Tiger Global Management

American investment firm

Not to be confused with Tiger Management or Tiger Asia Management.

Tiger Global Management, LLC

Headquartered in the Solow Building

Formerly| Tiger Technology Management LLC
Company type| Private
Industry| Investment Management
Founded| March 2001; 23 years ago (March 2001)
Founder| Chase Coleman III
Headquarters| Solow Building, 9 West 57th Street, New York City, New York, U.S.
Products|

* Hedge fund
* Private equity
* Venture capital

AUM| US$58.5 billion (November 2023)[1]

Number of employees

| 162 (2022)
Website| tigerglobal.com
Footnotes / references
[2]

Tiger Global Management, LLC (often referred to as Tiger Global and formerly known as Tiger Technology) is an American investment firm founded by Chase Coleman III, a former Tiger Management employee under Julian Robertson, in March 2001. It mainly focuses on internet, software, consumer, and financial technology companies.

## Background and history

[edit]

Chase Coleman III was a protégé of Julian Robertson and from 1997 to 2000 worked as a technology analyst for the firm, Tiger Management.[3] In 2000, Robertson closed Tiger Management, and entrusted Coleman with over $25 million to manage, making him one of the 30 or more so-called "Tiger Cubs", fund managers who started their fund management careers with Tiger Management.[4]

In 2001, Coleman established Tiger Technology (which would be later renamed to Tiger Global Management, LLC),[5] as a hedge fund to invest in the public equity market. In 2003, Scott Shleifer helped Tiger Global expand into investing in the private equity market.[6]

From the period of 2007 to 2017, according to the Preqin Venture Report, Tiger Global raised the highest amount of capital among venture capital firms.[7]

In 2020, Tiger Global earned its investors $10.4 billion, more than any other hedge fund on the annual list of the top 20 managers compiled by London fund-of-funds firm LCH Investments.[5]

In March 2022, Tiger Global raised $12.7 billion for a new fund to back fast-growing technology companies in their early stages; the firm has reported 900 investors involved in the new fund.[8]

In 2022, the firm experienced significant losses.[9] By June 2022, the firm's hedge fund and its long-only fund had respectively declined 52% and 62% in value since the beginning of the year.[10][11] The Wall Street Journal and Financial Times reported that these losses eliminated some two-thirds of the value accrued by the hedge fund and the long-only fund over the duration of their existences, while New York cited research indicating the losses could account for three-fourths of lifetime gains.[10][11][12] The Wall Street Journal has referred to the hedge fund's loss as "one of the largest-ever",[10] and an anonymous hedge fund manager quoted by New York referred to the losses as "[...] the biggest in the history of hedge funds".[12]

In June, the firm's venture capital losses were reported to be less severe than those of the firm's funds.[12] A letter to investors from Tiger summarizing the performance of its venture funds in the first quarter of 2022 revealed that losses associated with the funds stood at around 9%.[12]

## Business overview

[edit]

Tiger Global has two strategies that each manage roughly the same amount of capital.

The public equity business uses equity strategies to invest in publicly traded companies.[13] Its notable funds include Tiger Global Investments (the firm's flagship long-short fund) and Tiger Global Long Opportunities (long-only).[5]

The private equity strategy is led by Scott Shleifer.[14]

## Private equity funds

[edit]

Fund[15] | Vintage Year  | Committed Capital (US$m)

|
|

Tiger Global Private Investment Partners I  | 2003  | 99
Tiger Global Private Investment Partners II  | 2007  | N/A
Tiger Global Private Investment Partners III  | 2007  | 600
Tiger Global Private Investment Partners IV  | 2007  | 1,000
Tiger Global Private Investment Partners V  | 2008  | 1,100
Tiger Global Private Investment Partners VI  | 2011  | 1,250
Tiger Global Private Investment Partners VII  | 2012  | 1,490
Tiger Global Private Investment Partners VIII  | 2014  | 1,500
Tiger Global Private Investment Partners IX  | 2014  | 2,500
Tiger Global Private Investment Partners X  | 2015  | 2,500
Tiger Global Private Investment Partners XI  | 2018  | 3,750
Tiger Global Private Investment Partners XII  | 2020  | 3,750
Tiger Global Private Investment Partners XIV  | 2021  | 6,650
Tiger Global Private Investment Partners XV  | 2021  | 12,700

