Since 2016, when TPG teamed up with musician and activist Bono to launch its Impact Fund, the private equity firm has deployed around $12 billion in support of social-impact companies, in fields including climate solutions, economic development in the Global South, and health and wellness. (It also helped launch InStride, another CTW 2025 honoree.)Â
Over the past year TPG hit some big milestones in the health category: It estimates that in 2024, efforts backed by TPG’s Rise Funds were involved in approximately 26.5 million health care interactions, ranging from outpatient consultations to lifesaving interventions. Three TPG-incubated health companies also went public: Bicara Therapeutics, which is developing antibodies designed to fight solid-tumor cancers; CeriBell, whose devices help physicians diagnose and manage serious neurological condition; and Sionna Therapeutics, whose drugs have the potential to functionally cure cystic fibrosis (CF). Those IPOs demonstrate a key part of TPG’s operating thesis: Social-impact investing can seed high-performing businesses, and pay off for investors, too.