Tiger Global Management

Tiger Global Management is a hedge fund and investment firm based in New York. It was founded in 2001 by Chase Coleman, who previously worked as a technology analyst at Tiger Management, one of the first hedge funds established in 1980. Tiger Global Management is known for its investments in venture capital, long-short public equities, private equity, and other asset classes.

As a hedge fund, Tiger Global Management manages a significant amount of capital, with over $4 billion under management. It is one of the largest non-specialist venture investors globally. The firm has gained a reputation for quick execution and a no-nonsense approach to investing. While Tiger Global Management has been active in venture capital globally, there have been recent management turnovers that have resulted in reduced activity in VC-style deals since 2019 onwards.

Tiger Global Management, LLC (previously known as Tiger Technology Management LLC) is an American investment firm founded by Chase Coleman III in March 2001. It is headquartered in the Solow Building in New York City. The firm primarily focuses on investments in Internet, software, consumer, and financial technology companies.

Chase Coleman III was a former technology analyst for Tiger Management, working under Julian Robertson from 1997 to 2000. After Tiger Management closed in 2000, Coleman received over $25 million from Robertson to manage, making him one of the "Tiger Cubs," a group of fund managers who started their careers at Tiger Management.

Initially established as Tiger Technology, the firm later changed its name to Tiger Global Management. It started as a hedge fund investing in public equity markets but expanded into the private equity market in 2003 under the guidance of Scott Shleifer.

Tiger Global Management has been successful in raising significant capital for its venture capital investments. According to the Preqin Venture Report, the firm raised the highest amount of capital among venture capital firms from 2007 to 2017. In 2020, Tiger Global Management achieved notable success, earning its investors $10.4 billion, the highest among all hedge funds listed by London-based LCH Investments.

The firm continues to be active and raise funds for investments. In March 2022, Tiger Global raised $12.7 billion for a new fund aimed at backing fast-growing technology companies in their early stages.

However, in 2022, the firm experienced significant losses. By June 2022, the hedge fund and long-only fund of Tiger Global had declined 52% and 62% in value, respectively, since the beginning of the year. These losses were reported to be some of the largest in the history of hedge funds.

Tiger Global Management operates two main strategies: the public equity business and the private equity business. The public equity business focuses on investing in publicly traded companies using equity strategies. Notable funds include Tiger Global Investments and Tiger Global Long Opportunities. The private equity business, led by Scott Shleifer, targets growth-oriented private companies in the early to late stages, with a focus on businesses in the U.S., China, and India. Tiger Global Management has a global presence, with offices in New York, Hong Kong, Beijing, Singapore, and Bangalore.

The firm has made notable venture capital investments in companies such as Alibaba, Block Inc., ByteDance, Carta, Coinbase, Credit Karma, Databricks, Facebook, Flipkart, Glassdoor, JD.com, LinkedIn, Nubank, Spotify, Stripe, UiPath, Waymo, and Yandex, among others. These investments showcase the firm's interest in technology-driven companies across various sectors.

Tiger Global Management follows a specific set of investment criteria when making investment decisions. While the firm is known for its focus on technology companies, its investment criteria encompass various factors that help identify promising investment opportunities. Here are some key aspects of Tiger Global Management's investment criteria:

• Technology Focus: Tiger Global Management primarily focuses on investing in companies within the technology sector. This includes internet, software, consumer, and financial technology companies. The firm seeks out innovative businesses that are disrupting traditional industries and have the potential for significant growth.
• Growth-Oriented Companies: Tiger Global Management targets companies with high growth potential. They look for businesses that have demonstrated strong revenue growth and possess a sustainable competitive advantage in their respective markets. These companies should have the potential to become industry leaders and deliver substantial returns over the long term.
• Market Size and Opportunity: The firm considers the market size and the growth potential of the industry in which a company operates. Tiger Global Management looks for companies that address large and expanding markets, as this increases the potential for significant growth and scalability.
• Strong Management Team: The quality and experience of the management team play a crucial role in Tiger Global's investment decisions. They seek companies led by competent and visionary leaders who have a track record of success and possess the ability to execute the company's growth strategy effectively.
• Competitive Advantage: Tiger Global Management looks for companies that have a sustainable competitive advantage. This could be through proprietary technology, unique intellectual property, strong brand recognition, or a dominant market position. The presence of a competitive moat helps protect a company's market share and increases its chances of long-term success.
• Business Model and Scalability: Tiger Global Management evaluates the business model of potential investments to ensure it is scalable. They look for companies that can efficiently grow their operations without being limited by factors such as geographic constraints or high capital requirements. Scalable business models often allow for rapid expansion and increased market penetration.
• Global Reach: Tiger Global Management has a global investment approach and seeks opportunities both in the United States and internationally, particularly in emerging markets like China and India. The firm aims to capitalize on the growth potential of these regions and identifies companies with the ability to expand globally.

