Value Add VC tracks 1 company TPG Rise Climate has invested in and 1 venture round it took part in (0 as lead).
TPG Rise Climate key facts (as of )
| Fact | Value | Source |
|---|---|---|
| Founded | 2021 | Business Wire, October 3, 2026 |
| Type | Venture capital firm | Value Add VC classification |
| Partners and team | Hank Paulson (Executive Chairman of TPG Rise Climate) | tpg.com, October 24, 2026 |
| Funds tracked | 2 | Funds table on this page (each fund cites its source) |
| Venture rounds tracked | 1 (led 0, joined 1) 1 in the last 12 months | Recent deals table on this page (each round cites its source) |
| Portfolio companies tracked | 1 | Portfolio list on this page |
TPG Rise Climate overview
TPG Rise Climate is the climate investing strategy of TPG's impact platform, launched in 2021.[1] It runs dedicated pools of capital across private equity, transition infrastructure and the Global South.[2] It invests in clean electrons, clean molecules and materials, and negative emissions.[2] Former U.S. Treasury Secretary Hank Paulson is its Executive Chairman.[2] Nearly 30 large multinational companies are limited partners in the strategy through the TPG Rise Climate Coalition.[1] Deals include the roughly €6.7 billion acquisition of Techem with GIC.[3]
Recent deals we track
1Track record: led 0 and participated in 1 of 1 tracked venture round · 1 in the last 12 months
| Date | Company | Event | Role | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|---|---|
| Aug 12, 2026 | Form Energy | Series G | Participated | $750M | — | TechCrunch |
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About TPG Rise Climate
TPG Rise Climate was founded in 2021.[Business Wire] Its partners and team include Hank Paulson (Executive Chairman of TPG Rise Climate).[tpg.com]
TPG Rise Climate partners and team
1- Hank Paulson · Executive Chairman of TPG Rise Climate (tpg.com)
TPG Rise Climate profile
written 2026-10-31TPG Rise Climate is TPG's dedicated climate investing platform, with pools of capital across private equity, transition infrastructure and the global south.
Strategy
TPG Rise Climate has been purpose-built for a new era of climate investing, according to TPG's own platform page, with dedicated pools of capital across private equity, transition infrastructure, and the global south. The platform says it treats climate as a sector the way TPG treats Technology or Healthcare, deploying capital across asset classes from growth equity to value-added infrastructure.[1]
TPG Rise Climate organizes its investing around three broad sub-sectors: Clean Electrons, Clean Molecules and Materials, and Negative Emissions. Its Private Equity strategy pursues private equity returns across deal archetypes including majority control deals, carve-outs, and growth equity, while its Transition Infrastructure strategy pursues value-add infrastructure returns.[1]
TPG Rise Climate's Global South Initiative was developed through a partnership with ALTÉRRA, which the platform page describes as the largest climate investing fund in the world. The page says ALTÉRRA's catalytic capital commitment to the initiative is designed to unlock additional capital to widen the range and number of transactions pursued in the Global South.[1]
Funds
TPG Rise Climate II, L.P. filed an amended Form D on February 6, 2026 stating that the issuer, including its parallel funds, had received binding capital commitments of $6,963,312,508 and had closed on $6,625,162,508 of those commitments, with the fund expecting to close on the remainder as it raises additional capital. The filing reports 107 investors.[2]
TPG Rise Climate II, L.P.'s placement agents include J.P. Morgan Securities, Merrill Lynch, Pierce, Fenner & Smith, and Morgan Stanley, according to its Form D. The filing names Martin Davidson, Joann Harris, Steven A. Willmann, Matthew White and Jean-Baptiste Garcia as officers of the fund's general partner.[2]
TPG Rise Climate's broader fund family includes separately registered vehicles for co-investment, transition infrastructure, and the Global South Initiative, among more than two dozen related SEC filer entities found for the platform. The sources opened for this profile cover only the two flagship funds' Form D filings in detail.[3]
