Venture Capital: Tiger Global Is Raising Its Thirteenth $3.75B Venture Fund

January 15, 2021 | News, Venture Capital
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The new fund follows within a year of the closing of Tiger’s twelfth fund of a similar amount.

According to an exclusive report by TechCrunch, Tiger Global Management is raising its thirteenth venture fund. The $3.75 billion fund is named Tiger Private Investment Partners XIV, however. TechCrunch cited the firm’s recent investor letter, though a Tiger spokesperson did not comment.

The new fund will close in March, TechCrunch said.

Tiger Global – recent winners

Tiger invested in Yatsen Holding (NYSE: YSG), currently valued at $14 billion, after its IPO in November. It also backed Snowflake (NYSE: SNOW), now valued on the public markets at $85 billion. The VC owned 10.3% in Root (NASDAQ: ROOT) insurance which listed in November. It’s now worth $5.3 billion.

Three Tiger investees Postmates, Credit Karma, and Kustomer were acquired during 2020 – by Uber (NYSE: UBER), Intuit (NASDAQ: INTU), and Facebook (NASDAQ: FB), respectively.

Tiger Global – hallmark deals

Tiger also made some deals that generated profits in the billions. These include its $200 million investment in e-commerce heavyweight JD.com (HKG: 9618) that eventually returned $5 billion.

Tiger reportedly made over $1 billion from its investment in Meituan (HKG: 3690) which went public in 2018.

Another winner is India’s Flipkart which sold to Walmart in 2018. Tiger is said to have cleared $3 billion from that investment.

Untold billions could come from Tiger’s 20% stake in fitness company Peloton (NASDAQ: PTON), currently valued at over $48 billion.

Tiger generated a gross internal rate of return of 32% across its 12 previous funds. Net IRR was 24%, according to the investor letter seen by TechCrunch.

With a track record like that, subscriptions to Tiger’s new fund should come in thick and fast.

Typically, Tiger’s investors include sovereign wealth funds, foundations, endowments, pensions, and its own employees.

Related Story:  AI Startups Scale And Olive Score Solid Funding Rounds Led By Tiger Global

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