Tiger Global To Raise $6 Billion For New Venture Fund After Quitting Investment In FTX
As it looks to raise $6 billion for its next venture fund, Tiger Global Management has enlisted the help of Morgan Stanley’s wealth management division. Tiger Global Private Investment Partners 16, the vehicle, will finance startups with an emphasis on enterprise topics and India.
The decision was made in response to the company being forced to write down investments in its private portfolio, which included a bet on the defunct cryptocurrency exchange FTX.
According to Bloomberg News, JPMorgan Chase & Co.‘s wealth-management division made its clients one of the biggest cash contributors to PIP 15, Tiger’s precursor vehicle, by raising $1.9 billion. This year’s first quarter saw the closing of Tiger’s largest-ever venture capital fund, which closed at $12.7 billion.
If it generates $6 billion, the PIP 16 fund, Tiger’s third-largest private vehicle, would invest over a minimum two-year period.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Website: coincu.com
Harold
Coincu News
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Tiger Global To Raise $6 Billion For New Venture Fund After Quitting Investment In FTX
As it looks to raise $6 billion for its next venture fund, Tiger Global Management has enlisted the help of Morgan Stanley’s wealth management division. Tiger Global Private Investment Partners 16, the vehicle, will finance startups with an emphasis on enterprise topics and India.
The decision was made in response to the company being forced to write down investments in its private portfolio, which included a bet on the defunct cryptocurrency exchange FTX.
According to Bloomberg News, JPMorgan Chase & Co.‘s wealth-management division made its clients one of the biggest cash contributors to PIP 15, Tiger’s precursor vehicle, by raising $1.9 billion. This year’s first quarter saw the closing of Tiger’s largest-ever venture capital fund, which closed at $12.7 billion.
If it generates $6 billion, the PIP 16 fund, Tiger’s third-largest private vehicle, would invest over a minimum two-year period.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
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