Tiger Global mulling new $1.5B global VC fund
Tiger Global Management LLC, the hedge fund managed by industry mogul Charles Coleman, has kicked off process to raise its eighth venture capital fund focused on later-stage, privately-held technology companies, as per a report by the Fortune citing sources.
At present it has seven VC funds with assets of over $6 billion which will rise to over $7.5 billion if the rumours of new fund turns out to be true.
It had raised nearly $1.5 billion in its seventh VC fund in 2012 and is looking at a similar amount for the proposed eighth fund. Tiger Global had raised around $1.25 billion for its sixth VC fund.
The Fortune report added that the company has appointed Jason Tan as managing director for its Hong Kong operations.
Tiger Global invests in sectors across internet, technology, real estate, telecommunications, energy, media, and retail with a focus on the United States, China, India, Southeast Asia, Latin America, and Eastern Europe.
In India it has backed firms like Flipkart, Olacabs, Caratlane, Myntra, Freshdesk, Babyoye, Commonfloor, Zovi, Just Dial and MakeMyTrip among others.