Profile

TPG Growth has a 15-year track record of success in meeting the unique needs of earlier-stage companies, from traditional minority growth investments to growth buyouts and specialty capital. Having launched TPG Growth in 2007, TPG has had the opportunity to partner with some of the most innovative entrepreneurs, founders, and management teams of the past decade and a half. The team brings an established perspective and a differentiated blend of conviction, flexibility, and partnership to growth equity that allows them to invest behind unique opportunities early, particularly in markets that are at points of inflection, disruption, or significant change. TPG Growth also differentiates itself via active business building engagement. Its team takes meaningful ownership stakes in a smaller number of companies, thereby positioning the firm to add value via operational expertise.

Amidst changes in market sentiment, TPG has remained steadfastly focused on profitability and growth, and today, TPG Growth manages $23 billion in assets. Select investments include Airbnb, Beautycounter, C3, Calm, Campus Activewear, GoHealth Urgent Care, Greenhouse, Medical Solutions, MX, Nykaa, People 2.0, Pharmeasy, Spotify, Uber, and Zscaler.

www.tpg.com

Awards

2023 Top Growth Equity Firms

2023 Top Software Investors, Tim Millikin, Mike Zappert

2023 Top Private Equity Firms

2023 Top 25 Healthcare Investors, John Schilling, Zach Ferguson

2022 Top 25 Growth Equity Firms

2022 Top 25 Software Investors, Nehal Raj, Tim Millikin, Mike Zappert

2022 Top 25 Private Equity Firms

2022 Top 25 Healthcare Investors, Jeff Rhodes, Matt Hobart

2021 Top 25 Growth Equity Firms

2021 Top 40 Under 40 Growth Investors, Arun Agarwal, Art Heidrich

2021 Top 25 Software Investors, Nehal Raj, Tim Millikin, Mike Zappert

2021 Top 25 Healthcare Investors, Todd Sisitsky

2020 Top 25 Growth Equity Firms

2020 Top 25 Software Investors, Nehal Raj, Tim Millikin, Mike Zappert

2019 Top 40 Under 40 Growth Investors, Tim Millikin, Mike Zappert

2019 Top 25 Software Investors, Nehal Raj

2018 Top 40 Under 40 Growth Investors, Tim Millikin

2017 Top 40 Under 40 Growth Investors, Nehal Raj

2016 Top 40 Under 40 Growth Investors, Nehal Raj

2015 Top 25 Growth Equity Firms

Key People

Matthew Hobart, Co-Managing Partner

Matthew Hobart is the Co-Managing Partner of TPG Growth, the middle market buyout and growth equity business inside of TPG, and leads the Healthcare investments for both TPG Growth and the Rise Fund. Matthew is currently a board member of GoHealth Urgent Care, Q-Centrix Inc., Asia Healthcare Holdings, Precision Medicine Group, BGB Group, Banyan Treatment Centers, Blue Cloud Pediatric Surgery Centers, Center for Health Education and Access, RefleXion Medical and City of Hope. His previous board service includes Medical Solutions Inc., Evolent Health, NorthStar Anesthesia, Greencross, Cancer Treatment Services International, Schiff Nutrition International, San Francisco University High School and the San Francisco Ballet. Prior to TPG, Matthew made private equity investments in the United States and Europe for Morgan Stanley Capital Partners III L.P. and Morgan Stanley Global Emerging Markets Fund. He holds a BA in Economics from Miami University and an MBA from Stanford University Graduate School of Business.

David Trujillo, Co-Managing Partner

David Trujillo is a TPG Board and Executive Committee member. David joined TPG in January 2006. He is the Co-Managing Partner of TPG Growth, Co-Managing Partner of TPG Tech Adjacencies, and Managing Partner of TPG Digital Media. David leads TPG’s Internet, Digital Media, and Communications investing efforts across the firm. He currently serves as a director on the public boards of TPG, Inc and Uber Technologies, Inc. and on the private boards of Beauty for All Industries (fka Ipsy), Calm, DirecTV, Entertainment Partners, Global Music Rights (GMR), Musixmatch and Prodigy Education. David led TPG’s historic investments in Airbnb, Astound Broadband, Creative Artists Agency (CAA), Lynda.com and Spotify. He has been a private equity investor in the technology, media, and telecom sector for over 25 years, including working at Golder, Thoma, Cressey, Rauner (now known as GTCR, LLC) prior to joining TPG. Mr. Trujillo received a Bachelor of Art in Economics from Yale University and an M.B.A. from the Stanford Graduate School of Business.