Just this month, On Deck Capital, Hotel Urbano, Eventbrite and Credit Karma announced financing rounds totaling over $270 million in aggregate funding. The common thread between the companies is Tiger Global Management, which invested in all four of the rounds and whose private equity arm led by Lee Fixel and Scott Shleifer make it the most active hedge fund in private company investing. Tiger Global’s prolific investment pace comes at a time when public market investors including hedge funds, mutual funds and investment banks like Goldman Sachs are all ramping up deal activity to fast-growing private tech companies.
Using CB Insights data, we examined the stages and industries of the tech firms that Tiger Global has invested in, as well as its most well-funded portfolio companies – many who are part of the Tech IPO Pipeline. The data below.
Tiger Global Private Tech Investment Trend
Between 2010 and 2013, Tiger Global has participated in 85 disclosed private company transactions totaling $3.75B. Ten of those transactions were in $100M+ including deals to Flipkart, Pure Storage and VANCL. While deal and funding totals with Tiger Global participation hit a high in 2013, the investment firm has already gotten off to a fast start in 2014, participating in seven deals totaling nearly $460M.
Tiger Global Private Tech Investment Trend By Stage
Nearly 1/2 of Tiger Global’s private tech investments have gone to mid-stage companies at the Series B or Series C stage including NextDoor, FreshDesk and Wego. Series D+ and growth rounds made up nearly 30% of Tiger Global’s deals in the period. Interestingly, the fund has also completed a fair share of Series A deals, mostly to internationally-based eCommerce startups.
Tiger Global Private Tech Investment Trend By Industry
If there is one industry that Tiger Global is bullish on, it’s eCommerce. 2/3rds of Tiger Global’s deals over the past four years went to Internet eCommerce companies specializing in everything from jewelry and real estate to home furnishings and travel. Internet and mobile SaaS companies took almost 30% of deal activity. Tiger Global is also an investor in BI and data-mining firm Palantir Technologies.
Tiger Global Private Tech Investment Trend By Geography
Tiger Global has invested in private tech companies around the world from Russia and China to Brazil and Argentina. Peeling back Tiger’s unique company investments by geography, we see that U.S. and India-based companies make up the highest share of Tiger Global’s private tech investments.
Tiger Global Most Well-Funded Private Tech Investments
Below are the top 10 most well-funded private tech companies that Tiger Global has invested in. Like Goldman Sachs, Tiger’s list includes several companies on our Tech IPO Pipeline list. Jingdong Mall, which is said to be planning an IPO at a valuation over $20B, tops the list followed by Palantir and Indian eCommerce firm Flipkart. (Note: Secondary market and debt financings are not included).
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