Tiger Global Raises $11 Billion for Latest Private Fund
Tiger Global Raises $11 Billion for Latest Private Fund
(Bloomberg) -- Tiger Global Management has raised more than $11 billion for its latest venture capital fund, and is targeting another billion dollars before its March close.
The Private Investment Partners 15 fund -- known as PIP 15 -- is on track to close with $12 billion, according to a person familiar with the matter, exceeding the initial fundraising target of $10 billion.
PIP 15, which invests in internet technology startups in the U.S., China and India, is Tiger’s largest one yet, and follows several fundraises in recent years, each bigger than the one preceding it.
The firm’s $65 billion venture capital unit, led by Scott Shleifer, had raised $8.8 billion as of November with about $1.5 billion of that coming from employees, Bloomberg previously reported. By then it had already called about a third of the cash and started putting it to work.
A spokeswoman for Chase Coleman’s $100 billion firm declined to comment.
The Information earlier reported on the fundraising.
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