Tiger Global raises new $2.5B fund

Tiger Global Management, one of India’s most active investors in startups, has raised $2.5 billion in its latest global fund, according to a filing with the US Securities and Exchange Commission.

A total of 520 investors put money in the new fund, Tiger Global Private Investment Partners X, the filing showed.

The fundraising comes exactly a year after the firm mobilized an equal amount in its Tiger Global Private Investment Partners IX fund. In total, the New York-based hedge fund has raised $6.5 billion since April last year.

Tiger Global has been active in India since 2009 and has invested in a host of ventures as it spotted early the vast opportunity in the consumer Internet segment. In 2015 alone, it has struck 35 investment deals so far, according to data from VCCEdge.

The firm is the largest investor in and has put in about $1 billion in the online marketplace in various rounds of funding. It has also invested in Inc, whose Indian unit competes with Flipkart.

Tiger Global has also reinvested in several portfolio firms to avoid equity dilution in new rounds of funding. For instance, it recently reinvested in grocery and fresh food delivery platform Grofers after committing money in February this year.

While a large part of its Indian portfolio comprises technology and internet-based companies, it has not limited itself to these sectors only. It has invested in taxi aggregator Ola, tea café chain Chaayos, online apparel brand Limeroad, e-commerce firm ShopClues and real estate portal CommonFloor.

The firm has also backed digital media firm Culture Machine, gaming firm Moonfrog Labs, marketplace LocalOye, fintech firm PolicyBazaar, mobile news provider InShorts and jewellery e-tailer Caratlane. Roposo, Freshdesk, Babyoye, Zovi, Hike, CarTrade and Grey Orange are the other firms in its portfolio.

It isn’t immediately clear whether Tiger Global intends to use the new funds to invest in India. An email sent to a spokesperson for Tiger Global did not immediately elicit a response.

The latest fundraising was first reported by The Economic Times. 

The firm's venture capital investments in India are led by Lee Fixel, a partner who has been with the firm since 2006. He is aided by managing director Kalyan Krishnamurthy, who was also the chief financial officer at Flipkart for a while.

Founded in 2001, Tiger Global invests in sectors across internet, technology, real estate, telecommunications, energy, media and retail with a focus on the US, China, India, Southeast Asia, Latin America and Eastern Europe.

Globally, Tiger Global has invested in Southeast Asia-based taxi app GrabTaxi. Its famous investments include Facebook, LinkedIn, Russia’s Yandex and China’s Youku. It has also invested in other US companies such as Craftsy, Quora, Kitchensurfing, Hotel Urbano, Eventbrite, and One King’s Lane.

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