Tiger Global Management’s $12.7 billion venture fund, launched near the peak of the tech stock boom in October 2021, gave the New York hedge fund firepower to back hundreds of startups in under two years. Now the mammoth fund is bearing testimony to the bruising correction in private tech valuations that followed.
Tiger has told investors the fund had a paper loss of 20%, net of management fees, as of December, according to documents viewed by The Information. That’s worsened from an 8% loss it recorded as of June 2022 and an 11% loss as of September that year.
