Tiger Global Management began 2021 with a series of high-profile investments in technology companies. The firm now plans on setting up another capital fund worth $10bn.
According to data from PitchBook, since the start of 2021, the company has carried out over 100 investment rounds within 120 days raising a cumulative total of $22.2 bn from private tech companies.
The company has a stellar reputation for dealmaking, reflecting the boom in capital inflows into private tech startup companies. If actualized, the fund will be by far the largest raised by an independent fund manager looking to acquire minority stakes in private technology companies. Last year, Tiger Global’s private investment funds delivered $2.2bn in proceeds, after fee deductions. The deductions were primarily arrived at from acquisitions.
We earlier captured the Tiger Global Investments’ participation in some Africa investments such as the $170,000,000 investment into Flutterwave in March 2021 in a Serie C. Other past investments are in a Series C worth $100,000,000 into E-Commerce & Retail startup Takealot, and a Series D into Media & Entertainment company iROKOtv.
The new overflow in the capital is driven by lower interest rates that are pushing sovereign funds and several other institutional investors to move into riskier assets. Other funds that have captured headlines with record raises are Japanese conglomerate Softbank’s $100bn first Vision Fund, and Insight Partners, a VC and PE fund looking to raise $12bn for a new flagship fund in 2021. Insight’s fund also invests in buyouts that give the company a controlling stake.
Source article on FT