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Tiger Global plans $2.2 Bn venture fund

EntrackrEntrackr ยท 11d ago
Tiger Global plans $2.2 Bn venture fund
Medial

Tiger Global plans $2.2 Bn venture fund Tiger Global Management is planning to raise a smaller venture capital fund as it shifts back to its earlier investing approach. According to a Bloomberg report, the New York based investment firm is looking to raise about $2.2 billion for its new fund, a sharp reduction from the much larger vehicles it raised during the market boom. The new fund, internally referred to as PIP 17, will be similar in size and structure to Tiger Globalโ€™s earlier funds. This marks a departure from the firmโ€™s previous two venture funds, which raised $6.7 billion and $12.7 billion respectively. In 2023, a Financial Times report said that Tiger Global Management had raised $2.7 billion for a new fund, citing filings with the US Securities and Exchange Commission. However, no further updates were disclosed after that. According to the Bloomberg report, Tiger Global said in a letter to investors that the upcoming fund will focus on a more selective investment strategy and a slower deployment pace. In 2025 so far, the firm has made nine new investments after reviewing hundreds of potential opportunities. Founder Chase Coleman and other Tiger Global insiders are expected to be the largest investors in the fund, which is scheduled to hold its first close on March 18, according to the report. The firm added that its strongest historical performance came from a smaller scale and more disciplined investment approach. In India, Tiger Global has backed only four companies namely Infra.Market, Captain Fresh, Infinite Uptime, and EatClub. Notably, all these were follow-on investments where the firm was already an existing backer. Even in 2024, Tiger Global made just two investments in Wiz Freight and Jupiterโ€™s NBFC arm, both of which were also as an existing investor. According to Fintrackr data, Tiger Global backed over 50% of the startups that attained unicorn status in 2021. In 2022, its portfolio companies including DealShare, Oxyzo, Games24x7, Polygon, and Open also entered the unicorn ranks.

Infra.Market raises $125 Mn led by Tiger Global

EntrackrEntrackr ยท 11m ago
Infra.Market raises $125 Mn led by Tiger Global
Medial

Infra.Market raises $125 Mn led by Tiger Global Building materials platform Infra.Market is raising Rs 1,049 crore (around $125 million) in its Series F funding round. This follows the completion of the final tranche of its Series E round in September 2024. The board at Infra.Market has passed a special resolution to issue 49,149 compulsory convertible preference shares at an issue price of Rs 2,13,439 each to raise Rs 1,049 crore or $125 million, its regulatory filing sourced from the Registrar of Companies shows. The Rs 1,049 crore Series F funding round appears to be a pre-IPO initiative, structured in two tranches: Rs 498 crore (Series F) and Rs 551 crore (Series F1), respectively. According to the filings, the first tranche of Rs 498 crore ($60 million) is led by Tiger Global, contributing Rs 211 crore, with additional participation from Evolvence Group and Fundamental Fund, which invested Rs 168 crore and Rs 119 crore, respectively. This marks a significant investment from existing investor Tiger Global, especially given its relatively low activity in recent times. For context, Tiger Global made only two investments in 2024โ€”Wiz Freight and Jupiterโ€™s NBFC armโ€”both as an existing investor. The second tranche of Rs 551 crore is yet to be completed. Capri Global, Eudora Ventures, Kangaro Industries, SVV Limited, Premratan Exports, and Verity Knowledge, along with individual investors Ashish Kacholia, Nikhil Kamath, Abhijit Pai, Sumeet Kanwar, Nuvama, Dimpy Kanwar, and Sapna Vig, are expected to participate. Tiger Global, Evolvence, and Fundamental Fund may also contribute to this tranche. According to Entrackrโ€™s estimates, the company has been valued at around Rs 24,000 crore or $2.8 billion post-allotment. Infra.Market, through its platform, offers a range of building material products, including Structural Products (Concrete, Steel, Construction Chemicals), Finishing Products (AAC blocks, MDF, Plywood, Pipes and Fittings), and Lifestyle Products (Tiles, Sanitaryware, Laminates, Paints, Fans, Lights, Appliances, Modular Kitchens, Consumer Durables). Infra.Market generates revenue from the sale of the aforementioned products. Its consolidated gross revenue rose to Rs 14,530 crore in FY24 from Rs 11,847 crore in FY23. The firm also reported a 2.4X jump in its profit to Rs 378 crore in the last fiscal year.

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