Tiger Global Management LLC, an American investment company, was founded by Chase Coleman III in 2001. It primarily focuses on internet, software, consumer, and fintech companies.
Development History
In 2001, Chase Coleman III established Tiger Technology (later renamed Tiger Global Management, LLC) as a hedge fund investing in public stock markets. In 2003, Scott Shleifer helped Tiger Global expand into the private equity market. Data from the Preqin Venture Report shows that from 2007 to 2017, Tiger Global raised the most funds among venture capital firms.
Tiger Global primarily employs two investment strategies, with roughly equal amounts of capital managed in each. The public equity business uses an equity strategy to invest in publicly traded companies. Notable funds include Tiger Global Investments (the company's flagship long-short fund) and Tiger Global Long Opportunities (long-only).
Private equity, led by Scott Shleifer, targets the U.S., China, and India, investing in growth-stage private companies from early to late stages. It is estimated that Tiger Global will invest about 30% of its funds in early-stage startups (Series A and B) and 20.5% in Series C startups.
Tiger Global has invested in hundreds of companies across more than 30 countries, from initial funding rounds to pre-IPO stages, aiming to partner with market-leading growth companies and dynamic entrepreneurs. These include JD.com, Facebook, LinkedIn, Spotify, Peloton, Credit Karma, Toast, Stripe, ByteDance, Stone, Warby Parker, Flipkart, Meituan, and Didi Chuxing.
In late 2015, quarterly filings with the U.S. Securities and Exchange Commission (SEC) showed that as of September 30th of that year, the value of U.S. stocks held by Tiger Global had increased from $8.1 billion to $12.4 billion, with Apple and Priceline Group accounting for nearly half of the stock.
In February 2016, Tiger Global reported that its holdings of U.S. stocks grew by more than 50% in the fourth quarter of 2015, with a significant increase in shares of Apple and Priceline Group.
In 2020, Tiger Global earned $10.4 billion for its investors, surpassing any other hedge fund on the annual top 20 fund managers list compiled by London's LCH Investments. In March 2022, Tiger Global raised $12.7 billion for a new fund to support fast-growing tech companies in early development stages; the company reported.
However, in 2022, the company experienced significant losses. By June 2022, the value of its hedge funds and long-only funds had fallen by 52% and 62%, respectively, since the start of the year. The Wall Street Journal and Financial Times reported that these losses erased about two-thirds of the value accumulated by the hedge funds and long-only funds throughout their existence. The New York Times described the hedge fund's loss as "one of the largest losses in history," citing an anonymous hedge fund manager who referred to it as "one of the largest in hedge fund history."
