Tiger Global Management is on a mission to raise a humongous sum of $6 billion for a new investment fund that invests in privately-held tech firms, according to Axios.
The amount seems high but is half of what it raised previously, reflecting a decrease in startup funding round sizes and valuations.
Tiger has already invested in more than three dozen crypto and blockchain startups since 2020, and the company's existing portfolio companies include TikTok parent ByteDance, Databricks, Stripe, ByteDance and Shein.
Axios reported that "Tiger's letter reports that its Private Investment Partners funds have called over $36 billion since inception in 2003, distributed $30 billion and generated a net IRR of 24%."
As per Tiger: "The funds have generated positive IRRs in every vintage year of investment and consistently robust distributions, with each of our first 10 funds having returned between 130% and 1,058% of called capital."
Tiger has invested most of its existing funds in early-stage...
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