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<ul class="summary-list"><li><a target="_blank" href="https://openai.com/index/scale-the-benefits-of-ai/">OpenAI announced </a>it raised $6.6 billion in new funding at a $157 billion post-money valuation.</li><li>Tiger Global Management is part of this round, according to two sources familiar with the matter.</li></ul>Tiger Global Management is doubling down on OpenAI, investing in the ChatGPT maker's massive new funding round, according to a source familiar with the matter.<a target="_blank" class="" href="https://openai.com/index/scale-the-benefits-of-ai/">OpenAI announced Wednesday</a> it raised $6.6 billion in new funding at a $157 billion post-money valuation. Thrive Capital is leading the round, <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-10-02/openai-has-closed-new-funding-round-raising-over-6-5-billion">according to Bloomberg.</a> Other investors in this round include Cathie Wood's ARK Venture Fund, Microsoft, Nvidia, Fidelity, and Altimeter. The amount of Tiger's investment couldn't be learned but investors are required to put in a minimum of $250 million, <a target="_blank" class="" href="https://affiliate.insider.com?h=a0c21b230525bf43625dbbc3d14ea971dc3c92b4e4e7def513d06d904be22f70&amp;postID=66fd7dd8d8616474985cc10e&amp;postSlug=tiger-global-openai-latest-funding-round-2024-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Ftiger-global-plans-to-join-openais-funding-round">The Information previously reported.</a>Tiger Global, founded by Chase Coleman, <a target="_blank" class="" href="https://www.businessinsider.com/tiger-global-changed-venture-capital-startups-funding">invested at a furious pace</a> during the tech boom, making 335 investments in 2021, according to Crunchbase. As the market soured, the firm <a target="_blank" class="" href="https://www.businessinsider.com/crossover-funds-tiger-global-d1-deals-2024-2023-12">has been much quieter,</a> but it did purchase $125 million of OpenAI shares at the end of 2021.The closure of OpenAI's new funding round comes just a week after <a target="_blank" class="" href="https://www.businessinsider.com/openai-implosion-investors-vcs-2024-9">three of its top leaders suddenly resigned.</a> Last week, former CTO Mira Murati, former Chief Research Officer Bob McGrew, and former VP of Research for Post Training Barret Zoph announced they were <a target="_blank" rel="" href="https://www.businessinsider.com/sam-altman-openai-note-more-staff-exits-barret-bob-2024-9">leaving the company</a>.<a target="_blank" rel=" nofollow" class="" href="https://www.reuters.com/technology/artificial-intelligence/openai-remove-non-profit-control-give-sam-altman-equity-sources-say-2024-09-25/">Reuters reported</a> last week that OpenAI is currently working to transform its corporate structure to become a <a target="_blank" rel="" class="" href="https://www.businessinsider.com/open-ai-sam-altman-equity-stake-valuation-private-nonprofit-9">for-profit benefit corporation</a> no longer under the control of the company's non-profit arm.

Tiger Global is backing OpenAI in new $6.6 billion investment round

<ul class="summary-list"><li>Kong offers a cloud-based API, the pipes through which much of the internet flows.</li><li>The startup is valued at around $2 billion in a new funding round led by Tiger Global Management, sources say.</li></ul>Kong, which offers cloud-based application programming interfaces, is valued at around $2 billion in a new funding round led by <a target="_blank" class="" href="https://www.businessinsider.com/tiger-global-openai-latest-funding-round-2024-10">Tiger Global Management,</a> according to two sources familiar with the matter.The sources asked to remain anonymous because they were sharing confidential information. Kong did not respond to a request for comment. Tiger Global declined to comment.Kong last raised $80 million in Series D funding in 2020, which valued the startup at $1.4 billion. This round was also led by Tiger, according to Pitchbook data. Sapphire Ventures, Lombardstreet Ventures, Index Ventures, CRV, Andreessen Horowitz, and Notable Capital also participated in that round. Other past investors include Goldman Sachs. All told, the company has raised $268 million, excluding this latest round of funding. Founded in 2009 as Mashape in an Italian garage by Augusto "Aghi" Marietti and Marco Palladino, Kong spun out in 2017 and <a target="_blank" class="" href="https://konghq.com/company/press-room/press-release/100m-arr">boasted </a>of having over $100 million in annual recurring revenue last year.APIs are the pipes through which much of the modern internet flows, and Kong counts PayPal, Nasdaq, and Volvo among its customers."It's basically become the nervous system of the internet," <a target="_blank" class="" href="https://www.businessinsider.com/how-kong-surpassed-100-million-in-annual-recurring-revenue-2023-12">Marietti told BI last year.</a>Last week, Tiger Global also <a target="_blank" class="" href="https://www.businessinsider.com/tiger-global-openai-latest-funding-round-2024-10">doubled down on OpenAI,</a> investing in the ChatGPT maker's massive <a target="_blank" class="" href="https://www.businessinsider.com/openai-investors-latest-funding-round-2024-10">new $6.6 billion funding round.</a>

Cloud API startup Kong valued at around $2 billion in a new funding round led by Tiger Global

<ul class="summary-list"><li>Insider is putting together a list of the best up-and-coming venture capitalists of 2024.</li><li>We want to spotlight US-based VCs who are skilled at dealmaking at both large and small funds.</li></ul>We are seeking nominations for Insider's yearly list of rising stars of venture capital, and we want to hear from you.Submit your suggestions below or <a target="_blank" rel=" nofollow" class="" href="https://forms.gle/NsfCPK2ruEfRs9Lg8">via this form.</a>We're looking for US-based venture capitalists who are working hard to find and fund the next big startups. These individuals may be early in their careers at big-name funds or managing young funds and wowing their peers in the industry.In the past, we've had people with various roles and experiences from VC funds like Founders Fund, Greylock Partners, Lightspeed Venture Partners, Tiger Global, and Spark Capital.Take a look at<a target="_blank" rel="" class="" href="https://www.businessinsider.com/rising-stars-venture-capital-tech-startups-2023-11"> our 2023 list here.</a>Note: Due to the large volume of applicants, we're unable to provide additional guidance on the selection process. Applications submitted after the deadline may not be considered.