## Notable venture capital investments

[edit]

* Alibaba[16]
* Blank Street Coffee[17]
* Block Inc.[18]
* ByteDance[19]
* Carta[20]
* Coinbase[21]
* Credit Karma[22]
* Databricks[23]
* DST Global[19]
* Facebook[24]
* Flipkart[19]
* Glassdoor[25]
* JD.com[19]
* Kajabi[26]
* Koo[27]
* LinkedIn[28]
* Nextdoor[29]
* Nubank[30]
* Quora[31]
* Scribe[32]
* SenseTime[33]
* SoftBank Group[34]
* Spotify[35]
* Stripe[36][37]
* strongDM[38]
* The Viral Fever[39]
* UiPath[40]
* Waymo[41]
* Yandex[19]

## References

[edit]

1. ^ Celarier, Michelle (March 5, 2024). "Tiger Global's Chase Coleman Says IPOs Are Still in the 'Desert'". Institutional Investor. Archived from the original on March 25, 2024. Retrieved May 7, 2024.
2. ^ "Tiger Global Management Form ADV" (PDF). U.S. Securities and Exchange Commission. June 14, 2022. Archived (PDF) from the original on July 16, 2022. Retrieved July 6, 2022.
3. ^ "Chase Coleman, III". Forbes. Archived from the original on July 30, 2017. Retrieved March 2, 2021.
4. ^ "Top Hedge Fund Returns 45% With Robertson's 36-Year-Old Disciple - Bloomberg Business". Bloomberg News. January 21, 2016. Archived from the original on January 21, 2016. Retrieved March 2, 2021.
5. ^ a b c Taub, Stephen (March 10, 2021). "How Chase Coleman Became a Hedge Fund Legend". Institutional Investor. Archived from the original on March 24, 2021. Retrieved March 12, 2021.
6. ^ "Scott Shleifer". Forbes. Archived from the original on March 28, 2022. Retrieved March 28, 2022.
7. ^ "Preqin Special Report: The Venture Capital Top 100" (Press release).
8. ^ Ted Bunker; Laura Cooper (March 18, 2022). "Tiger Global Closes on $12.7 Billion for Latest Growth Fund". Wall Street Journal. Archived from the original on April 15, 2022. Retrieved April 15, 2022.
9. ^ Kochkodin, Brandon. "More Losses For Tiger Global From Its FTX Investment". Forbes. Archived from the original on January 23, 2023. Retrieved January 23, 2023.
10. ^ a b c Brown, Eliot; Chung, Juliet (June 6, 2022). "Highflying Tiger Global Humbled by Unraveling of Giant Tech Bet". Wall Street Journal. Archived from the original on June 15, 2022. Retrieved June 15, 2022.
11. ^ a b Fletcher, Laurence; Quinio, Akila; Kruppa, Miles; Gara, Antoine (May 18, 2022). "The mauling of Tiger Global". The Financial Times. Archived from the original on May 20, 2022. Retrieved June 15, 2022.
12. ^ a b c d Celarier, Michelle (June 17, 2022). "'The Poster Child' of the Tech Meltdown". Intelligencer. Archived from the original on June 17, 2022. Retrieved June 17, 2022.
13. ^ "This Hedge Fund Made the Most Money for Investors Last Year". Institutional Investor. January 25, 2021. Archived from the original on February 27, 2021. Retrieved March 2, 2021.
14. ^ "Scott Shleifer". Forbes. Archived from the original on April 8, 2022. Retrieved April 7, 2022.
15. ^ "Tiger Global Management | Palico". www.palico.com. Archived from the original on March 3, 2021. Retrieved March 2, 2021.
16. ^ Barr, Alistair. "Tiger Global snaps up Alibaba shares at lofty valuation". USA TODAY. Archived from the original on October 29, 2021. Retrieved October 19, 2021.
17. ^ Moskin, Julia (August 29, 2022). "It's Not Just You — Blank Street Coffee Is Suddenly Inescapable". The New York Times. Archived from the original on September 27, 2023. Retrieved September 13, 2023.
18. ^ "Square Closes That $100 Million Round, Mary Meeker Joins Board". TechCrunch. June 29, 2011. Retrieved March 2, 2021.
19. ^ a b c d e Kruppa, Miles; Parkin, Benjamin (July 27, 2021). "Tiger Global: the technology investor ruffling Silicon Valley feathers". Financial Times. Archived from the original on October 28, 2021. Retrieved October 19, 2021.
