In eighth global VC fund, Tiger Global raises $1.5B
The hedge fund cum early stage tech investment firm, Tiger Global Management LLC, which has been one of the most aggressive backers of Indian tech firms with investments in firms such as Flipkart and Myntra, has now in its eighth global venture capital fund focused on later-stage raised $1.5 billion, privately held technology companies, according to a SEC filing.
Participation from 415 investors/limited partners has been received by the fund, called Tiger Global Private Investment Partners VIII.
Tiger Global had seven VC funds with assets of over $6 billion, before the new fund which have now risen to over $7.5 billion. In its seventh VC fund as well in 2012, the hedge fund had raised nearly $1.5 billion. For its sixth VC fund earlier it had raised around $1.25 billion.
Founded in 2001, Tiger Global, with a focus on the US, China, India, Southeast Asia, Latin America and Eastern Europe, invested in sectors across internet, technology, real estate, telecommunications, energy, media and retail.
Led by Tiger Global, California-headquartered Quora Inc., the company behind the question-and-answer platform Quora.com had secured $80 million. Participation was also done by Existing investor and PayPal co-founder Peter Thiel, early-stage VC firm Benchmark and Matrix Partners in this round.
In India Two of Tiger Global’s portfolio companies count the country’s top e-commerce firm Flipkart and online fashion apparel and accessories retailer Myntra.These two firms are also planning to go for merger.
As Myntra chief Mukesh Bansal has been divergent to the idea of a merger, it is known to be championed by Tiger Global and Accel Partners, a common investor. In the two ventures, Belgium’s Sofina is another common investor.
Tiger Global has also encouraged by firms like Commonfloor, Olacabs, Caratlane, Freshdesk, Babyoye, Zovi, Just Dial and MakeMyTrip in India.
Source: VC Circle
Accel Partners, Belgium’s Sofina, California-headquartered Quora Inc, Hedge Fund, India, Latin America and Eastern Europe, Tiger Global Management LLC, Tiger Global Private Investment, Tiger Global Private Investment Partners VIII