Business Insider is seeking nominations for the 2024 rising stars of venture capital

<ul class="summary-list"><li>D1's Dan Sundheim and SurgoCap's Mala Gaonkar spoke about investing in AI a Chicago conference.</li><li>Sundheim said it won't be private companies leading this tech change for once.</li></ul>The best way to invest in the world's hottest trend is not through seed rounds or even fully-fledged private companies, said D1 Capital Partners founder Dan Sundheim, despite<a target="_blank" href="https://techcrunch.com/2024/10/20/investments-in-generative-ai-startups-topped-3-9b-in-q3-2024/#:~:text=In%20Q3%202024%2C%20VCs%20invested,based%20companies%20across%20127%20deals."> billions flooding into artificial intelligence start-ups</a> last quarter alone.Sundheim, whose portfolio has billions invested in both public and private companies, believes the best way to tap into the <a target="_blank" href="https://www.businessinsider.com/ai-startups-rapid-funding-rounds-2024-9">AI frenzy</a> is through public companies. Speaking at Tuesday's Invest for Kids conference in Chicago, he said that AI, unlike other big technological advances, will be felt across sectors so all companies have an interest in putting money toward it.Large public corporations have the most resources to implement AI across their businesses, according to a recap of his comments viewed by Business Insider. In other words, scale is more of an advantage in the AI field than nimbleness.He said companies putting capital and talent behind AI projects are doing so without expecting a short-term return on their investment. The infrastructure required by these projects, he said, means companies are looking at the ROI a decade from now, not a quarter.Sundheim was speaking on a panel with Mala Gaonkar, the former Lone Pine executive who launched SurgoCap Partners at the start of 2023. From her vantage point, AI will impact industries on different timelines, so over the next three to five years, it's crucial to know which areas will feel immediate benefits and which sectors will take time.Gaonkar said medtech— such as diagnostic imaging — should benefit from AI advances earlier than other sectors.Sundheim also said that because of AI infrastructure needs, there will be investment opportunities in companies that supply the equipment to upgrade the electrical grid.Both firms have had strong years investing in public markets.Gaonkar's fund is up more than 25% this year, <a target="_blank" href="https://www.businessinsider.com/lone-pine-spinouts-struggle-except-mala-gaonkar-surgocap-tiger-cubs-2024-10">BI previously reported</a>, as assets have swelled to more than $3 billion. Sundheim's D1, which according to regulatory filings manages roughly $26 billion, is up more than 34% in its public book though its venture investments have been marked down 2.6% so far in 2024, according to <a target="_blank" href="https://www.institutionalinvestor.com/article/2dw7rnwdclm7wl4q9tr7k/hedge-funds/d1-capitals-dan-sundheim-makes-changes-after-two-consecutive-knockdowns">a recent report from Institutional Investor</a>.The two funds are a part of Julian Roberston's Tiger Management's broader <a target="_blank" href="https://www.businessinsider.com/billionaire-julian-robertsons-tiger-network-spans-hundreds-of-funds-2019-11">Tiger Cub network</a>, which is known for its focus on growth stocks, particularly in the tech sector. Sundheim, who was the CIO at Viking Global before launching D1 in 2018, joined funds like Tiger Global and Coatue in 2020 and 2021 in their aggressive funding of private companies. PitchBook notes that the firm has made 228 investments in private companies since six years ago.While the private portfolio has been a drag on Sundheim's overall returns the last three years — and he's now looking to public giants for AI exposure — he still said Tuesday that the most exciting company in the world is a private one: Elon Musk's SpaceX.D1 has a stake worth roughly $2.5 billion in the company, according to the II report.The two firms declined to comment.

Tiger Grandcubs on AI: How investors Dan Sundheim and Mala Gaonkar are thinking about the space

