Tiger Global raises thirteenth global fund of $6.65 billion
New York-based investment firm Tiger Global has raised its thirteenth global fund of $6.65 billion, its largest corpus so far, at a time when it is increasing its presence in India taking bigger bets in the country across various sectors.
The fundraise comes almost a year after it announced it had racked up its twelfth fund of $3.75 billion in capital commitments.
As per the filings made by the fund to the US SEC, Tiger Global, which has backed Indian internet companies like Flipkart, Ola, and Zomato, among many others, had stated in January that it is planning to raise about $3.7 billion. It revealed getting commitments from over 820 limited partners or LPs for its new fund Tiger Global Private Investment Partners XIV, L.P.
Tiger has been on a huge funding spree in the Indian market over the last two years, again emerging as a very active investor in the local ecosystem.
ET reported earlier that Tiger is in talks with Groww, an online investment platform, Pristyn Care, a healthcare startup focused on surgeries to make investments.
According to data from Venture Intelligence, up to March 1, the fund had pumped in $189 million in six companies such as Innovaccer, Cred, Infra.Market, Ally, and Zomato. To date, the fund has invested $3.4 billion across 83 companies in India, data from Venture Intelligence revealed.
Originally a hedge fund business when it started, Tiger Global rolled out its private equity arm in 2003 headed by Chase Coleman and Shleifer. Lee Fixel, known for his big bets in India essentially on Flipkart, led the first significant bull run for Indian startup financing during the 2014-15 period. Fixel left Tiger in 2019 and launched his own fund, Addition. Helming the India investment for Tiger following Fixel’s departure is Shleifer who has backed startups across edtech, enterprise, and food delivery. Nearly one-fifth of the fund’s aggregate investments by Tiger in 2020 was in India, data from Tracxn revealed.
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