Tiger Global Launches $2.2 Billion Fund
Tiger Global has announced the launch of a $2.2 billion private investment fund.
In a note to investors reviewed by The Information, Tiger Global said the fund is expected to do a first close in March. The new fund is the same size as its venture fund raised in April 2024. Both are a fraction of the $12.7 billion flagship fund raised in 2021.
Tiger said that its recent strategy has been to devote two-thirds of its private capital to AI-related businesses. The memo touted its investments in Waymo, OpenAI and chip maker Cerebras.
CNBC earlier reported on the fundraising.
According to the memo, Tiger Global says it has had more than 90 portfolio company IPOs and has distributed $32 billion to its investors in the 22 years since it launched its first “PIP” or private investment fund.