Meet the enigmatic manager who oversees Larry Page's Google fortune 

<ul class="summary-list"><li>Scott Coulter's Cowbird Capital has closed, the second Lone Pine spinout to shutter this year.</li><li>In the past five years, four other alums have either shuttered or stopped trading hedge fund strategies.</li></ul>Lone Pine's saplings are struggling to take root.Scott Coulter's Cowbird Capital closed at the end of summer, several people told Business Insider. It's the latest spinoff from long-running Tiger Cub Lone Pine Capital to shutter. Coulter, who started Cowbird in 2017 and managed roughly $200 million as of March, according to regulatory filings, did not return several requests for comment.Lone Pine, the $16 billion firm led by co-chief investment officers Kelly Granat and David Craver, was founded in 1997 by billionaire Steve Mandel. Mandel had previously worked for Julian Robertson's Tiger Management and was hailed by his late billionaire backer as "probably the greatest analyst of all time."But while Robertson's Tiger is now known as much for its talent development prowess as its investing acumen, Lone Pine's own alumni network has struggled in recent years. The firm has spawned at least 12 hedge funds, but about half of those have shuttered or are no longer running hedge fund strategies.The Tiger Cubs, dubbed so because they're descendants of Roberston's Tiger Management, have lost luster in recent years. Big-name funds like Tiger Global and Coatue suffered serious drawdowns, casting doubt on the cohort's growth-stock focus. Lone Pine, which lost 36% in its long-short fund in 2022, <a target="_blank" href="https://www.bloomberg.com/news/articles/2023-08-28/lone-pine-clients-pulled-about-3-billion-in-span-of-a-year">has battled redemptions</a> and departures.But the struggles of Lone Pine's spinoffs are also a symptom of a larger industrywide trend that sucked money from smaller single-manager funds and redistributed it to more diversified platforms.Allocators, however, still had an appetite for backing launches from big names with significant experience, and the biggest Lone Pine spin-out has had a quietly solid start.<a target="_blank" class="" href="https://www.businessinsider.com/lone-pine-mala-gaonkar-profile-mandel-team-performance-foundation-arts-2021-5">Mala Gaonkar,</a> who previously co-led Lone Pine with Granat and Craver, began trading at her fund SurgoCap in January 2023. It launched with capital from the massive Texas Teachers Retirement System, among others.While Gaonkar has appeared more on <a target="_blank" href="https://www.imago-images.com/st/0417365427">red carpets</a> and <a target="_blank" href="https://omny.fm/shows/river-cafe-table-4/mala-gaonkar">cooking podcasts</a> than on CNBC — her partner is Talking Heads frontman David Byrne, whom she had worked with on various artistic ventures over the years — a person close to the firm told Business Insider that SurgoCap is up more than 25% this year. The firm now manages more than $3 billion, a big jump from the $1.8 billion she started with in 2023.SurgoCap — the largest-ever launch of a woman-run fund — has a few of the big-name tech stocks in its portfolio, including Nvidia, but its biggest holdings are stocks such as healthcare conglomerate McKesson and energy giant GE Vernova. The firm was also a part of the summer fundraising round by Figma after its deal with Abobe fell through at the end of 2023.<h2 id="9c9d8479-a4c4-491e-9072-0c010a34dc17">Inside the Lone Pine family tree</h2>Gaonkar's experience is far from the norm for Lone Pine alums though.Of the seven Lone Pine spinoffs <a target="_blank" href="https://www.businessinsider.com/billionaire-julian-robertsons-tiger-network-spans-hundreds-of-funds-2019-11">Business Insider identified in 2019</a>, two — David Stemerman's Conatus Capital and Scott Phillips' Latimer Light Capital — <a target="_blank" href="https://www.reuters.com/article/markets/wealth/hedge-fund-latimer-light-says-it-is-shutting-down-idUSKCN1OK2AN/">had already closed</a>. Since then, another two from that original list of seven — Matt Iorio's White Elm Capital and Coulter's aforementioned firm — have shuttered while Eashwar Krishnan's Tybourne Capital <a target="_blank" href="https://www.bloomberg.com/news/articles/2021-12-15/tybourne-to-shut-2-8-billion-hedge-fund-on-short-selling-pains">wound down its $2.8 billion hedge fund</a> at the end of 2021 to focus on long-only and private investing.Of those seven funds, only Li Ran's London-based Half Sky Capital and Brian Eizenstat's Dilation Capital are still running hedge fund strategies. Stemerman is now running a new <a target="_blank" href="https://www.businessinsider.com/centerbook-partners-hedge-fund-using-other-firms-to-invest-2024-1">multi-strategy offering called CenterBook Partners</a>, where he is not trading but mining external managers' books to create his portfolio.Other Lone Pine employees have started funds in recent years to mixed results. Paul Eisenstein's Vetamer Capital — a fintech-focused manager that invested in public and private companies — wound down at the beginning of this year after launching in 2020. Nikhil Trikha, who launched California-based Ampersand Capital Group in 2022, has less than $150 million in assets, according to regulatory filings.Meanwhile, former Lone Pine managing director Arthur Wit is launching Perryridge Capital, a new fund focused on healthcare and industrials stocks, later this year and declined to comment for this story.<h2 id="5e979d07-02cc-4225-835b-ed5c4da4f8d5">Is Viking Global now the gold standard?</h2>It's not uncommon for startup hedge funds to struggle to get off the ground and eventually stall out completely. Even though last year was the lowest level of fund liquidations in nearly two decades, according to Hedge Fund Research, there were still more than 400 closures.The pedigree of the greater Tiger Cub universe and the ambition of those who work at these firms means there'll still be a solid supply of new launches from funds like Lone Pine going forward. But the hallmark of Robertson's tenure atop Tiger Management was not just that his proteges would start new funds — it was that these new launches endured.Firms like Lone Pine, Tiger Global, Coatue, Viking Global, Maverick, Light Street, and others have lasted for decades and minted billionaires along the way.The firm that's come closest to filling Tiger Management's shoes appears to be Andreas Halvorsen's $48 billion Viking Global, which has become, to many, the <a target="_blank" href="https://www.businessinsider.com/how-viking-global-thinks-about-analyst-talent-hiring-2024-8">gold standard of talent development</a> in the Tiger Cub world. The firm <a target="_blank" href="https://www.businessinsider.com/viking-global-hedge-fund-launches-grant-wonders-voyager-d1-sundheim-2021-10">has been the launching pad for funds</a> such as Dan Sundheim's D1 Capital and Ben Jacobs' Anomaly. Ning Jin, the firm's longtime CIO, left at the end of August to start his own manager.Indeed, one of the biggest Lone Pine spinouts has a Viking connection: Marco Tablada, who was once on Lone Pine's management committee and worked for Robertson at Tiger Management before that, cofounded Alua Capital with former Viking CIO Tom Purcell in 2020.According to regulatory filings from earlier this year, the firm now manages close to $2.7 billion.

