As Crypto Global was about to go to press, my colleagues Kate Clark and Berber Jin published a scoop about Tiger Global Management’s fundraising. The New York-based hedge fund has so far raised more than $11 billion for its latest venture capital fund, which is expected to close in March with a total of $12 billion.
Tiger’s ability to push past the original target for its new venture fund—last year the plan was to raise $10 billion—means it will have a lot more dry powder to invest in crypto. Already this year, the firm has been involved in deals with crypto and blockchain companies that totaled $695 million, according to data provider PitchBook. These include crypto custodian Copper, as well as cryptocurrency exchanges FalconX, FTX and CoinSwitch. And on Thursday, the company led a seed round for NFT membership platform RareCircles.