Tiger Global ready to cut follow-on cheques to portfolio toppers
- ByStartupStory | July 11, 2022
Alex Cook, a partner at Tiger Global and a top lieutenant of the New York-based fund’s international head for private investments, Scott Shleifer, told an audience of its Indian founders earlier this month here that the fund will not hesitate to issue cheques for follow-on investment opportunities for its best-performing firms from its current portfolio, despite a slowdown in late-stage funding in India.
Tiger Global, which also invests in businesses such as Moglix and Urban Company, has made early-stage investments in companies such as Battery Smart, Jar, Toplyn, and others in 2022. According to sources aware of Cook’s India tour, he has also cautioned founders not to seek additional funding until necessary, since they will have to battle hard for ideal terms.
While other venture capital firms, such as Sequoia Capital, have released letters to founders on how to prepare for the ‘funding winter,’ Tiger Global has been secretive & media-shy about its methods and recommendations to portfolio businesses.
According to sources, Cook also informed founders how Tiger Global was coming out with a new fund, but no specifics were immediately available. According to several media sources, it acquired an $11 billion fund in February, surpassing its yearly forecasts. “It’s a work in progress, and not much was communicated during the visit,” sources added, “but a new fund is probably in the works.”
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