Alums of $16 billion Tiger Cub Lone Pine have struggled to hack it on their own — with one notable exception

<keyword id="526777" type="General" weightage="100" keywordseo="tiger-global" source="Orion">Tiger Global</keyword> marked down the value of its investments in private companies by about 33 per cent across its venture-capital funds in 2022, according to The <keyword id="6384660" type="General" weightage="80" keywordseo="wall-street-journal" source="Orion">Wall Street Journal</keyword>. The markdowns erased USD 23 billion in value from Tiger's giant holdings of startups around the globe, one of the people familiar with the firm said. Its private portfolio includes big bets on hundreds of companies including TikTok parent ByteDance and payments company <keyword id="944108" type="General" weightage="80" keywordseo="stripe" source="Orion">Stripe</keyword>. In the fourth quarter, Tiger's newest venture funds lost between 9 per cent and 25 per cent. While substantial, the markdowns -- including USD 9 billion in the second half of the year--highlight the lag in private markets compared with similar fast-growing public companies. Tech stocks fell sharply last year, yet large venture-capital investors have so far reported more modest declines, <keyword id="51124" type="General" weightage="80" keywordseo="wsj" source="Orion">WSJ</keyword> said. According to the Wall Street Journal, SoftBank Group reported its USD 48 billion Vision Fund 2 saw a roughly 30 per cent drop in valuations of its private investments between April and December, compared with a more than 50 per cent drop in its publicly traded holdings. The disconnect is partly explained by the tricky process of valuing private companies. WSJ said managers have wide discretion; they typically rely on recent transactions, fundamentals like revenue and the performance of comparable companies. They also often hold preferred stock, which gives investors protections if a company sells at a discount and often decreases in value at a slower rate than common stock. Managers generally say they hew to consistent valuation processes, regardless of market cycles, that involve independent assessments of companies' worth, according to WSJ. Some question if public markets are a valid benchmark, contrasting the volatility of public markets with the longer-term nature of their investments in private companies. Still, the lag in private-market valuations during a rout in technology stocks has drawn the attention of investors including Harvard University's endowment, whose chief suggested in his annual letter last fall that venture managers hadn't written down their private investments sufficiently. That could create a blind spot for investors deciding whether to invest in new funds managers are raising, WSJ said. The recent write-downs at Tiger changed some of its performance stats significantly since it began raising a new USD 5-billion venture fund last fall, according to WSJ. WSJ said when it initially sought investors for the fund, PIP 16, it reported that a USD 5 billion fund it raised in 2020, PIP 12, had generated a 22 per cent internal rate of return for investors--a well above-average figure--through June 30. That figure has fallen to 9 per cent, people familiar with the matter said. Similarly, PIP 11's internal rate of return has fallen to 13 per cent from 23 per cent over the same time frame. PIP 10's decreased to 35 per cent, from 39 per cent. Tiger subsequently shared updated performance metrics with prospective investors after taking additional losses in the third quarter, a person familiar with the matter said. Tiger regularly provides performance and portfolio data to existing and potential investors, the person said, regardless of the market backdrop, according to WSJ. All of Tiger's largest investments have taken a hit, according to people familiar with the firm. When it began fundraising last fall, the firm told investors that its stake in payment processor Stripe was worth USD 1.6 billion as of June 2022, WSJ said. On Wednesday, Stripe said it raised USD 6.5 billion in a deal that valued it at USD 50 billion, nearly half of where it was in its last funding round two years ago. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-is-an-integral-part-of-who-i-am-ill-be-a-part-of-tcs-too-as-it-soars-rajesh-gopinathan/articleshow/98722638.cms">TCS is an integral part of who I am, I’ll be a part of TCS too as it soars: Rajesh Gopinathan</a> <a href="https://www.businessinsider.in/finance/banks/news/time-to-move-on-from-ceo-extension-debate-for-indusind-bank-and-focus-on-the-fundamentals/articleshow/98693999.cms">Time to move on from CEO extension debate for IndusInd Bank and focus on the fundamentals</a> <a href="https://www.businessinsider.in/stock-market/news/analysts-remain-optimistic-about-indias-top-100-stocks-most-popular-5-stocks-deliver-double-digit-returns/articleshow/98648739.cms">Analysts remain optimistic about India’s top 100 stocks: Most popular 5 stocks deliver double digit returns</a>

Tiger Global writes down venture funds' bets by 33% in 2022, says Wall Street Journal

