Tiger Global Management, LLC (often referred to as Tiger Global and formerly known as Tiger Technology) is an American investment firm. It mainly focuses on Internet, software, consumer, and financial technology industries.

Background and history

Chase Coleman III was a protégé of

Julian Robertson Julian Hart Robertson Jr. (June 25, 1932 – August 23, 2022) was an American billionaire hedge fund manager, and philanthropist. Robertson founded Tiger Management, one of the first hedge funds, in 1980. From its inception in 1980 to its 1 ...

and from 1997 to 2000 worked as a technology analyst for the firm,

Tiger Management Tiger Management Corp., also known as "The Tiger Fund", is an American hedge fund and family office founded by Julian Robertson. The fund began investing in 1980 and closed in March 2000/01. It continues to operate today in direct public equit ...

. 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. In 2001, Coleman established Tiger Technology (which would be later renamed to Tiger Global Management, LLC), as a

hedge fund A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as ...

to invest in the public equity market. In 2003, Scott Shleifer helped Tiger Global expand into investing in the

private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a typ ...

market. From the period of 2007 to 2017, according to the Preqin Venture Report, Tiger Global raised the highest amount of capital amongst

venture capital Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to start-up company, startups, early-stage, and emerging companies that have been deemed to have high growth poten ...

firms. 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. 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.

2022 losses

In 2022, the firm experienced significant losses. 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. The ''

Wall Street Journal ''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...

'' and ''

Financial Times The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Nikke ...

'' 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 New York most commonly refers to: * New York City, the most populous city in the United States, located in the state of New York * New York (state), a state in the northeastern United States New York may also refer to: Film and television * '' ...

'' cited research indicating the losses could account for three-fourths of lifetime gains. The ''Wall Street Journal'' has referred to the hedge fund's loss as "one of the largest-ever", and an anonymous hedge fund manager quoted by ''New York'' referred to the losses as " ..the biggest in the history of hedge funds". In June, the firm's venture capital losses were reported to be less severe than those of the firm's funds. 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%.

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. Its notable funds include Tiger Global Investments (the firm’s flagship long-short fund) and Tiger Global Long Opportunities (long-only). The

strategy, which is led by Scott Shleifer, targets growth-oriented private companies from early to late stages, with an emphasis on businesses based in the U.S., China and

India India, officially the Republic of India ( Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the ...

. Tiger Global is estimated to invest around 30% of its capital in early stage ( Series A and B) startups, and 20.5% directed toward Series C startups. The head of the Private Equity business was Lee Fixel until March 2019. Tiger Global is based in

with affiliate offices in

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delta i ...

Beijing } Beijing ( ; ; ), alternatively romanized as Peking ( ), is the capital of the People's Republic of China. It is the center of power and development of the country. Beijing is the world's most populous national capital city, with over 21 ...

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...

and

Bangalore Bangalore (), officially Bengaluru (), is the capital and largest city of the Indian state of Karnataka. It has a population of more than and a metropolitan population of around , making it the third most populous city and fifth most ...

Private equity funds

Notable venture capital investments

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ByteDance ByteDance Ltd. () is a Chinese internet technology company headquartered in Beijing and incorporated in the Cayman Islands. Founded by Zhang Yiming, Liang Rubo and a team of others in 2012, ByteDance developed the video-sharing social network ...

Carta Carta is Latin and Italian for "paper" and is Spanish and Portuguese "letter". In English it takes the form "card" or "chart". Most of its uses pertain to its meaning as "paper", "chart", or "map", for example in ''Magna Carta''. Carta may refer ...

* Coinbase * Credit Karma * Databricks * DST Global *

Facebook Facebook is an online social media and social networking service owned by American company Meta Platforms. Founded in 2004 by Mark Zuckerberg with fellow Harvard College students and roommates Eduardo Saverin, Andrew McCollum, Dustin ...

Flipkart Flipkart Private Limited is an Indian e-commerce company, headquartered in Bengaluru, and incorporated in Singapore as a private limited company. The company initially focused on online book sales before expanding into other product categories ...

Glassdoor Glassdoor is an American website where current and former employees anonymously review companies. Headquartered in San Francisco, California, it has additional offices in Chicago, Dublin, London, and São Paulo. Glassdoor also allows its users to ...

* JD.com * Kajabi * Koo *

LinkedIn LinkedIn () is an American business and employment-oriented online service that operates via websites and mobile apps. Launched on May 5, 2003, the platform is primarily used for professional networking and career development, and allows job s ...

* Nextdoor *

Nubank Nubank is a Brazilian neobank and the largest fintech bank in Latin America. Its headquarters are located in São Paulo, Brazil. The company also has engineering offices in Berlin, Germany, Buenos Aires, Argentina, and an office in Mexico ...

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SenseTime SenseTime () is a Hong Kong-headquartered artificial intelligence company with offices in China, Indonesia, Japan, South Korea, Macau, Malaysia, the Philippines, Saudi Arabia, Singapore, Taiwan, Thailand and the United Arab Emirates. The comp ...

Softbank Group is a Japanese multinational conglomerate holding company headquartered in Minato, Tokyo which focuses on investment management. The Group primarily invests in companies operating in technology, energy, and financial sectors. It also runs the ...

Spotify Spotify (; ) is a proprietary Swedish audio streaming and media services provider founded on 23 April 2006 by Daniel Ek and Martin Lorentzon. It is one of the largest music streaming service providers, with over 456 million monthly active us ...

Block Block or blocked may refer to: Arts, entertainment and media Broadcasting * Block programming, the result of a programming strategy in broadcasting * W242BX, a radio station licensed to Greenville, South Carolina, United States known as ''96.3 ...

Stripe Stripe, striped, or stripes may refer to: Decorations * Stripe (pattern), a line or band that differs in colour or tone from an adjacent surface * Racing stripe, a vehicle decoration * Service stripe, a decoration of the U.S. military Entertainme ...

The Viral Fever The Viral Fever, abbreviated to TVF, is an Indian video on demand and over-the-top streaming service and YouTube channel started by TVF Media Labs in 2010, and currently owned and operated by Contagious Online Media Network Private Limited. ...

* UiPath *

Waymo Waymo LLC, formerly known as the Google self-driving car project, is an American autonomous driving technology company headquartered in Mountain View, California. It is a subsidiary of Alphabet Inc, the parent company of Google. Waymo oper ...

Yandex Yandex LLC (russian: link=no, Яндекс, p=ˈjandəks) is a Russian multinational technology company providing Internet-related products and services, including an Internet search engine, information services, e-commerce, transportation, map ...

References

External links

www.tigerglobal.com
(Company Website) {{authority control Tiger Management American companies established in 2001 Financial services companies established in 2001 Financial services companies based in New York City Hedge funds Hedge fund firms in New York City Investment companies based in New York City Private equity firms of the United States Venture capital firms of the United States