New York-based investment company Tiger Global, has raised $6.65 billion for the thirteenth global fund
Tiger Global, a New York-based investment company, has raised $6.65 billion for the thirteenth global fund, its largest to date, at a time when it is doubling down on India, placing larger bets in the country across various sectors.
The fundraise comes almost a year after it announced that it had raised $3.75 billion in capital commitments for its twelfth fund.
According to the fund’s filings with the US Securities and Exchange Commission, Tiger Global, which has backed Indian internet companies such as Flipkart, Ola, and Zomato, among others, said in January that it was looking to raise $3.7 billion. For its latest fund Tiger Global Private Investment Partners XIV, L.P. announced that it had received commitments from more than 820 limited partners or LPs.
Over the last two years, Tiger has been on a big funding spree in the Indian industry, once again being a very strong investor in the local ecosystem.
Tiger is in talks to make investments with Groww, an online investment site, and Pristyn Care, a healthcare startup based on surgeries.
According to Venture Intelligence, the fund had invested $189 million in six companies as of March 1, including Innovaccer, Infra. Market, Ally, Cred, and Zomato. According to data from Venture Intelligence, the fund has invested $3.4 billion in 83 Indian companies so far.
Tiger Global, which started out as a hedge fund, launched its private equity arm in 2003, led by Chase Coleman and Shleifer. During the 2014-15 era, Lee Fixel, known for his big bets in India, primarily on Flipkart, led the first major bull run for Indian startup financing. In 2019, Fixel left Tiger and started his own fund, Addition. Since Fixel’s departure, Shleifer, who has backed startups in edtech, enterprise, and food distribution, has been in charge of Tiger’s India investment. According to Tracxn numbers, India accounted for nearly a fifth of Tiger’s total investments in 2020.