The San Francisco-based private-equity firm launched its middle-market and growth-equity platform, called TPG Growth, in 2007; it has recently become one of the more active investors in the country with holdings such as Airbnb and Spotify—as well as a major player in the restaurant space. The fund has invested in a number of growth concepts in recent years, including Taco Bueno in 2015, as well as Philz Coffee. It made some headlines last year by acquiring the fast-casual sandwich chain Mendocino Farms from another growth investor, L Catterton.
“As we look at investing in the restaurant space, we’ve seen that consumers are not only looking for higher quality but also uniqueness—more distinctive flavors and more elevated experiences.”
—Sanjay Banker, partner, TPG Growth, in a statement