Tiger Global, an investment firm based in New York, has successfully raised $2.7 billion for its latest private equity fund. Although this amount falls short of its initial target of $6 billion, the firm’s ability to secure significant funding is noteworthy.
Since October 2022, Tiger Global has been actively seeking capital for its 16th fund. However, recent regulatory filings submitted to the Securities and Exchange Commission (SEC) reveal that the first close of Tiger Global Private Investment Partners XVI, L.P. in January garnered only $2.68 billion.
Compared to its previous fund, which raised $11.4 billion in February of the previous year, the current fund is already half the size. Remarkably, Tiger Global achieved this milestone just three months after the fund’s initial close in November.
Tiger Global is not alone in its challenges to attract investors. Insight Partners, a private equity and venture capital firm, has also faced setbacks. The firm had to revise its target for its 13th fund from $20 billion to $15 billion due to a significant decline in public company valuations. This “great reset in tech” has affected the value, quantity, and quality of potential start-up investments, as reported by The Financial Times.
In the case of Insight Partners, its 13th fund, which was introduced to investors in June of the previous year, has only managed to raise approximately $2 billion so far.
Tiger Global specializes in investments within the Internet, software, consumer, and payments sectors, encompassing both private and public companies. Some of the notable companies it has invested in include TikTok’s parent company ByteDance, Databricks, Stripe, and Shein.
Moreover, Tiger Global has an extensive portfolio in India, featuring well-known companies such as Flipkart, Zomato, Ola, PolicyBazaar, CRED, ShareChat, Urban Company, BharatPe, and Infra.Market. Since entering the Indian market in 2007, the firm has invested over $6.5 billion, demonstrating its commitment to the country’s burgeoning business landscape.