 EIV Meateater, LLC *Private equity* 7 investors $530K And 3 more on the filing. ## What they claim to have backed From their own portfolio page (on their website) **34** of 60 we have independently watched raise [Action Network exited](https://millionrounds.com/company/the-action-network)[Audiochuck](https://millionrounds.com/company/audiochuck)[Baobab Studios](https://millionrounds.com/company/baobab-studios)[Barstool Sports exited](https://millionrounds.com/company/barstool-sports)[Brilliant](https://millionrounds.com/company/brilliant)[Dadi](https://millionrounds.com/company/dadi)[Dapper Labs Exited](https://millionrounds.com/company/dapper-labs)[Drivetime](https://millionrounds.com/company/drivetime)[Embrace](https://millionrounds.com/company/embrace)[Epic Gardening](https://millionrounds.com/company/epic-gardening)[Everlywell](https://millionrounds.com/company/everlywell)[Exploding Kittens Exited](https://millionrounds.com/company/exploding-kittens)[Flipboard](https://millionrounds.com/company/flipboard)[Flipside Crypto](https://millionrounds.com/company/flipside-crypto)[Homeis exited](https://millionrounds.com/company/homeis)[Hooked](https://millionrounds.com/company/hooked)[Lovevery](https://millionrounds.com/company/lovevery)[Next Health](https://millionrounds.com/company/nexthealth)[OpenSea](https://millionrounds.com/company/opensea)[Oura](https://millionrounds.com/company/oura)[Papa](https://millionrounds.com/company/papa)[Parsley Health](https://millionrounds.com/company/parsley-health)[Premier Lacrosse League](https://millionrounds.com/company/premier-lacrosse-league)[Scopely exited](https://millionrounds.com/company/scopely)[Shinesty](https://millionrounds.com/company/shinesty)[ShopShops Exited](https://millionrounds.com/company/shopshops)[Sketchy](https://millionrounds.com/company/sketchy)[Sofar Sounds](https://millionrounds.com/company/sofar-sounds)[Stadium Goods exited](https://millionrounds.com/company/stadium-goods)[Stoggles](https://millionrounds.com/company/stoggles)[The Sill](https://millionrounds.com/company/the-sill)[Vuori](https://millionrounds.com/company/vuori)[Wthn](https://millionrounds.com/company/wthn)[Zola](https://millionrounds.com/company/zola) BallerTV Base79 exited Better Place Forests exited BiggerPockets Bloomlife Brat Buffy exited Cameo Cars & Bids Classic Football Shirts Collectors Crunchyroll exited Dave exited Doppler Labs Exited Draft exited Entangled Publishing Equip Food52 Exited Found Fullscreen exited Funko Goalhanger Goldin Goldin Auctions exited Headspace Health Hello Sunshine exited and 28 more 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. ## Exits from the portfolio Companies it backed that were later bought or listed **1 in all** **[Fullscreen](https://millionrounds.com/company/fullscreen)** Bought by [Otter Media](https://millionrounds.com/fund/otter-media) **Undisclosed** Sept 2014 An exit counts when it came after the firm's first round in the company. From historical deal records. New fund on file **$643M** raised in Jan 2024 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Growth Median round joined **$75M** the round, not its cheque Alone, median **$39M** Led 1 of 109 rounds **1%** - **Said size:** $10M – $100M - **Sole investor:** 8 rounds - **Last cheque:** Sept 2026 - **Exits:** 1 from the portfolio Rounds by stage said on their site - Seed *15* - Series A *14* - Venture *13* - Series B *10* - Series C *9* - Growth said *-* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [TCG Crossover](https://millionrounds.com/fund/tcg-crossover) 56 - [RA Capital Management](https://millionrounds.com/fund/ra-capital-management) 20 - [Janus Henderson Investors](https://millionrounds.com/fund/janus-henderson-investors) 14 - [OrbiMed](https://millionrounds.com/fund/orbimed) 12 - [Perceptive Advisors](https://millionrounds.com/fund/perceptive-advisors) 9 - [Vivo Capital](https://millionrounds.com/fund/vivo-capital) 9 **Pitching TCG?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as TCG. A count of rooms they were both in, not a relationship either has claimed. [**TCG Crossover** VC firm **56** rounds together](https://millionrounds.com/fund/tcg-crossover)[**RA Capital Management** Private equity **20** rounds together](https://millionrounds.com/fund/ra-capital-management)[**Janus Henderson Investors** Private equity **14** rounds together](https://millionrounds.com/fund/janus-henderson-investors)[**OrbiMed** Private equity **12** rounds together](https://millionrounds.com/fund/orbimed)[**Perceptive Advisors** Asset manager **9** rounds together](https://millionrounds.com/fund/perceptive-advisors)[**Vivo Capital** Private equity **9** rounds together](https://millionrounds.com/fund/vivo-capital)[**Wellington Management** VC firm **8** rounds together](https://millionrounds.com/fund/wellington-management)[**RTW Investments LLC** Growth equity **7** rounds together](https://millionrounds.com/fund/rtw-investments-lp)[**Samsara BioCapital** VC firm **7** rounds together](https://millionrounds.com/fund/samsara-biocapital)[**Adage Capital Management** Asset manager **6** rounds together](https://millionrounds.com/fund/adage-capital-management)[**Coinbase Ventures** Corporate VC **6** rounds together](https://millionrounds.com/fund/coinbase)[**Novo Holdings** VC firm **6** rounds together](https://millionrounds.com/fund/novo-ventures) ## Recently backed The latest companies TCG put money into. [**AN2 Therapeutics** $40M · Sept 2026](https://millionrounds.com/company/an2-therapeutics)[**Tyra Biosciences** $400M · Sept 2026](https://millionrounds.com/company/tyra-biosciences)[**LB Pharmaceuticals** $150M · Jul 2026](https://millionrounds.com/company/lb-pharmaceuticals)[**Jia** $2.0M · Jul 2026](https://millionrounds.com/company/jia)[**Ollin Biosciences** $330M · Jun 2026](https://millionrounds.com/company/ollin-biosciences)[**Premier Lacrosse League** $100M · Jun 2026](https://millionrounds.com/company/premier-lacrosse-league) ## Quick answers about TCG ### What does TCG invest in? TCG invests most often at Seed and Series A (48% of the rounds on record), in sectors such as Sports, Media and Content. ### How active is TCG? 109 investments on record, 31 of them in the last 12 months, and it led 1. The most recent was in Sept 2026. ### What has TCG invested in recently? Its most recent investments on record: AN2 Therapeutics (Grant, Sept 2026), Tyra Biosciences (Undisclosed round, Sept 2026) and Vaderis Therapeutics (Series B, Aug 2026). ### How big are TCG's cheques? The median round it joins is $75M. It says it writes cheques of $10M to $100M. ### Does TCG lead rounds? Sometimes: it led 1 of its 109 investments on record (1%). ### Where does TCG invest? Most of the companies it backs are in the United States (87%), Switzerland (5%) and France (5%). ### Is TCG investing now? Yes: it is actively investing, with 31 investments in the last 12 months. ### Who does TCG invest alongside? Most often TCG Crossover (56 rounds together), RA Capital Management (20 rounds together) and Janus Henderson Investors (14 rounds together). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=tcg) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=tcg)