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Tiger Global is raising 6 billion USD to invest in tech businesses

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Joyashree Dey Follow

INDIA

Oct, 09 2022

Oct, 09 2022

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Tiger Global is planning to raise $6 billion for its next newest fund that invests in privately-held tech companies, for which it seeks to hold a “first close” at least by mid-January as per an investor letter viewed by Axios 


Tiger is aiming not exactly 50% of what it raised for its earlier asset, mirroring a decrease in startup funding round valuations and sizes. 


Simultaneously, $6 billion isn't anything to sniffle at, it isn't awfully bearish to recommend that Tiger. $6 billion is not exactly around 50% of the $12.7 billion that Tiger Global secured from investors back in March of this current year, money it started investing the previous fall and tore through rapidly. 


Shein, TikTok parent ByteDance, Databricks, Stripe, and ByteDance are included under existing portfolio companies. 


Tiger's letter reports that its Private Investment Partner's funds have brought more than $36 billion since its commencement in 2003, distributed $30 billion, and produced a net IRR of 24%.

 

"The funds have generated positive IRRs in every vintage year of investment and consistently robust distributions, with each of our first 10 funds having returned between 130% and 1,058% of called capital." 


Recently, the investors were informed by Tiger that partner John Curtius is leaving to launch his own VC firm centered around B2B software startup. 


Tiger says that it has put the majority of its current asset in the beginning phase of enterprise software and fintech companies in the United States and India, with average investment sizes falling to $30 million, and that it anticipates that strategy to persist. 


In the past couple of months, Tiger Global has procured stakes in gaming framework startup Lysto and the NEAR protocol. 


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Joyashree Dey

CBW - External Analyst

INDIA

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