TPG Growth Takes Majority Stake in SmartSweets

TPG's The Rise Funds Acquires Majority Stake in Trustwell

January 5, 2026

Cloud & SaaS

TPG's The Rise Funds has made a majority investment in Trustwell, a SaaS provider of regulatory compliance, traceability and supplier management software for the food industry. The Riverside Company has fully exited its investment; financial terms were not disclosed. The partnership aims to accelerate Trustwell's product innovation and scale adoption across food and beverage supply chains.

TPG Growth Invests $150 Million in Tessolve

September 4, 2025

Engineering Services

TPG Growth has invested $150 million in Tessolve, a global semiconductor and embedded engineering services provider, in a growth equity transaction. The capital will be used to expand R&D and test lab capacity, strengthen global delivery centers, and support strategic acquisitions as Tessolve scales its semiconductor engineering capabilities.

TPG’s Rise Fund Invests $200M in Foodsmart

June 26, 2024

Healthcare Services

The Rise Fund, the multi-sector impact investing strategy of TPG, has signed definitive documentation to lead an investment of over $200 million in Foodsmart, a U.S. telenutrition and food benefits management platform. The deal terms were not disclosed and is expected to close in July 2024, subject to customary closing conditions.

TPG Makes Strategic Investment in Sauce Labs

June 7, 2022

Cloud & SaaS

TPG has made an additional strategic investment in Sauce Labs, strengthening a partnership that began in 2019 and providing the company with resources to expand capabilities and accelerate growth. Sauce Labs, a San Francisco–based provider of continuous testing and error-reporting SaaS, said the capital will support product development and market leadership in DevOps and continuous testing.

TPG Growth Acquires Majority Stake in Morrow Sodali

April 26, 2022

Consulting

TPG Growth has acquired a majority stake in Morrow Sodali, the global shareholder engagement and governance advisory firm, with Granite Creek Capital Partners retaining a minority position. The investment is intended to accelerate Morrow Sodali’s global growth, expand its services and M&A capabilities, and support continued investments in ESG, governance, and shareholder engagement offerings.

TPG Deepens Investment in Sauce Labs

March 9, 2021

Cloud & SaaS

Sauce Labs announced that TPG has significantly increased its investment stake in the company and that Art Heidrich from TPG has joined Sauce Labs' Board of Directors. The minority/growth investment will support Sauce Labs’ continued expansion of its continuous testing platform and follow recent product and tuck-in acquisition activity (AutonomIQ and API Fortress).