TPG just raised $1.6 billion for a tech-focused fund after bets on Uber, Spotify, and other private companies paid off big – and showed some of the problems with current funding models

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 68 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

TPG created this fund to buy into some of the private company opportunities that didn't fit into its traditional private equity funds.

- provided some relief, but often at unfavorable financial terms and in trades that provided more opportunities for financial information to leak.Some investors and companies gave TPG the option to buy their shares or participate in other investments outside of funding rounds, but the options didn't fit neatly into the firm's private equity fund structures. In response, the firm founded TPG Tech Adjacencies .

On Monday, TPG said it raised $1.6 billion for the fund, which is set up to"provide flexible capital for founders, employees, and early investors looking for liquidity, as well as primary structured equity solutions for companies looking for additional, creative capital for growth."TTAD is led by David Trujillo, the firm's head of internet, digital media & communications, and Nehal Raj, head of software & enterprise technology.

"Through our portfolio and day-to-day interactions with leading private tech companies, we've seen a new set of financing demands arise that are unique to companies staying private longer," Trujillo told Business Insider."We created TTAD to help address these investment opportunities. It is another tool in our toolkit for entrepreneurs and businesses across various stages of growth.

A source close to TTAD said the fund has already invested in seven companies, the majority of which are new investments for TPG. The seven investments include IT software Kaseya, software developer Sonatype, payments company FreedomPay, discount hotel booking platform Hotel Tonight, and platform testing company Sauce Labs.

for our weekly newsletter Wall Street Insider, a behind-the-scenes look at the stories dominating banking, business, and big deals.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US tech stocks push Norway's $1 trillion oil fund to best ever gainsThe world's largest sovereign wealth fund just had its best quarter ever Trump2020 +9.1% and they're actually bragging about that.... Nice work Folketrygdfond you only underperformed by 600 bps.. What are you charging them anyway? Are you looking for iPhone style or unique Business card design? Please Contact:
Source: CNBC - 🏆 12. / 72 Read more »

Apple earnings send valuation back toward $1 trillion: Live blogApple Inc. is released its fiscal second-quarter earnings Tuesday afternoon, and shares gained toward the magical $1 trillion number in after-hours trading.
Source: MarketWatch - 🏆 3. / 97 Read more »

Strong Apple Earnings Could Push the Company Above $1 Trillion Once AgainAfter a big drop in 2018 and a furious rally to start 2019, Apple is once again closing on a $1 trillion market value. Apple’s earnings report could be the catalyst that puts it back over the top. No Huawei no competition
Source: MarketWatch - 🏆 3. / 97 Read more »