<ul><li style="list-style-type: none;"><ul class="summary-list"><li><keyword id="11893278" type="UNKNOWN" weightage="60" keywordseo="tiger-global" source="Orion">Tiger Global</keyword> went on a dealmaking tear with 335 investments in 2021, Crunchbase showed.</li><li>The firm's aggressive investing strategy mixed fast cash and a hands-off approach, founders said.</li></ul></li></ul>It's no exaggeration that in the world of <keyword id="11897927" type="UNKNOWN" weightage="60" keywordseo="venture-capital" source="Orion">venture capital</keyword>, 2021 was the year of Tiger Global. The global hedge fund made its mark with a feverish investing pace that won it some of the year's <a href="https://www.businessinsider.com/tiger-global-hedge-fund-startup-investments-2021-5?r=tiger-lp">biggest venture-capital deals</a>. For instance, it led rounds in <a href="https://markets.businessinsider.com/news/stocks/patreon-fuels-the-future-of-the-creator-economy-with-155-million-in-additional-funding-1030281273?r=tiger-lp">Patreon</a>, a content-creator subscription platform; <a href="https://www.businessinsider.com/hinge-health-most-valuable-healthtech-raised-300m-pitch-deck-2021-1?r=tiger-lp">Hinge Health</a>, a healthcare startup; and <a href="https://www.prnewswire.com/news-releases/side-real-estate-technology-company-raises-another-50m-more-than-doubling-valuation-to-2-5-billion-three-months-after-becoming-unicorn-301321203.html">Side</a>, a real-estate tech company. The firm's approach involved a mix of offering huge amounts of cash to startups in hot sectors, such as crypto and fintech, and a brisk pace of dealmaking that left many of Silicon Valley's biggest venture firms in the dust. Tiger made <a href="https://news.crunchbase.com/news/growth-equity-investors-startups-vc-tiger-global-insight-softbank/">335 total investments</a> in 2021, more than marquee VC firm Andreessen Horowitz, Crunchbase showed. That frenzied pace fueled a competitive market for investors, which boosted valuations of startups across the board to <a href="https://pitchbook.com/news/articles/us-venture-capital-valuation-trends-charts">levels not seen before</a>.Startups that chose to accept investments from Tiger Global <a href="https://www.businessinsider.com/startup-founders-tell-why-tiger-global-wins-so-many-deals-2021-8?r=tiger-lp">told Insider</a> they liked the firm's fast-paced dealmaking and relatively hands-off approach. Unlike other VCs, Tiger rarely takes board seats, they said. Late-stage startup founders, in particular, said they preferred the capital instead of advice.But not all VCs think the changes are for the best. Some <a href="https://www.businessinsider.com/wesley-chan-vc-market-in-danger-tiger-global-andreessen-horowitz-2021-11">top VCs think</a> the incentives get skewed when venture capitalists have billions under management, with firms — including Andreessen Horowitz, Insight Partners, and Sequoia — closing multibillion-dollar funds this year.Needless to say, Tiger's approach to venture investing <a href="https://www.businessinsider.com/how-tiger-global-eclipsed-softbank-to-become-a-global-behemoth-2021-8?r=tiger-lp">threw out</a> the traditional VC rulebook and forced the industry to rethink how it does deals going forward. Yet, there's no sign of that dealmaking stopping. Tiger Global has already closed on an enormous, new $8.8 billion fund, its biggest venture fund ever, <a href="https://www.bloomberg.com/news/articles/2021-10-25/tiger-global-raises-8-8-billion-in-first-close-of-biggest-fund?sref=ipW5reFz">Bloomberg</a> reported. That's on top of a $6.7 billion venture fund it raised in March, and a previous $3.75 billion fund from early last year. Read more on how Tiger Global shook up the venture-capital ecosystem: <ul><li><a href="https://www.businessinsider.com/how-tiger-global-eclipsed-softbank-to-become-a-global-behemoth-2021-8">Hedge fund Tiger Global is blowing up the unwritten rules of startup investing right now with its speed, tons of cash, and hands-off approach</a></li><li><a href="https://www.businessinsider.com/startup-founders-tell-why-tiger-global-wins-so-many-deals-2021-8?r=tiger-lp">How Tiger Global is beating other VCs, according to 6 startup founders who took its deals</a></li><li><a href="https://www.businessinsider.com/tiger-global-is-a-big-investor-in-softbank-insider-says-2021-10?r=tiger-lp">Tiger Global is one of the largest shareholders in SoftBank, and the two are doing more mega VC deals together, an insider says</a></li><li><a href="https://www.businessinsider.com/tiger-global-john-curtius-startup-employees-stock-pay-warning-2021-11?r=tiger-lp">Top Tiger Global dealmaker John Curtius has a stark warning for startup employees about their stock pay</a></li></ul><h3><div type="image" title="Hive cofounders, wearing grey vests, posing against boxes and wooden pallets" height="1331" width="2662" msid="88594976" hostid="261"></div></h3><h2>Founders were shocked and awed</h2>Many startup founders are often shocked and awed by the speed and ease at which the global investment firm opens its mighty war chest.That's because Tiger typically does all of its due diligence on companies beforehand, giving it the upper hand. That was the case with the logistics startup Hive in Berlin, where Tiger led a $34 million Series A, <a href="https://www.businessinsider.com/logistics-startup-hive-series-a-tiger-global-activant-2021-11?r=tiger-lp">said Franz Purucker</a>, the company's chief strategy officer. The hedge fund also did its homework on the email startup Superhuman. CEO Rahul Vohra said <a href="https://www.businessinsider.com/how-startup-superhuman-raised-75-million-from-tiger-global-ivp-2021-8?r=tiger-lp">all it took was a phone call</a> with John Curtius, the head of Tiger's software-investing practice. Two days later, Tiger had invested in Superhuman's $75 million round. Other founders recounted getting deals in a matter of hours or <a href="https://www.businessinsider.com/pitch-deck-that-convinced-tiger-global-to-invest-33-million-2021-9?r=tiger-lp">sometimes even minutes</a>.Read more on startup founders and their deals with Tiger Global:<ul><li><a href="https://www.businessinsider.com/tiger-global-john-curtius-scott-shleifer-startup-founders-miami-2021-11?r=tiger-lp">Tiger Global dealmakers Scott Shleifer and John Curtius are winning over Miami startups. The latest is QuickNode.