Despite these setbacks, Tiger Global continues to participate in venture capital deals, albeit with a reduced war chest. The firm struggled to raise its sixteenth fund, closing with only $2.2 billion in commitments, far short of its initial $6 billion target. Leadership changes have also occurred, with key figures like John Curtius and Scott Shleifer stepping back from their roles. As Tiger Global navigates the aftermath of its pandemic-era investments, it remains to be seen how the firm will adapt and recover in the evolving venture capital landscape.
Key takeaways:
- Tiger Global's aggressive investment strategy during the pandemic led to high valuations, but the firm faced significant losses as interest rates rose and valuations dropped.
- The firm's fifteenth venture fund, PIP 15, reported paper losses of over 15% as of June 30, 2024, placing it in the bottom 10% of venture funds raised in 2021.
- Other funds from the same era, such as those from Valor Equity Partners and OakHC/FT, have shown better performance, with positive returns.
- Tiger Global struggled to raise capital for its sixteenth fund, closing with $2.2 billion, significantly less than its initial target, and some key personnel have since left or transitioned to different roles.