Tiger Global Management, which started the year with a professional blizzard, wants to create another big pool of start-ups by raising a $ 10bn fund from investors.
So far in 2021, Tiger Global has participated in $ 100 billion in more than 120 days that has raised $ 22.2bn in technology companies, according to a PitchBook study.
His most recent fund comes just weeks after Tiger Global raised what eventually became a $ 6.7bn fund, when it started looking for $ 3.8bn. He told financiers in their recent call that they would start looking for the next fund capital, according to the people surveyed.
The company’s proliferation in this scandal reflects an increase in the technology industry, while investors say Tiger Global has succeeded in some sales by moving faster and offering higher prices than its competitors.
Some of his biggest bets were Brex, a credit card startup company, ShareChat, an Indian media company, and Getir, a Turkish food delivery program.
“The opportunities available in the public and private markets in the areas where we use the most, consumer, and economic expertise in the US, China, and India are enormous compared to the amount of money we manage and change at a rate that is often difficult to understand, ”Tiger Global wrote a letter to investors in February.
Advertisers poured $ 69bn offshore globally in the first quarter, according to PitchBook data, inspired by the amount of revenue they have acquired and public offerings that have given a significant share to those who first sold it.
Tiger Global’s new fund could be a huge boost for the independent financial manager’s investment in low-cost technical planning, according to PitchBook. The company declined to comment on the funding.
Several other companies expect to raise billions of dollars in recent years, as low interest rates push private investment and other businesses into risky businesses.
SoftBank, a Japanese company, raised $ 100bn for its first Vision Fund that focused on technical expertise, and about a quarter of the total revenue came from SoftBank itself.
Insight Partners, a fundraiser and financial institution, is seeking $ 12bn of the new fund at its highest level this year, according to one strategist. Unlike Tiger Global, Insight also sells products that give the company leadership in the industry.
Tiger Global Investment Fund shared $ 2.2bn in payments last year, following a fine, according to a letter to investors. The distribution mainly comes from consumer spending, such as Uber’s $ 4.4bn purchase for Postmates startups and the $ 8.2bn partnership of fintech Credit Karma company, Tiger Global said.
Reimbursement of private securities returns 26% per annum after a fine from 2004 to 2020, according to a letter to depositors. This compares with a 21% annual return on Tiger Global pockets over the past two decades.