The crystal growth, structure, and basic magnetic properties of TmMgGaO4 are reported. The Tm ions are located in a planar triangular lattice consisting of distorted TmO6 octahedra, while the Mg and Ga atoms randomly occupy intermediary bilayers of M-O triangular bipyramids. The Tm ions are positionally disordered. The material displays an antiferromagnetic Curie Weiss theta of similar to -20 -25 K, with no clear ordering visible in the magnetic susceptibility down to 1.8 K; the structure and magnetic properties suggest that ordering of the magnetic moments is frustrated by both structural disorder and the triangular magnetic motif. Single crystal magnetization measurements indicate that the magnetic properties are highly anisotropic, with large moments measured perpendicular to the triangular planes. At 2 K, a broad step-like feature is seen in the field-dependent magnetization perpendicular to the plane on applied field near 2 T.