Notable investments
TPG Rise Climate's platform page names JetBlue Technology Ventures and Delta Air Lines as limited partners that invested in TPG Rise Climate to access or accelerate climate solutions relevant to their industries. The page frames these as part of the TPG Rise Climate Coalition, a group of multinational companies that made commitments to the inaugural fund.[1]
TPG Rise Climate's Coalition is convened to share knowledge, investment opportunities, and best practices among member companies, portfolio companies, and TPG's investing teams, according to the platform page, which quotes Hank Paulson, Executive Chairman of TPG Rise Climate and former U.S. Treasury Secretary, describing the Coalition's purpose as catalyzing climate-focused capital.[1]
Partners
TPG Rise Climate's inaugural fund names TPG co-founders David Bonderman and James G. Coulter as indirect control persons of the fund's general partner, according to its Form D filing. Hank Paulson, former U.S. Treasury Secretary, serves as Executive Chairman of TPG Rise Climate, as described on the platform's own page.[4],[1]
TPG Rise Climate II's general partner officers listed on its SEC filing are Martin Davidson, who signed the most recent amendment as Chief Accounting Officer of the GP of the issuer's GP, along with Joann Harris, Steven A. Willmann, Matthew White, and Jean-Baptiste Garcia, the latter based in Amsterdam.[2]
Recent activity
TPG Rise Climate's second flagship fund, TPG Rise Climate II, L.P., continued raising capital through at least February 2026, when its most recent Form D amendment reported binding capital commitments of nearly $6,963,312,508 with $6,625,162,508 already closed. The filing states the fund expects to close on the remainder of commitments as it raises additional capital, indicating fundraising was still active as of that filing.[2]
TPG Rise Climate's platform page lists recent insights published through late 2025, including a November 19, 2025 piece titled Climate Investing Update: Separating Signal from Noise and an October 13, 2025 interview with Gregg Felton, Founder and CEO of Altus Power. The sources opened for this profile do not include a 2026-dated insight or press release beyond the fund filings above.[1]
References
Recent changes
- Aug 12, 2026Aug 12, 2026Invested in Form Energy (Series G, $750M) TechCrunch
- Mar 31, 2026Mar 31, 2026New fund: TPG Rise Climate Fund II SEC EDGAR Form D
Funds
2| Fund | Vintage | Size | Strategy | Source |
|---|---|---|---|---|
| TPG Rise Climate Fund II | 2026 | — | Other | As of Apr 14, 2026SEC EDGAR Form D |
| TPG Rise Climate II-X | 2025 | — | Side vehicleSide vehicle (parallel, feeder, affiliate or SPV) — not the flagship close | As of Jul 24, 2026SEC EDGAR Form D |
Portfolio
1 totalCo-Investors
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TPG Rise Climate FAQ
What stage does TPG Rise Climate invest at?
In the rounds Value Add VC tracks, TPG Rise Climate's deals were most often Series G (1).
Who are the partners at TPG Rise Climate?
TPG Rise Climate's partners and team include Hank Paulson (Executive Chairman of TPG Rise Climate), according to tpg.com.
What companies has TPG Rise Climate backed?
Companies Value Add VC tracks as TPG Rise Climate investments include Form Energy.
When was TPG Rise Climate founded?
TPG Rise Climate was founded in 2021, according to Business Wire.
Who does TPG Rise Climate co-invest with most?
In the rounds Value Add tracks, TPG Rise Climate most often invests alongside Aramco Ventures (1 shared deal), Breakthrough Energy Ventures (1 shared deal), Coatue Management (1 shared deal), Energy Impact Partners (1 shared deal), Franklin Templeton (1 shared deal).
References
researched 2026-10-24Sources & methodologyshow
- SEC EDGAR Form Dprimary source1 fact
- SEC EDGAR Form Dprimary source1 fact
- TechCrunchmajor outlet1 fact
- tpg.comValue Add VC data1 fact
Figures are labelled Reported (a source states it), Estimated, Derived (computed from other facts) or Rumored (in talks / unconfirmed). Rumors never replace a confirmed figure. Each figure keeps its own as-of date; history is preserved rather than overwritten.