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 JD.com 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.
