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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.

Tiger Global To Raise $6 Billion For New Venture Fund After Quitting Investment In FTX 2

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.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.