Private Equity

Fund News

Tiger Global raises $12.7 B for Early Stage focused VC fund

Mint  

New York-based Tiger Global Management has raised USD 12.7 Billion for a new fund to back fast-growing technology companies in their early stages. The firm raked in more than USD 11 Billion from external investir for its latest growth-investment fund, Tiger Global Private Investment Partners XV LP, in less than four months. It added more than USD 1.5 Billion from employees to close the vehicle at about USD 12.7 Billion. The new fund is roughly twice the firm's previous growth fund, which had collected more than USD 6.65 Billion when it closed last year. Tiger Global is investing from the new vehicle in fast-growing, internet-enabled businesses early in their life cycles, with more than half made in Series A or B rounds. In early February, the firm reported 900 investors in the new fund. It has shifted its emphasis away from late-stage startups and companies at the pre-initial public offering stage. So far this year, late-stage deals accounted for just 17% of the total, compared with 49% two years earlier. The new fund substantially increases the amount Tiger Global has to invest. The firm had reported having about USD 79.1 Billion of assets under management at the start of last year.