Exclusive: How Slack’s Marriage to Salesforce CrumbledRead Now

Tiger Global founder Chase Coleman III. Photo: Bloomberg. Illustration: Mike Sullivan

Tiger Global Partners Commit $1 Billion for Early-Stage Tech Funds

By  |  March 7, 2022 3:26 PM PST
Photo: Tiger Global founder Chase Coleman III. Photo: Bloomberg. Illustration: Mike Sullivan

Tiger Global Management, the world’s most active startup investor last year, is trying a new way to get the inside track.

Partners at the firm, known for its big bets in companies including Coinbase and Roblox, have committed $1 billion of their own cash to invest in seed funds that focus on backing the youngest startups, said a person with direct knowledge of the matter. Under the initiative, the partners would invest a little over $300 million in the funds every year, the person added.

The commitment, unprecedented for its size, would allow Tiger Global to become the largest investor in dozens of new seed funds that would want its cash. The firm would then get exposure to more early-stage startups it could invest in later. So far this year, Tiger Global has already backed or agreed to back funds for more-established firms including Better Tomorrow Ventures, Moxxie Ventures and Chapter One Ventures, a separate person with direct knowledge added, as well as less well-known funds such as Maple VC.

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
The Briefing microsoft facebook
The FTC is Fighting All the Wrong Fights
Photo by Bloomberg
The Federal Trade Commission made headlines today, suing to block Microsoft’s $69 billion dollar deal for Activision, which makes some of the most popular videogames in the world. I’m a big fan of federal regulators paying closer attention to tech companies’ hidden power, especially how they use customer data. But the FTC should just let this one go. Technology is upending the gaming world in...
Latest Briefs
 
Letter From Foxconn Helped Spur China’s Reopening
Instant Delivery Startup Gorillas in Talks to be Acquired by Rival Getir at $1.7 Billion Valuation
Airtable Lays Off 20%, Replaces Product and Sales Chiefs
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Microsoft CEO Satya Nadella. Photo by Bloomberg
Exclusive microsoft
Microsoft Eyes ‘Super App’ to Break Apple and Google’s Hold on Mobile Search
Microsoft recently considered building a “super app” that could combine shopping, messaging, web search, news feeds and other services in a one-stop smartphone app, in what would be an ambitious move by the software giant to expand further into consumer services, according to people with direct knowledge of the discussions.
From left: Stewart Butterfield, Marc Benioff and Bret Taylor. Photos by Getty; Bloomberg.
Exclusive microsoft enterprise
How Slack’s Marriage to Salesforce Crumbled
Two years ago, Salesforce co-founder and CEO Marc Benioff gushed about his software company’s $28 billion purchase of messaging app Slack, describing it as a “match made in heaven.” It was also the most expensive subscription software acquisition of all time, with Salesforce paying around 26 times Slack’s forward revenue—a price tag that carried high expectations.
Illustration by Josh Brill.
Opinion economy
A Raise May Be Out of the Question, but You Do Have Other Options
Layoffs have swept through the tech industry (and more may be on the horizon ), flooding the job market with qualified candidates—just like you—as even the large companies are fighting to stay afloat.
Animation by Clark Miller
The Big Read
The Passion of Cathie Wood: Why the ‘Wackiest Portfolio Manager on Earth’ Isn’t Losing Faith
Cathie Wood was sitting in a phone booth in the New York office of Ark Invest when she heard Tasha Keeney, one of the firm’s analysts, let out a scream—“a happy scream,” Wood recalled.
The 1:1 policy
A Billionaire Couple Goes for Broke: How John and Laura Arnold Plan to Give It All Away
On Election Day, John and Laura Arnold found themselves deep in the lion’s den: a few blocks from the White House, working from the new Washington D.C.
Exclusive startups crypto
Crypto and AI-Focused Sequoia Partner Is Leaving the Firm
Sequoia Capital partner Divya Gupta is leaving the firm just weeks after the storied venture capital firm apologized to limited partners about its $214 million investment in the now-bankrupt crypto exchange FTX.