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Tiger Global just closed one of the biggest venture funds ever, with $6.7 billion

This year, Tiger Global has been seen getting involved in a number of mega-rounds, often as the round’s co-lead. This week alone, half a dozen companies have announced rounds that the New York-based investing giant has either led, co-led, or written follow-on checks for.

Investments in highlight and where is the investment money coming from?

To name some – Tiger Global co-led a $ 300 million Series C round for HighRadius, with D1 Capital. It also led $192 million in extended Series C funding for Cityblock Health, and 6sense also received a follow-on check from Tiger Global as part of a $125 million Series D round. The firm is also reportedly in talks to co-lead a $300 million round in a five-year-old, AI chipmaker called Groq.

Tiger Global sent a letter to its investors back in January which said that it was raising $ 3.75 billion for its thirteenth venture fund titled XIV, whereas a new SEC filing shows that the new fund closed with almost twice the amount with $ 6.65 billion.

Some joys and sorrows of Tiger Global since last year

Portfolio company Stripe is now valued at $ 95 billion, followed by a closing of a $ 600 million round earlier this month. Tiger Global owned 10% of Roblox, a gaming company, before a direct listing it staged earlier this month to become a publicly-traded outfit, turning the company’s market cap to $ 38 million. Both these became Tiger’s most recent reasons to celebrate.

As for M&A, Tiger Global saw at least three of its companies swallowed by bigger tech companies last year, including Postmates’s all-stock sale to Uber for $2.65 billion; Credit Karma’s $7 billion sales in cash and stock to Intuit; and the sale of Kustomer, which focuses on customer service platforms and chatbots, for $1 billion to Facebook.

Key investors, biggest wins, and more…

Tiger Global’s investors include a mix of sovereign wealth funds, foundations, endowments, pensions and its own employees, who are collectively believed to be the firm’s biggest investors at this point.

A $200 million bet on the e-commerce giant that produced $5 billion for the firm is one of Tiger Global’s biggest wins to date. According to a WSJ report, it also cleared more than $1 billion on the Chinese online-services platform Meituan, which went public in 2018.

The firm also reaped a massive windfall through its investment in the connected fitness company Peloton. It owned 20% of the firm, at the time of Peloton’s 2019 IPO.

Editorial Team

The Startup World Editorial team is a dedicated group of professionals with a deep affinity for technology and startups. Our diverse team members bring their unique experiences in journalism, content creation, and business development to provide our readers with a comprehensive perspective on the ever-changing world of innovation. At Startup World, the Editorial team is committed to unearthing the hidden gems of the startup landscape and sharing these exciting discoveries with our growing community of enthusiasts, entrepreneurs, and investors.

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