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Tiger Global closes biggest venture fund of the decade

Tiger Global has closed its 11th fund on $3.75 billion, making it the world’s largest VC vehicle of the last 10 years. We took a look at which other funds round out the top 10.

Tiger Global has picked up $3.75 billion for its 11th flagship venture capital fund, surpassing an initial target of $3 billion, according to multiple reports.

That makes it the biggest VC fund raised anywhere in the world in the last decade, per PitchBook data:

The chart above doesn’t include SoftBank‘s $100 billion Vision Fund because, although SoftBank is a major tech investor, the vehicle is technically defined as a private equity fund. And Sequoia, the Silicon Valley powerhouse that’s targeting $8 billion for its latest global growth vehicle, is not included because the fund has not yet officially closed. Sequoia partner Doug Leone indicated during a talk at the TechCrunch Disrupt conference in September that the firm had closed the fund, but no other announcement or regulatory filing has followed.

Tiger Global, which was founded in 2001 and is headquartered in New York, will reportedly deploy its latest fund on tech investments across several sub-sectors, including cloud and consumer internet businesses. Another focus will be direct-to-consumer companies located in the US, India and China.

A continued focus on tech seems like a smart move, as several of Tiger Global’s other bets in the space have proven quite successful. The firm reportedly made a $3 billion profit on its original $1 billion investment in Flipkart when Walmart bought the India-based ecommerce company earlier this year. Tiger Global was also one of the biggest shareholders in Spotify when the music-streaming company went public back in March, with a 7.2% pre-IPO stake worth a reported $2 billion.

Other well-known companies in Tiger Global’s expansive portfolio include Allbirds, the sneaker startup that reached a $1.4 billion valuation last week; Juul Labs, the e-cigarette business that’s worth a reported $15 billion; and Postmates, the food-delivery unicorn.

This post was updated on October 30, 2018 with more specific information about Sequoia’s $8 billion growth fund.

  • dana-headshot.jpg
    Written by Dana Olsen

    Dana Olsen was a senior writer at PitchBook, covering all things venture capital. She has a BA from UC Santa Barbara and a JD from Loyola Law School.

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