Tiger Global to focus on Indian startups with $3 billion fund

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

Tiger Global Management, a New York-based investment firm, is expected to scale up investments in India from its new $3 billion fund called Tiger Global Private Investment Partners XI, according to people aware of the development.

This hedge fund was monumental in shaping the Indian startup ecosystem, is one of the early entrants in the Indian market and known for backing India’s e-commerce giant Flipkart.

Tiger Global’s Lee Fixel was instrumental in India’s biggest corporate deal helping Walmart acquire 77% of Flipkart for a mammoth $16 billion. The fund had invested $1 billion in the e-commerce giant, since 2009 and made more than $3.3 billion from the deal, it still owns about 5% stake in Flipkart.

However, it had stopped making any new investments in the country and was backing its earlier investments like Grofers, NestAway, Freshworks, and Ola, among many others.

“The new fund is expected to close in the next few weeks and India is specifically mentioned as one of the focus areas in the documents,” said one of the persons familiar with the development. The fund will also invest in other geographies including the US and China.

Tiger Global is speculated to be focusing on growth stage companies valued at around $200-250 million in sectors like e-commerce, logistics tech, business-to-business commerce, and digital media/content.

During the period of 2015-16, Tiger Global’s investment in portfolio companies like Ola and Flipkart had raised its India exposure to $2 billion.

Questions over the fate of its investments in Flipkart and Ola forced Tiger Global to re-think its future investments in India, including in portfolio companies. This was also because Fixel believed that India’s Internet economy was not growing as rapidly as that of China’s.

The fresh interest of Tiger Global is a good news for the Indian startup ecosystem that is gaining trust from the international community.

In a recent news, Sequoia Capital had closed its sixth India-focused fund. In July, Ganesh Ventures had partnered with Alibaba-backed eWTP for India focused funds.

Other global investment firms interested in the Indian market include Accel Partners, Blume Ventures, Nexus Venture Partners, Matrix Partners, and Lightspeed Venture Partners, among others.


Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Army kills 35 Jaish, Hizb militants across LoC

Srinagar, Oct 20 (IANS) At least 35 Jaish-e-Mohammed and Hizbul Mujahideen militants were killed in retaliatory firing and shelling...

Steven Spielberg: I was ashamed of lots of things

Los Angeles, Oct 20 (IANS) Filmmaker Steven Spielberg was ashamed of a lot of things while growing up, and says he was bullied for...

Why has Elon Musk suddenly gone offline?

San Francisco, Oct 20 (IANS) It has been a couple of days since SpaceX CEO Elon Musk, who has courted several controversies with his...

Smartphone can help patients take pills on time

Buenos Aires, Oct 20 (IANS) The smartphone is now frequently blamed for a lot of health problems, but it appears that the device may...

AI, digital marketing key skills to boost growth

New Delhi, Oct 20 (IANS) Artificial Intelligence (AI) and Machine Learning (ML), digital marketing and design thinking are the top skills that organisations will...
- Advertisement -

More Articles Like This