Tiger Global increased its Series A bets in India by three times as early-stage capital increased
- ByStartupStory | June 29, 2022
One of the most prominent tech investors in the world, Tiger Global Management, increased its Series A bets in India this year as early-stage funding to the nation’s start-up ecosystem seemed to be picking up steam even as late-stage funding was stalling.
According to data from Tracxn Technologies, the New York-based hedge fund company participated in 10 Series A rounds totalling $377.4 million in the first half of 2022, compared to three companies in rounds totalling $75.7 million for the entire year of 2021. In 2020, Tiger Global took part in just one $20 million round. Tiger Global participated in Series A rounds with an average size that increased from $25 million in 2021 to $40.2 million in 2022.
By increasing its early-stage bets, Tiger Global joins Sequoia Capital India, another aggressive tech investor in India, suggesting that the country’s demand for early-stage investments is improving after it hit a 12-month low in May. The seed-level funding range for Sequoia Capital India’s investments through Surge, its start-up accelerator programme, will now go up to $3 million, the company said last week.
Tiger Global, on the other hand, had informed its investors in May that the company had increased early-stage investments globally through its newest and largest venture capital fund, with an investment amount of close to $13 billion. This represented a change in strategy for Tiger Global, as the hedge fund company typically makes investments at later stages. The change occurs a month after Tiger Global reported a dramatic decline in the overall value of its public stock positions, which dropped from over $46 billion in the previous quarter to $26 billion at the end of the March quarter.
Additionally, Tiger Global had disclosed to its shareholders that more than half of the fund’s investments were made in Series A or Series B rounds, which are often the first or second significant financings for private tech companies. When it led a Rs 20 crore round in software-as-a-service (SaaS) platform Shoplo, the company made its first seed-level investment in India.
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