Tiger Global Management is accelerating its transformation from a traditional stock-picking hedge find to a venture capital investment business, with startup bets now accounting for nearly 75% of the firm’s assets, according to a report by Bloomberg.
Tiger Global Management is accelerating its transformation from a traditional stock-picking hedge find to a venture capital investment business, with startup bets now accounting for nearly 75% of the firm’s assets, according to a report by Bloomberg.
While Tiger Global’s traditional hedge fund lost over half its value in 2022, its VC division has seen exponential growth over the past two years, helping then firm weather its worst year on record and avoid even bigger losses from equities wagers.
The firm’s long-short equity hedge fund, which was launched by Chase Coleman in 2001, with a $25 million investment from his former boss, lost 54% in the first 11 months of last year, while its long-only fund was down more than 60%.
The report cites data from Pitchbook as revealing that Tiger Global has now made 683 venture and private equity investments since the start of 2021, more than the previous eight years combined, with VC boss Scott Shleifer also leading a drive to raise almost $13 billion for the firm’s biggest-ever venture fund, Private Investment Partners 15, which will invest in consumer and tech startups with a focus on India.