20. ^ "Carta was just valued at $1.7 billion by Andreessen Horowitz, in a deal some see as rich". TechCrunch. May 6, 2019. Retrieved March 2, 2021.
21. ^ Li, Yun (August 16, 2021). "Chase Coleman's Tiger Global buys Coinbase, adds to DoorDash and DocuSign bets". CNBC. Archived from the original on October 28, 2021. Retrieved October 19, 2021.
22. ^ "Credit Karma Confirms New $85M Financing Round Led By Google Capital". TechCrunch. March 12, 2014. Retrieved March 2, 2021.
23. ^ "Databricks' Growth Draws $400 Million Series F Investment and $6.2 Billion Valuation". Databricks. October 22, 2019. Archived from the original on March 7, 2021. Retrieved March 2, 2021.
24. ^ Vardi, Nathan. "Chase Coleman's Tiger Global Management Generated $1 Billion From Its Facebook Trade". Forbes. Archived from the original on September 19, 2021. Retrieved March 2, 2021.
25. ^ McBride, Sarah (December 5, 2013). "Jobs site Glassdoor raises $50 million from Tiger Global". Reuters. Archived from the original on November 8, 2023. Retrieved March 2, 2021.
26. ^ "TikTok Exec Sean Kim Joins Kajabi as President". Orange County Business Journal. February 14, 2022. Retrieved April 7, 2022.
27. ^ Indian, Express (May 26, 2021). "Koo raises $30 million funding led by Tiger Global". Indian Express. Archived from the original on May 26, 2021. Retrieved May 28, 2021.
28. ^ "Tiger Global Said to Invest in LinkedIn at $2 Billion Valuation". Bloomberg.com. July 28, 2010. Archived from the original on August 16, 2018. Retrieved March 2, 2021.
29. ^ "Nextdoor to go public in $4.3 bln merger with Khosla-backed SPAC". Reuters. July 6, 2021. Archived from the original on October 29, 2021. Retrieved October 19, 2021.
30. ^ "Brazil's Nubank Raises $30M Led By Tiger To Build Out Its Mobile-Based Credit Card Business". TechCrunch. June 2, 2015. Retrieved March 2, 2021.
31. ^ McBride, Sarah (April 9, 2014). "Tiger Global helps Q&A site Quora raise $80 million". Reuters. Archived from the original on November 8, 2023. Retrieved March 2, 2021.
32. ^ Hall, Christine (October 18, 2024). "Scribe launches knowledge-capturing software that gets employees on the same page". TechCrunch. Retrieved August 22, 2024.
33. ^ "China's SenseTime, the world's highest-valued AI startup, closes $620M follow-on round". TechCrunch. May 31, 2018. Retrieved March 2, 2021.
34. ^ Ghosh, Sam Nussey, Sayantani (July 13, 2018). "SoftBank's cheap valuation draws $1 billion bet from U.S. fund Tiger Global". Reuters. Archived from the original on November 8, 2023. Retrieved March 2, 2021.`{{cite news}}`: CS1 maint: multiple names: authors list (link)
35. ^ "Tiger Global Among Top Spotify Holders With $1.9 Billion Stake - Bloomberg". Bloomberg News. May 6, 2018. Archived from the original on May 6, 2018.
36. ^ "Stripe is now valued at $20B after raising another $245M led by Tiger Global". TechCrunch. September 26, 2018. Retrieved March 2, 2021.
37. ^ Kate Rooney; Ryan Browne (January 30, 2019). "Stripe rides the online payments boom to a $22.5 billion valuation". CNBC. Archived from the original on August 6, 2019. Retrieved January 28, 2022.
38. ^ "Infrastructure access platform StrongDM raises $54M". VentureBeat. September 15, 2021. Archived from the original on January 7, 2023. Retrieved January 13, 2023.
39. ^ "New Investment from Tiger Global doubles TVF's Valuation to $ 80 Million". YourStory.com. May 23, 2019. Retrieved April 6, 2021.
40. ^ "UiPath Raises $225M to Become NYC's Newest Decacorn". AlleyWatch. July 15, 2020. Archived from the original on February 10, 2021. Retrieved March 2, 2021.
41. ^ "Alphabet's Waymo raises $2.5 billion in new investment round". cnbc.com. June 16, 2021. Archived from the original on June 18, 2021. Retrieved June 18, 2021.