Tiger Global Management operates based on a set of core values that guide its investment approach and business practices. These values shape the firm's culture and decision-making process. Here are some key values associated with Tiger Global Management:

• Entrepreneurial Spirit: Tiger Global Management values and fosters an entrepreneurial spirit. The firm seeks out investment opportunities with visionary founders and management teams who demonstrate a strong drive, passion, and innovative thinking. They believe in supporting and partnering with entrepreneurs who have the potential to disrupt industries and create significant value.
• Long-Term Perspective: Tiger Global Management takes a long-term perspective when it comes to investing. The firm focuses on identifying companies with sustainable competitive advantages and substantial growth potential over an extended period. They are patient investors and are willing to hold investments for the long term, allowing the companies they invest in to achieve their growth objectives.
• Data-Driven Decision Making: Tiger Global Management emphasizes data-driven decision-making. The firm conducts thorough analysis and due diligence, leveraging data and market insights to inform its investment decisions. They believe that rigorous analysis and a deep understanding of the market dynamics are essential for successful investments.
• Global Outlook: Tiger Global Management has a global outlook and seeks investment opportunities not only in the United States but also in international markets. The firm recognizes the potential for significant growth in emerging markets and actively seeks out opportunities in regions such as China and India. They value diversity and aim to capitalize on the global market's potential.
• Collaborative Approach: Collaboration is a key value at Tiger Global Management. The firm's investment team works closely together, leveraging their diverse expertise and perspectives to make informed investment decisions. They also collaborate with the management teams of the companies they invest in, providing support, guidance, and resources to help them achieve their growth objectives.
• Integrity and Professionalism: Tiger Global Management upholds high standards of integrity and professionalism in all aspects of its operations. The firm values transparency, honesty, and ethical behaviour. They maintain strong relationships with their investors and portfolio companies, fostering trust and long-term partnerships.
• Continuous Learning and Adaptation: Tiger Global Management values continuous learning and adaptation. They recognize the importance of staying informed about market trends, technological advancements, and industry developments. The firm is open to evolving investment strategies and approaches to adapt to changing market conditions and seize new opportunities.

Tiger Global Management's mission is to identify and invest in the most promising companies across various sectors and stages of growth. The firm seeks to generate superior returns for its investors by partnering with exceptional entrepreneurs and supporting their vision to build transformative businesses. Tiger Global Management aims to be a trusted and strategic partner, providing not only capital but also expertise, resources, and guidance to help portfolio companies achieve their full potential.

At the core of Tiger Global Management's mission is the belief in the power of innovation and disruption. The firm strives to identify companies that are at the forefront of technological advancements, creating innovative solutions and disrupting traditional industries. By investing in these companies, Tiger Global Management aims to drive positive change and contribute to the growth and evolution of industries worldwide

Tiger Global Management is a prominent investment firm with a diversified portfolio that includes investments in various industries and regions. Here is an overview of some notable investments made by Tiger Global Management historically:

• Alibaba: Tiger Global Management made an early investment in the Chinese e-commerce giant Alibaba, which has grown to become one of the world's largest online retail companies.
• Facebook: The firm made an early investment in Facebook, the leading social media platform that has revolutionized the way people connect and share information globally.
• JD.com: Tiger Global Management invested in JD.com, one of China's largest e-commerce companies, specializing in online retail and logistics.
• Spotify: Tiger Global Management participated in funding rounds for Spotify, the popular music streaming platform that has disrupted the music industry worldwide.
• Stripe: The firm has invested in Stripe, a global payment processing company that provides online businesses with a streamlined and secure payment infrastructure.
• UiPath: Tiger Global Management has backed UiPath, a leading robotic process automation (RPA) software company that enables businesses to automate repetitive tasks and increase operational efficiency.
• Coinbase: Tiger Global Management has invested in Coinbase, a cryptocurrency exchange platform that allows users to buy, sell, and store various digital currencies.
• Waymo: The firm has made investments in Waymo, a self-driving technology company and a subsidiary of Alphabet Inc., focused on developing autonomous vehicles.