</a></li><li><a href="https://www.businessinsider.com/how-startup-superhuman-raised-75-million-from-tiger-global-ivp-2021-8?r=tiger-lp">Superhuman CEO Rahul Vohra explains how Tiger Global's John Curtius is very different from other VCs</a></li><li><a href="https://www.businessinsider.com/crypto-startup-moonpay-buying-nfts-tiger-global-coatue-2021-11?r=tiger-lp">How the CEO of Tiger Global-backed crypto startup MoonPay is planning to make NFTs mainstream by making them easier to buy</a></li><li><a href="https://www.businessinsider.com/why-insight-partners-and-tiger-global-invested-in-versatile-2021-9?r=tiger-lp">How a female construction tech founder convinced two powerful VC firms, Insight Partners and Tiger Global, to invest $80 million</a></li></ul><div type="image" title="Revolut CEO Nikolay Storonsky speaks onstage during Day 2 of TechCrunch Disrupt SF 2018 at Moscone Center on September 6, 2018 in San Francisco, California." height="2739" width="5478" msid="88594981" hostid="261"></div><h2>Every market. Every stage.</h2>Tiger made a total of 335 investments in 2021, making deals every four out of five working days, Crunchbase showed. And that meant it doled out funds across a host of startups in every stage in sectors such as <a href="https://www.businessinsider.com/digital-health-startups-backed-by-tiger-global-management-2021-3?r=tiger-lp">digital health</a>, <a href="https://www.businessinsider.com/revolut-fintech-valuation-33-billion-tiger-global-softbank-800-million-2021-7?r=tiger-lp">fintech</a> and <a href="https://markets.businessinsider.com/news/currencies/amber-group-bitcoin-crypto-startup-investment-tiger-global-coinbase-2021-6?r=tiger-lp">crypto</a>.Read more about the funding rounds that Tiger took part in:<ul><li><a href="https://www.businessinsider.com/ultrafast-delivery-service-jokr-raises-funding-over-1-billion-valuation-2021-11?r=tiger-lp">Jokr CEO lays out his growth strategy after the ultrafast delivery startup raises $260 million from Tiger Global, GGV, and other investors</a></li><li><a href="https://www.businessinsider.com/qonto-bank-fundraise-tiger-global-4-4-billion-valuation-2021-11?r=tiger-lp">Challenger business bank Qonto is close to a $5 billion valuation with a new funding round led by Tiger Global</a></li><li><a href="https://www.businessinsider.com/easol-25-million-from-tiger-and-y-combinator-2021-12?r=tiger-lp">Tiger Global and Y Combinator have backed a $25 million round into travel and event-booking startup Easol</a></li><li><a href="https://www.businessinsider.com/fintech-publiccom-valued-at-about-12-billion-in-round-led-by-tiger-2021-2?r=tiger-lp">Tiger Global is leading a massive $200 million investment in Robinhood competitor Public.com at about a $1.2 billion valuation, quadrupling the company's value in just 2 months</a></li><li><a href="https://www.businessinsider.com/ankorstore-french-marketplace-tiger-global-funding-2021-4?r=tiger-lp">Hot marketplace startup Ankorstore is in talks to raise up to $95 million from Tiger Global</a></li><li><a href="https://www.businessinsider.com/no-code-startup-bryter-raises-66m-from-tiger-global-in-us-push-2021-4?r=tiger-lp">No-code startup Bryter just raised $66 million from Tiger Global without a pitch deck for its US expansion</a></li><li><a href="https://www.businessinsider.com/divvy-homes-raises-funding-series-c-equity-round-tiger-global-2021-2?r=tiger-lp">Rent-to-own real-estate startup Divvy Homes raises $110 million in round led by tech investor Tiger Global</a></li></ul><div type="image" title="John Curtius" height="2767" width="5535" msid="88594984" hostid="261"></div><h2>How founders wooed Tiger</h2>Check out the pitch decks that savvy founders used to convince Tiger Global to invest millions of dollars. The investments range from startups that <a href="https://www.businessinsider.com/pitch-deck-internet-of-things-hologram-65m-tiger-global-2021-8?r=tiger-lp">connect scooters and drones to the internet</a> to ones that <a href="https://www.businessinsider.com/briq-pitch-deck-startup-funding-construction-proptech-tiger-global-2021-8?r=tiger-lp">build software to analyze spending at construction sites</a>. Read more:<ul><li><a href="https://www.businessinsider.com/payments-startup-xendit-pitch-deck-used-to-raise-tiger-global-2021-10?r=tiger-lp">Check out the 15-page pitch deck that helped Indonesian payments startup Xendit become a unicorn in a $150 million round led by Tiger Global</a></li><li><a href="https://www.businessinsider.com/facebook-investor-selfbook-pitch-deck-2021-11?r=tiger-lp">Here's the 16-slide pitch deck Selfbook, a startup bringing one-click booking to the travel industry, used to raise $25 million from Tiger Global</a></li><li><a href="https://www.businessinsider.com/exclusive-look-pitch-deck-papaya-used-to-raise-tiger-global-2021?r=tiger-lp">Here's an exclusive look at the pitch deck that workforce-management startup Papaya Global used to raise $250 million from Tiger Global, Insight Partners, and others</a></li><li><a href="https://www.businessinsider.com/cloudsmith-raises-one-largest-tech-rounds-ever-in-northern-ireland-2021-9?r=tiger-lp">Cloudsmith wants to make software management safer. Check out the pitch deck it used to raise $15 million backed by mega-investor Tiger Global.</a> </li><li><a href="https://www.businessinsider.com/pitch-berlin-tech-startup-raises-85m-lakestar-and-tiger-global-2021-5?r=tiger-lp">Here's an exclusive look at the pitch deck PowerPoint rival Pitch used to raise $85 million backed by investment giant Tiger Global</a></li></ul>

