Matthew Hobart
Managing Partner
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- Full Name
- Matthew T. Hobart
- Title
- Partner and Co-Managing Partner, TPG Growth (leads Healthcare and Financial Services)
- Firm
- TPG (TPG Growth)
- Firm Type
- Growth equity / private equity (part of TPG, a global alternative asset manager) — *not an angel investor*
- Investment Stage
- Growth equity / expansion and later-stage (not seed)
- Check Size
- Large growth-equity investments; representative deals include a $75M investment in Precision for Medicine and participation in RefleXion's ~$105M round
- Target Company Profile
- Established, growth-stage companies with proven models needing capital and operational partnership to scale
- Sector Focus
- Healthcare (primary) and Financial Services
- Geographic Focus
- United States, with global/emerging-markets healthcare exposure (e.g., Asia Healthcare Holdings, Evercare)
- Location
- San Francisco, California
Background
Matthew Hobart is a Partner and Co-Managing Partner of TPG Growth, the middle-market and growth-equity platform of TPG, one of the world's largest alternative asset management firms. Based in San Francisco, he leads TPG Growth's Healthcare and Financial Services investing and oversees the platform's healthcare group. He joined TPG in 2004 and was a key member of the team that launched TPG Growth in 2007, and has since risen to co-lead the platform alongside partners such as David Trujillo.
Before TPG, Hobart was Vice President of Corporate Development at Critical Path, where he was part of a turnaround team that led the company through a major financial and operational restructuring. Earlier, he co-founded and served as a Managing Director of Vectis Group, a venture firm that capitalized and built companies globally in partnership with leading U.S. technology businesses. He began his private-equity career making investments in the U.S. and Europe for the $2.2 billion Morgan Stanley Capital Partners III fund.
Hobart graduated Summa Cum Laude from Miami University with a degree in Economics and earned an MBA from Stanford University's Graduate School of Business. He is a frequent presence on healthcare company boards, having served on the boards of Asia Healthcare Holdings, Evercare Health Holdings, GoHealth Urgent Care, Independent Pet Partners, Medical Solutions, Precision Medicine Group, Q-Centrix, and RefleXion Medical, among others.
Investment Thesis & Focus
- Invests through TPG Growth in growth-stage and established companies — this is institutional growth/private equity, not seed or angel investing.
- Sector leadership in healthcare (services, providers, life-science tools, tech-enabled care) and financial services.
- Backs businesses at the intersection of large secular healthcare trends — in his own words on the Precision for Medicine deal: *"Precision for Medicine operates at the intersection of two of the fastest-growing areas in healthcare — precision medicine and value-based care."*
- Emphasizes partnering with strong management teams to scale platforms, including building multi-region and emerging-markets healthcare platforms (Asia Healthcare Holdings, Evercare).
- On the K2 Medical Research investment (2024): values companies delivering *"solutions that benefit patients, physicians, and the broader research community."*
Notable Investments
- Precision for Medicine (Precision Medicine Group) — TPG Growth invested $75 million (2015); precision-medicine and clinical research services platform.
- RefleXion Medical — cancer-treatment technology company; participated in a ~$105M financing to commercialize biology-guided radiotherapy.
- GoHealth Urgent Care — urgent-care provider platform; board member.
- K2 Medical Research — clinical-trial site platform specializing in CNS trials (Alzheimer's, psychiatry, liver disease); strategic growth investment announced June 2024.
- Asia Healthcare Holdings — India-focused single-specialty healthcare platform; raised $50M from Sheares Healthcare.
- Evercare Health Holdings — emerging-markets (Africa/South Asia) hospital and healthcare platform.
- Medical Solutions — travel-nurse and healthcare staffing company.
- Q-Centrix, Independent Pet Partners, Evolent Health, Northstar Anesthesia — additional healthcare/services investments and board roles.
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