New York-based investment firm
Tiger Global has raised its thirteenth
global fund of $6.65 billion, its biggest
corpus so far, at a time when it is doubling down on
India taking bigger bets in the country across various sectors.
The fundraise comes almost a year after it said it had racked up its twelfth fund of $3.75 billion in capital commitments.
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As per the filings made by the fund to the US SEC, which was reviewed by ET, Tiger Global, which has backed Indian internet companies like Flipkart, Ola and Zomato, among many others, had said in January that it is looking to raise around $3.7 billion. It disclosed getting commitments from more than 820 limited partners or LPs for its new fund Tiger Global Private Investment Partners XIV, L.P.
Tiger has been on a major
funding spree in the Indian market over the last two years, again becoming a very active investor in the local ecosystem.
ET reported earlier that Tiger is in
talks with Groww, an online investment platform,
Pristyn Care, a healthcare startup focused on surgeries to make investments.
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According to data from Venture Intelligence, up to March 1, the fund had pumped in $189 million in six companies such as Innovaccer, Infra.Market, Ally, Cred and Zomato. Till date, the fund has invested $3.4 billion across 83 companies in India, data from Venture Intelligence showed
Primarily a hedge fund business when it started off, Tiger Global launched its private equity arm in 2003 headed by Chase Coleman and Shleifer. Lee Fixel, known for his big bets in India primarily on Flipkart, led the first major bull run for Indian startup financing during the 2014-15 period. Fixel left Tiger in 2019 and launched his own fund, Addition.
Helming the India investment for Tiger since Fixel’s departure is Shleifer who has backed
startups across edtech, enterprise, food delivery. Almost one-fifth of the fund’s total investments by Tiger in 2020 was in India, data from Tracxn showed.