We previously wrote about how Tiger Global, a hedge fund-PE hybrid, was disrupting VC and Growth Equity investing with its rapid deployment pace, sky-high valuations and hands-off approach. The latest data from CB Insights shows Tiger is now the leading investor in unicorns, backing 103 of them, more than venerable VC firms like Sequoia (click to enlarge).
In doing so, Tiger upended the traditionally deliberate, economical, and partnership style of venture investing with an allocator approach that implies venture firms don't add any value beyond providing capital, of which Tiger has plenty. Now, according to Crunchbase, the Firm seems to have put its strategy on steroids. So far in 2021, Tiger has led or co-led deals totaling $10.5 billion and participated in rounds which totaled a further $11.5 billion, more than twice the entire amount of 2020 and outpacing firms like Sequoia Capital, who've (only?!) done $4.1 billion worth of venture deals YTD.
What else is interesting is who are the investors following Tiger into deals...sure, firms like Coatue, DST, and T. Rowe with a similar strategy...but also Accel, Sequoia, Andreessen, etc. even as they decry Tiger's style...Well, I guess, if you can't beat em, join em?
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