About TCG Crossover
TCG Crossover is a venture capital firm founded in 2020. It is primarily based out of Palo Alto, United States. As of May 2026, TCG Crossover is an active investor, having invested in 43 companies, with 8 new investments in the last 12 months. It primarily invests in Series B round in United States based startups. Its investments are spread across a wide range of sectors from Life Sciences to Enterprise Applications and High Tech. Most recently it participated in the $***** Series D round of Mentari Overall, TCG Crossover portfolio has seen 13 IPOs and 11 acquisitions including key companies like Century Therapeutics, Upstream Bio and Maze Therapeutics. A lot of funds co-invest with TCG Crossover, with names like RA Capital Management sharing a substantial percentage of its portfolio. TCG Crossover has team of 14 people including 4 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series B, Post IPO & 4 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Soonicorns
Deals in last 12 months
TCG Crossover's List of Top Investments
TCG Crossover has a portfolio of 43 companies. Their most notable investments are in RAPT and Plexium.Their portfolio spans across United States, China, United Kingdom and 3 more locations. They have invested in Life Sciences, Enterprise Applications, High Tech and 2 other sectors, across stages such as Series B, Post IPO and 4 more. Here is the list of top investments by TCG Crossover:
Developer of therapeutics for the treatment of autoimmune diseases and cancer. The company's iPSC-derived cell therapy platform that integrates cutting-edge gene editing, protein engineering, technical development and manufacturing capabilities to generate allogeneic, iPSC-derived therapies for autoimmune diseases and cancer.
Key facts about Century Therapeutics
- Founded Year: 2018
- Location: Philadelphia (United States)
- Annual Revenue: $100M - $500M as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $410M
- Employee Count: 109 as on May 31, 2026
- Investors: Fidelity Investments, RTW Investments and 22 Others
- Latest Funding Round: Post IPO, Jan 08, 2026, $*****
- Highlight: Public
2. Upstream Bio
Developer of therapeutics for allergic and inflammatory diseases. The lead candidate for the company UPB-101 is a monoclonal antibody that inhibits the TSLP receptor that affects a variety of immune cells pivotal to many inflammatory diseases.
Key facts about Upstream Bio
- Founded Year: 2021
- Location: Waltham (United States)
- Annual Revenue: $1M - $10M as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $400M
- Employee Count: 76 as on May 31, 2026
- Investors: Access Industries, HBM Healthcare Investments and 11 Others
- Latest Funding Round: Series B, Jun 08, 2023, $*****
- Highlight: Public
Maze Therapeutics is involved in developing genetic biomarkers. The company is developing technologies in an integrated manner to identify genetic modifiers. It mainly focuses on genetic modifiers in neurological, metabolic and renal diseases, as well as oncology.
Key facts about Maze Therapeutics
- Founded Year: 2018
- Location: Redwood City (United States)
- Stage: Public
- Total Funding till date: $496M
- Employee Count: 153 as on May 31, 2026
- Investors: Janus Henderson Investors, Foresite Capital and 21 Others
- Latest Funding Round: Post IPO, Sep 11, 2025, $*****
- Highlight: Public
4. CG Oncology
GC Oncology develops immunotherapeutic agents for treating cancer. The agents CG0070 is a modified adenovirus type 5 (Ad5) carrying an E2F-1 promoter upstream of an E1A promoter, and the gene for GM-CSF. The modification enables the virus to selectively target and replicate in cancer cells. The T cells are then able to circulate throughout the body, recognizing and attacking residual cancer.
Key facts about CG Oncology
- Founded Year: 2010
- Location: Irvine (United States)
- Annual Revenue: $1M - $10M as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $318M
- Employee Count: 191 as on May 31, 2026
- Investors: Janus Henderson Investors, Foresite Capital and 16 Others
- Latest Funding Round: Series E, Aug 01, 2023, $*****
- Highlight: Public
Developer of radiopharmaceuticals for solid tumor cancers. The company had developed platforms to generate tumor-targeting agents for radiotherapy that are designed for high tumor penetration and long residence time. The therapeutic radioisotope molecules developed eliminates tumors from the body and minimize the side effects.
