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Tiger Global Management
American investment firm From Wikipedia, the free encyclopedia
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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.
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Background and history
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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]
In 2024, Tiger Global rebounded with 24% returns tied to rising technology stocks, but the firm was still recouping recent losses.[13]
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Business overview
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.[14] 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 was led by Scott Shleifer from 2003 until he stepped down into an advisory role in November 2023.[15][16][17]
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Private equity funds
Notable venture capital investments
- Alibaba[19]
- Blank Street Coffee[20]
- Block Inc.[21]
- ByteDance[22]
- Carta[23]
- Coinbase[24]
- Credit Karma[25]
- Databricks[26]
- DST Global[22]
- Facebook[27]
- Flipkart[22]
- Glassdoor[28]
- JD.com[22]
- Kajabi[29]
- Koo[30]
- LinkedIn[31]
- Nextdoor[32]
- Nubank[33]
- Quora[34]
- Scribe[35]
- SenseTime[36]
- SoftBank Group[37]
- Spotify[38]
- Stripe[39][40]
- strongDM[41]
- The Viral Fever[42]
- UiPath[43]
- Waymo[44]
- Yandex[22]
References
External links
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