How Tiger Global threw out the venture-capital rulebook and bulldozed the competition in 2021

Edtech industry leader Byju's is raising nearly $150 million from <keyword id="2538679" type="COMPANY" weightage="20" keywordseo="UBS-Group-AG">UBS Group AG</keyword>, that will take its market valuation to $16.5 billion, reliable sources said on Thursday. UBS Group AG, part of <keyword id="349466" type="COMPANY" weightage="20" keywordseo="UBS-Asset-Management">UBS Asset Management</keyword>, will invest a total of around $300 million in Byju's, people familiar with the deal told IANS. The leading ed-tech company recently raised nearly $1 billion as part of its 'Series F' funding that included Baron Funds and Facebook cofounder Eduardo Saverin's <keyword id="3472137" type="COMPANY" weightage="20" keywordseo="B-Capital-Group">B Capital Group</keyword>. The latest fund-raising came after Byju's announced to acquire Aakash Educational <keyword id="266374" type="DOMAIN" weightage="20" keywordseo="Services-Ltd">Services Ltd</keyword> (AESL) through a strategic merger. The deal size is also pegged at close to $1 billion. In September last year, Byju's raised $500 million (approximately ₹3,689 crore) in a funding round led by global technology investment firm Silver Lake. Existing investors <keyword id="526777" type="PERSON" weightage="20" keywordseo="Tiger-Global">Tiger Global</keyword>, <keyword id="6375561" type="COMPANY" weightage="20" keywordseo="General-Atlantic">General Atlantic</keyword> and <keyword id="7849665" type="COMPANY" weightage="20" keywordseo="owl-ventures">Owl Ventures</keyword> also participated in the round that put the edtech startup's valuation at $10.8 billion. The new investment came barely a month after Byju's acquired WhiteHat Jr, a Mumbai-based coding platform, for $300 million. Byju's said it has seen over 20 million new students starting learning from its platform for free since the lockdown. The <keyword id="235499" type="COMPANY" weightage="20" keywordseo="APP">app</keyword> currently has over 64 million registered students and 4.2 million annual paid subscriptions. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/covid-19-vaccine-india-needs-a-separate-queue-for-second-dose/articleshow/82304003.cms">India may end up wasting millions of COVID-19 vaccine doses if there is no separate queue for second shots</a> <a href="https://www.businessinsider.in/science/health/news/if-you-have-just-recovered-from-covid-19-experts-say-you-dont-need-to-join-in-on-the-rush-for-vaccination-immediately/articleshow/82302460.cms">If you have just recovered from COVID-19, experts say you don't need to join in on the rush for vaccination immediately</a> <a href="https://www.businessinsider.in/careers/news/atlassian-says-its-employees-only-need-to-come-into-the-office-4-times-a-year-under-its-new-team-anywhere-policy/articleshow/82304516.cms">Atlassian says its employees only need to come into the office 4 times a year under its new 'Team Anywhere' policy</a>

BYJU'S is reportedly in talks to raise $150 million to become India's most valued startup

<keyword id="2461546" type="General" weightage="20" keywordseo="fintech" source="Orion">Fintech</keyword> company <keyword id="657366" type="General" weightage="100" keywordseo="slice" source="Orion">Slice</keyword> on Monday announced it has become India's new unicorn with raising $220 million in a Series B round, that values it at over $1 billion. The round was led by <keyword id="526777" type="General" weightage="20" keywordseo="tiger-global" source="Orion">Tiger Global</keyword> and New York-based global private equity and venture capital Insight Partners. Slice (Written as slice) is a credit card challenger to pay bills, manage expenses and unlock rewards. "We've kept our heads down in the initial years and focused solely on simplifying the consumer journey and creating a cutting-edge risk underwriting system," said Rajan Bajaj, Founder and CEO. New and existing investors including <keyword id="312345" type="General" weightage="20" keywordseo="advent-international" source="Orion">Advent International</keyword>'s Sunley House Capital, Moore Strategic Ventures, Anfa, Gunosy, <keyword id="592779" type="General" weightage="20" keywordseo="blume-ventures" source="Orion">Blume Ventures</keyword>, and 8i also participated in the round. Users can sign up with Slice in seconds, quickly get a virtual card (and get a physical card delivered to their home), and enjoy up to 2 per cent cashback on each transaction. Slice, which is shipping over 200,000 cards each month, recently opened doors to the new-to-credit population. They can start their financial journey with the newly introduced card with a limit of Rs 2,000. "Slice has built a product that customers love, which we expect will result in continued growth and market share gains," said Alex Cook, Partner at Tiger Global. Slice said it now has a registered user base of over 5 million and a 40 per cent month-on-month growth rate accompanied by industry-leading risk metrics. Nearly 38 Indian startups have made it to the unicorn list this year, raising more than $32 billion (till October). SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/after-coinbase-and-crosstower-singapores-coinstore-is-now-entering-india-despite-fears-of-a-ban-on-crypto/articleshow/87976839.cms">After Coinbase and CrossTower, Singapore’s Coinstore is now entering India despite fears of a ban on crypto</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/comparison-between-airtel-vs-jio-vs-vodafone-idea-prepaid-plans-after-hikes/articleshow/87977165.cms">Airtel vs Jio vs Vodafone Idea: latest prepaid plans and what you will get</a>