Key facts about Aktis Oncology
- Founded Year: 2021
- Location: Boston (United States)
- Stage: Public
- Total Funding till date: $336M
- Employee Count: 93 as on May 31, 2026
- Investors: Janus Henderson Investors, RTW Investments and 16 Others
- Latest Funding Round: Series B, Sep 20, 2024, $*****
- Highlight: Public
TCG Crossover's Year-on-Year Investment Trends
TCG Crossover has invested in 43 companies over the last 5 years, with an average of 7 new investments annually in the last 5 years. In 2025, it made 2 investments, while as of May 2026, it has made 9 investments in this year. Its most recent first time investment was in Mentari and most recent follow-on round was in Adcendo.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 7 | 2 | 9 |
2025 | 1 | 1 | 2 |
2024 | 13 | 1 | 14 |
2023 | 6 | 2 | 8 |
2022 | 4 | 0 | 4 |
2021 | 9 | 0 | 9 |
TCG Crossover's Investments by Stage
TCG Crossover has made 14 investments in Series B stage with an average round size of $141M, 12 investments in Post IPO stage with an average round size of $148M and 5 investments in Series C stage with an average round size of $144M.Stage of entry | No. of Investments |
|---|---|
Series B | 14 |
Post IPO | 12 |
Series C | 5 |
Series A | 4 |
Series D | 3 |
Others | 2 |
Note: We have considered here, only first round of investments
TCG Crossover's Investments by Sector
TCG Crossover has a diverse portfolio, with companies operating in the Life Sciences, High Tech, Sustainability Tech, Enterprise Applications and Healthcare. Notably, it has invested in 39 Tech companies, 38 Enterprise (B2B) companies, 2 Consumer (B2C) companies and at least 2 companies focusing on Software.Sector | No. of Investments |
|---|---|
Life Sciences | 39 |
High Tech | 4 |
Sustainability Tech | 3 |
Enterprise Applications | 1 |
Healthcare | 1 |
Note: We have considered here, only first round of investments
TCG Crossover's Investments by Geography
TCG Crossover has made most investments in United States (33), followed by China where it has made 2 investments.Country | No. of Investments |
|---|---|
United States | 33 |
China | 2 |
United Kingdom | 2 |
Denmark | 1 |
France | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
TCG Crossover's recent investments
TCG Crossover has made 9 investments in 2026 so far. Mentari and Accropeutics are the latest among them.Here are the most recent investments by TCG Crossover:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
May 20, 2026 | United States | Series D | 2530 | [+12] | |
May 18, 2026 | China | Series C | 6418 | [+4] | |
May 14, 2026 | United States | Series B | 5085 | ||
Apr 14, 2026 | Denmark | Series C | 5762 | [+15] | |
Feb 18, 2026 | United States | Series A | 8869 | [+4] |
IPOs and Publicly Listed companies in TCG Crossover's Portfolio
13 of TCG Crossover's portfolio companies have become public. Eikon got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Feb 2026 at marketcap of $908M and Aktis Oncology got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) at marketcap of $945M.Here are TCG Crossover's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Feb 05, 2026 | - | - | 2416 | |
Jan 09, 2026 | Aug 25, 2022 | Series A | 4794 | |
Jan 31, 2025 | Sep 11, 2025 | Post IPO | 8157 | |
Oct 11, 2024 | Jun 02, 2022 | Series A | 8357 | |
Jan 25, 2024 | Aug 01, 2023 | Series E | 7045 |
Acquired companies in TCG Crossover's Portfolio
11 companies from TCG Crossover's portfolio have been acquired. The most recent acquisition was Candid Therapeutics in May 2026 by UCB for $*****.Here are TCG Crossover's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 03, 2026 | Sep 09, 2024 | Series D | 5863 | |
Jan 20, 2026 | Dec 23, 2024 | Post IPO | 4952 | |
Nov 14, 2025 | Nov 21, 2024 | Post IPO | 9698 | |
Oct 24, 2025 | Feb 05, 2024 | Post IPO | 9400 | |
Sep 09, 2025 | - | - | 6695 |
Team profile of TCG Crossover
TCG Crossover has a team of 14 members including 4 Partners, 1 Venture Partner and 2 Principals located in United States. TCG Crossover's team sits on the board of 1 company.Here is a list of top team members in TCG Crossover:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Cupertino | - | - | |
Partner | New York City | - | ||
Partner | San Francisco | |||
Partner | - | - | ||
Venture Partner | Palo Alto | - | - | |
Principal | United States | - | - | |
Principal | - | - | - |
Co-investors of TCG Crossover
Over the past 5 years, 384 investors have co-invested in TCG Crossover's portfolio companies. This includes funds and angels.
- Invested before TCG Crossover: Orbimed, RA Capital Management and 181 others have invested in rounds before TCG Crossover. There are 6 companies where Orbimed has invested before TCG Crossover and 5 companies where RA Capital Management has invested before TCG Crossover.
- Top Co-investors of TCG Crossover: 156 investors entered a company along with TCG Crossover. These include investors like RA Capital Management (10 companies).
- Invested after TCG Crossover: A total of 45 investors have invested in TCG Crossover's portfolio after their investments. Top Investors include Janus Henderson Investors (4 companies), Wellington (3 companies) and RA Capital Management (3 companies).
Recent News related to TCG Crossover
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Accro Bioscience Secures $50M Series C Funding Led by OrbiMed for Immune Disease TherapiesPR Newswire•May 19, 2026•Accropeutics, Orbimed, LAV, Oriza Holdings and 4 others
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Adcendo ApS Completes $75 Million Series C FinancingCNW•Apr 14, 2026•Jeito, Bpifrance, Danmarks Eksport og Investeringsfond, Adcendo and 12 others
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Vor Bio Announces $75 Million Private Placement with TCGXBakersfield•Mar 27, 2026•TCG Crossover, Vor Biopharma
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Insider Buying: Surrozen (NASDAQ:SRZN) Major Shareholder Acquires $91,356.69 in StockInsiderTrades•Feb 04, 2026•Surrozen, TCG Crossover
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CORXEL Announces $287 Million Series D1 Financing for Cardiometabolic PipelineBenzinga•Jan 22, 2026•One Capital Management, RA Capital Management, RTW Investments, CORXEL and 11 others
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Secretive startup Mirador raises $250M, plans to become immunology powerhouseEndpoints•Jan 11, 2026•Mirador, Fidelity Investments, Blue Owl, Adage Capital Management and 13 others
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Mirum Pharma Announces Additional Private Placement Financing With TCGXFinancial Times•Dec 19, 2025•TCG Crossover, Mirum Pharmaceuticals, Bluejay Therapeutics
