Tiger Global closes massive $6.7bn venture fund

2 Apr 2021

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The tech investor counts Stripe and Flipdish among its bets and has been cutting several big cheques in recent weeks.

Major tech investor Tiger Global Management has closed a giant $6.7bn venture fund as it continues to pump money into large start-up rounds.

Details of the fund emerged in an SEC filing first spotted by TechCrunch. It is the New York firm’s 13th fund and follows last year’s $3.75bn fund.

Tiger Global is one of tech’s biggest and most prolific investors. It made early bets on Facebook and Airbnb that paid off, while it continues to cut large cheques for companies, especially during the pandemic when it has joined several big funding rounds.

In the last week alone, it pumped funds into B2B software company 6Sense’s $125m round, delivery firm Getir’s $300m Series C round and fintech company HighRadius’s $300m round.

Closer to home, the firm recently made a €40m investment in Dublin online food ordering software company Flipdish to finance the company’s growth in several European markets and the US.

It is also a shareholder in Stripe, a bet that is proving to be a smart one as the payments giant recently hit a $95bn valuation.

The modus operandi of Tiger Global’s new fund remains to be seen but the typical profile of its latest investments has been companies at Series B and Series C rounds that are scaling quite rapidly. The investment in Turkey’s Getir is a prime example  the tech company has raised three large rounds over the last 18 months to fuel its expansion in the extremely busy online delivery space.

As well as food delivery, fintech and B2B software have proven to be common bets for Tiger Global and its peers in Silicon Valley, many of which are also closing big funds from limited partners to continue investing through the pandemic and as recovery comes in sight.

In February, Bessemer Venture Partners, an early backer of LinkedIn and Pinterest, raised two funds totalling $3.3bn with one fund focusing on early-stage investing and the other on scaling firms.

In Europe, VCs have continued to raise funds as well. This week Singular, a new French VC fund, emerged with a €225m war chest.

Frontline Ventures recently closed a €70m round to back young European start-ups that are looking to go global.

Jonathan Keane is a freelance business and technology journalist based in Dublin