Last year, Tiger Global Management led a rush to back startups nearing initial public offerings, piling into late-stage funding rounds for banking app Chime, data firm Databricks and videoconferencing startup Hopin. New data shows just how much Tiger and other deep-pocketed investors have pulled back so far this year.
Tiger’s participation in late-stage deals, or Series C and above, through May 31 has fallen 17% to 50 deals this year from the same period last year, according to PitchBook data prepared for The Information. While that retreat is significant given Tiger’s venture capital blitz last year, when it made more late-stage deals than any other U.S. VC investor, the company was far from alone.