## External links

[edit]

* www.tigerglobal.com (Company Website)

* v
* t
* e

Private equity and venture capital

Investment types|

* Buyout
* Leveraged
* Venture
* Mezzanine
* Growth
* Secondaries
* Equity co-investment

History|

* Early history
* 1980s
* 1990s
* 2000s
* 2010s
* 2020s

Terms and
concepts|

| Buyout|

* Financial sponsor
* Management buyout
* Divisional buyout
* Buy–sell agreement
* Leveraged recapitalization
* Dividend recapitalization

|

Venture|

* Angel investor
* Business incubator
* Post-money valuation
* Pre-money valuation
* SAFE
* Seed money
* Startup company
* Venture capital financing
* Venture debt
* Venture round

Structure|

* Private equity firms and funds
* Limited partnership
* Limited liability company
* Carried interest
* Management fee
* Pledge fund
* Publicly traded private equity
* Business Development Company
* Venture capital trust
* Private investment in public equity (PIPE)
* SPAC

Investors|

* Corporations
* Institutional investors
* Pension funds
* Insurance companies
* Fund of funds
* Endowments
* Foundations
* Investment banks
* Merchant banks
* Commercial banks
* High-net-worth individuals
* Family offices
* Sovereign wealth funds
* Crowdfunding

Related
financial terms|

* AUM
* Cap table
* Capital call
* Capital commitment
* Capital structure
* Distribution waterfall
* EBITDA
* Envy ratio
* High-yield debt
* IPO
* IRR
* Leverage
* Liquidation preference
* M&A
* PME
* Taxation of private equity and hedge funds
* Undercapitalization
* Vintage year

* List of private equity firms
* List of venture capital firms

* v
* t
* e

Hedge funds

Investment
strategy|

| Arbitrage /
relative value|

* Capital structure arbitrage
* Convertible arbitrage
* Equity market neutral
* Fixed income arbitrage / fixed-income relative-value investing
* Statistical arbitrage
* Volatility arbitrage

|

Event-driven|

* Shareholder activism
* Distressed securities
* Risk arbitrage
* Special situation

Directional|

* Convergence trade
* Commodity trading advisors / managed futures account
* Dedicated short
* Global macro
* Long/short equity
* Trend following

Other|

* Fund of hedge funds / Multi-manager

Trading|

* Algorithmic trading
* Day trading
* High-frequency trading
* Prime brokerage
* Program trading
* Proprietary trading

Related
terms|

| Markets|

* Commodities
* Derivatives
* Equity
* Fixed income
* Foreign exchange
* Money markets
* Structured securities

|

Misc|

* Absolute return
* Arbitrage pricing theory
* Assets under management
* Black–Scholes model (Greeks: delta neutral)
* Capital asset pricing model (alpha / beta / security characteristic line)
* Fundamental analysis
* Hedge
* Securitization
* Short
* Taxation of private equity and hedge funds
* Technical analysis

Investors|

* Vulture funds
* Family offices
* Financial endowments
* Fund of hedge funds
* High-net-worth individual
* Institutional investors
* Insurance companies
* Investment banks
* Merchant banks
* Pension funds
* Sovereign wealth funds

Governance|

* Fund governance
* Standards Board for Alternative Investments
* Managed Funds Association

* Alternative investment management companies
* Hedge funds
* Hedge fund managers
* List of hedge funds

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