US-based hedge fund Tiger Global has raised US$11 billion for its latest fund, a source briefed on the matter told The Information.
Called Private Investment Partners 15, the new fund is expected to close in March this year with a total size of US$12 billion, exceeding Tiger Global’s initial US$10 billion target, the person said.
The report noted that external investors have pumped around US$2 billion into Private Investment Partners 15 over the last three months, signaling strong investor demand even as the performance of Tiger Global portfolio firms dwindles.
Tiger Global was founded in 2001 and has since invested in global internet, software, consumer, and fintech firms, among others. Its portfolio includes the likes of Alibaba, Microsoft, Salesforce, and Netflix, and the hedge fund is also one of the most active early investors in India’s unicorn companies.
See Also: A list of India’s unicorns and their early investors (Updated)
Most recently, Tiger Global co-led the US$250 million funding round of Indian subscription management platform Chargebee with Sequoia Capital.
Editing by Collin Furtado and Jaclyn Tiu
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