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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. It mainly focuses on Internet, software, consumer, and financial technology industries.


Background and history

Chase Coleman III Charles Payson "Chase" Coleman III (born June 1,1975) is an American billionaire hedge fund manager, and the founder of Tiger Global Management. As of April 2023, his net worth is estimated at US$8.5 billion by ''Forbes'' making him the 251st ric ...
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 ...
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 equi ...
. 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 A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (list ...
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 t ...
market. From the period of 2007 to 2017, according to the
Preqin Preqin is a privately held London-based investment data company that provides financial data and insight on the alternative assets market, as well as tools to support investment in alternatives. By the company's own definition, its data encompa ...
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 startups, early-stage, and emerging companies that have been deemed to have high growth potential or which h ...
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, Nik ...
'' 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 A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (list ...
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
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 t ...
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 China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's List of countries and dependencies by population, most populous country, with a Population of China, population exceeding 1.4 billion, slig ...
and
India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area, the List of countries and dependencies by population, second-most populous ...
. 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 Lee Jared Fixel is an American venture capitalist and investor. Early life and education Fixel was born in 1980 and was raised near Fort Lauderdale, Florida. He is the eldest of three children and has two younger sisters. Fixel earned a Bachelo ...
until March 2019. Tiger Global is based in
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 * '' ...
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 List of cities in China, city and Special administrative regions of China, special ...
,
Beijing } Beijing ( ; ; ), Chinese postal romanization, alternatively romanized as Peking ( ), is the Capital city, capital of the China, People's Republic of China. It is the center of power and development of the country. Beijing is the world's Li ...
,
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, bor ...
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

* Alibaba *
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* Carta *
Coinbase Coinbase Global, Inc., branded Coinbase, is an American publicly traded company that operates a cryptocurrency exchange platform. Coinbase is a distributed company; all employees operate via remote work and the company lacks a physical headqua ...
*
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Databricks Databricks is an American enterprise software company founded by the creators of Apache Spark. Databricks develops a web-based platform for working with Spark, that provides automated cluster management and IPython-style notebooks. History Data ...
*
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*
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*
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* JD.com *
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* Koo *
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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