Fintech firm Slice becomes India's new unicorn

<ul class="summary-list"><li>Insider is putting together a list of the best up-and-coming venture capitalists of 2023. </li><li>We want to spotlight VCs who are skilled at dealmaking at both large and small funds. </li></ul>We are seeking nominations for Insider's yearly list of rising stars of venture capital, and we want to hear from you. Submit your suggestions below or <a target="_blank" rel=" nofollow" href="https://docs.google.com/forms/d/e/1FAIpQLScEhyuQF36lmSeEy3yaCpBJjXu-_ycnlYOdaKjwsPizErSMsw/viewform?usp=sf_link">via this form.</a>We're looking for the venture capitalists working hard to find and fund the next big startups, that are early in their careers at big-name funds, or managing young funds and wowing their peers in the industry. In the past, we've had people with a variety of roles and experiences from VC funds like Founders Fund, Greylock Partners, Lightspeed Venture Partners, Tiger Global, and Spark Capital.Take a look at<a target="_blank" href="https://www.businessinsider.com/venture-capital-rising-stars-startups-tech-2022-12"> our 2022 list here.</a><h2>Criteria and methodology</h2>Our selection criteria: We ask that nominees have invested in high-interest startups in the past year, and stand out from their peers. Editors make the final decisions.Please make your submission below or through <a target="_blank" rel=" nofollow" href="https://docs.google.com/forms/d/e/1FAIpQLScEhyuQF36lmSeEy3yaCpBJjXu-_ycnlYOdaKjwsPizErSMsw/viewform?usp=sf_link">this form </a>by November 1 to have your selection considered for the list. Please be as specific as possible in your submission.Please email Madeline Renbarger at <a target="_blank" rel=" nofollow" href="mailto:mrenbarger@insider.com">mrenbarger@insider.com</a> or Samantha Stokes at <a target="_blank" rel=" nofollow" href="mailto:sstokes@insider.com">sstokes@insider.com</a> with any questions or issues submitting your nominations.

Insider is seeking nominations for the 2023 rising stars of venture capital

Short news aggregator Inshorts on Thursday said it has secured $60 million in funding from <keyword id="2603376" type="PERSON" weightage="20" keywordseo="Vy-Capital">Vy Capital</keyword> with participation from existing investors. Inshorts, which also operates location-based social media platform Public, has raised $140 million in the last one year from investors including Addition, <keyword id="526777" type="COMPANY" weightage="20" keywordseo="Tiger-Global">Tiger Global</keyword>, <keyword id="857014" type="ORGANIZATION" weightage="20" keywordseo="SIG">SIG</keyword>, A91 and <keyword id="7316344" type="UNKNOWN" weightage="20" keywordseo="Tanglin-Venture-Partners">Tanglin Venture Partners</keyword>. "The world is changing every minute, and each one of us has an inherent desire to remain updated about these changes. Both <keyword id="11645814" type="UNKNOWN" weightage="20" keywordseo="inshorts-app">Inshorts App</keyword> and Public App are aimed to help some of these people in their quest of keeping themselves informed," said Azhar Iqubal, Co-Founder and CEO. Inshorts has more than 10 million users on its platform. The app curates the most significant news items of the day, across categories like national, world, politics, business, sports, technology and entertainment, in just 60 words. Inshorts said it has more than 3 billion page views per month. "We are excited to partner with Azhar and team in their journey to build one of the largest content platforms out of India, running two market leading properties with a rapidly growing user base," said Vamsi Duvvuri, Partner, Vy Capital. The company launched Public app two years ago. The app has over 50 million active users and sees one million videos being created every month. It is available in all major languages including Hindi, Bengali, Punjabi, Telugu, Tamil, Kannada, Malayalam, <keyword id="62349" type="COMPANY" weightage="20" keywordseo="Odia">Odia</keyword>, Assamese, Gujarati and Marathi. Public has amassed a large user base in the Tier 2, Tier 3 cities. Public earlier raised Rs 260 crore in funding led by Addition, along with SIG and Tanglin Venture Partners. It is a social network for hyper-local updates and happenings to hyper-local commerce, jobs, classifieds and more. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/windows-365-operating-system-can-be-accessed-from-an-android-device-mac-ipad-or-even-linux/articleshow/84436022.cms">Windows 365 lets you use the Windows operating system from any device, anywhere</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/twitter-says-goodbye-to-fleets-within-months-of-its-rollout/articleshow/84435334.cms">Twitter says goodbye to Fleets within months of its rollout</a>

You Searched For "tiger global management and lets venture" and got 12 results

Tiger Global is backing OpenAI in new $6.6 billion investment round

Ben Bergman,Sri Muppidi

Cloud API startup Kong valued at around $2 billion in a new funding round led by Tiger Global

Ben Bergman,Sri Muppidi

Business Insider is seeking nominations for the 2024 rising stars of venture capital

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Tiger Grandcubs on AI: How investors Dan Sundheim and Mala Gaonkar are thinking about the space

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Meet the enigmatic manager who oversees Larry Page's Google fortune

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Alums of $16 billion Tiger Cub Lone Pine have struggled to hack it on their own — with one notable exception

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Tiger Global writes down venture funds' bets by 33% in 2022, says Wall Street Journal

ANI

How Tiger Global threw out the venture-capital rulebook and bulldozed the competition in 2021

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BYJU'S is reportedly in talks to raise $150 million to become India's most valued startup

IANS

Fintech firm Slice becomes India's new unicorn

IANS

Insider is seeking nominations for the 2023 rising stars of venture capital

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News aggregation app Inshorts raises $60 million from Vy Capital and existing investors

IANS

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