Private Equity News & Analysis

Food and ag chief leaves TPG’s The Rise Fund

Joy Basu’s exit from her role with the $2bn vehicle leaves it without a lead executive for agriculture, one of the seven sectors it targets.

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Joy Basu

Joy Basu, the food and agriculture impact sector lead for TPG’s $2 billion The Rise Fund, is transitioning out of her role with the fund.

The Rise Fund head of communications Frank Thomas told Agri Investor of the change in an email. Thomas declined to comment on the reason for Basu’s departure.

“Joy, actually, is leaving the Rise Fund, so we actually don’t have someone who is specifically focused on agriculture at exactly this moment,” said Thomas. “She is going to continue to be a senior advisor to us. It’s not really my place to talk about what her career trajectory is.”

Thomas added Basu’s advisory role will be focused on The Rise Fund.

A fund manager said The Rise Fund had considered investing in one of their firm’s portfolio companies told Agri Investor they understood Basu may also have some responsibilities related to TPG Growth.

Basu joined TPG Growth as a vice-president and chief of staff in 2015 after completing an MBA from Stanford that year.