Tiger Global raises $1.5bn Fund VIII

The venture firm’s latest vehicle is roughly the same size as its 2012-vintage predecessor fund.  

New York-based venture capital firm Tiger Global has raised $1.5 billion for its eighth fund, according to SEC filings.  The final close amount is roughly the same as Tiger’s previous fund, a 2012 vintage that closed on $1.49 billion.

Tiger Global focuses on venture investments worldwide and most recently led an $80 million funding round for internet encyclopedia company Quora. Other investments have included well known internet properties like One Kings Lane and Eventbrite.  The company has approximately $5.7 billion in assets under management, according to Private Equity International’s research and analytics division.

Tiger Global is one of many firms to spin out of Julian Robertson’s Tiger Management, forming a class of investment firms known as the ‘Tiger Cubs’. Those firms have had a tough time holding on recently. Coatue Management, the $7 billion technology-focused hedge fund founded by Philippe Laffont and another Cub recently turned back $2 billion to investors after losses on technology bets on both the long and short side.  Andreas Halvorsen’s Viking Global Investors also saw a performance dip in March as many firms unwound big name tech investments.

Private Equity International previously reported on Chinese online gaming firm Giant Interactive which sold its partnership interests in two of Yunfeng Capital’s E-Commerce Funds, which held all of Giant Interactive’s shares in Alibaba Group. Yunfeng was the private equity firm set up by the chairman of Alibaba, Jack Ma. Those stakes were sold to Tiger Global in February for $199 million, giving the firm a large interest in the well-known e-commerce platform.