Tech

Hedge fund Tiger Global is beating out Silicon Valley VCs and averaging more than 1 startup investment per business day so far this year. Here’s 110 of them.

  • $65 billion hedge fund Tiger Global is squeezing out venture capital firms to invest in startups.
  • The company has taken part in 110 startup financings so far in 2021, according to Pitchbook.
  • Venture capitalists credit its speed and sky-high valuations for its success in landing deals.
  • See more stories on Insider’s business page.

A hedge fund is eating venture capital’s lunch.

Tiger Global, a type of fund that raises outside capital to invest in a smorgasbord of asset types, has participated in 110 startup financings so far this year, including breakouts like Clubhouse, Stripe, and Hopin, according to Pitchbook data.

The company, which has $65 billion in assets under management, is competing for deals against some of the most well-endowed venture outlets in Silicon Valley, and it’s winning. By comparison, Andreessen Horowitz has taken part in 101 startup financings in the first five months of 2021, followed by Accel with 87 and Sequoia with 70, according to Pitchbook. These figures are estimates, and the totals could be larger with some deals still unannounced.

Venture capitalists say Tiger Global’s breakneck pace of investing has helped it secure the lead spot in many startup financings, according to recent reports in The Information and The Financial Times. It has a reputation for getting ahead of rival firms by approaching startups before they start fundraising and offering fast money at high valuations.

In April, no-code software startup Bryter told Insider it moved up plans to fundraise at the end of the year after Tiger Global came forward with an offer to lead a $66 million investment. The CEO had a term sheet in hand a week later.

“We have been in touch with Tiger Global for a year, they have done their homework, know the market and our customers, and the funding will help us grow a global software company,” Michael Grupp, CEO of Bryter, said.

Traditional hedge funds tend to gravitate toward assets like stocks, bonds, currencies, and real estate and to allow investors to cash out periodically. But in recent years, hedge funds like Tiger Global and Coatue grew hot on startup investing because of their potential for large returns, even if those profits take longer to realize than other assets.

The ripple effects of the coronavirus pandemic have accelerated that strategy, Business Insider’s Callum Burroughs writes. The market swings and near-zero interest rates have made traditional investment strategies less appealing.

Tiger Global has taken a more aggressive approach than any other hedge fund, and it could produce quite a haul for the firm when the startups it’s backed are no longer startups, through a sale or an exit to the public markets.

Tiger Global has made more startups investments than weekdays so far in 2021, according to Pitchbook bata. Here are 110 of them, listed in order of financing date.

Startups with valuations greater than $1 billion are bolded.

  • DataRobot
  • Flexe
  • Lacework
  • Carrum Health
  • Baibu
  • Cockroach Labs
  • Checkout.com
  • Rapyd
  • Blend
  • Aledade
  • Lalamove
  • Mambu
  • Wolt
  • Sidecar Health
  • Rhino
  • Nubank
  • Databricks
  • CoinSwitch Kuber
  • Drizly
  • Divvy
  • Deepgram
  • Flipdish
  • TigerGraph
  • Public.com
  • Locus
  • Automattic
  • Ally Technologies
  • Shiprocket
  • Innovacer
  • Highspot
  • Infra.Market
  • Flutterwave
  • Vestiaire Collective
  • TaxBit
  • Instacart
  • Dispatch Health
  • Clobotics
  • TytoCare
  • Hopin
  • Vendr
  • SeekOut
  • Crosschq
  • Cedar
  • Snyk
  • Daily
  • FalconX
  • Fadada
  • BlockFi
  • Stripe
  • Weee!
  • Dutchie
  • PolicyBazaar
  • Yotpo
  • Komodo Health
  • Cleartax
  • Loft
  • Lattice
  • Wellxe Technology
  • InShorts
  • Attentive
  • ServiceTitan
  • CityBlock Health
  • Rightway
  • HighRadius
  • 6Sense
  • Harry’s
  • Hinge Health
  • Qualia
  • SendBird
  • Dingdong Medical
  • CRED
  • Redis Labs
  • Patreon
  • Groww
  • Chili Piper
  • Bryter
  • SaltPay
  • Tend
  • DealShare
  • Scale AI
  • Papa
  • Outschool
  • Groq
  • JOKR
  • Virta Health
  • Ruangguru
  • Razorpay
  • Clubhouse (audio chat app)
  • Aihuishou
  • Pristyn Care
  • Dataiku
  • ChargeBee
  • Cape Privacy
  • Productboard
  • AfterShip
  • Urban Company
  • Make Essence
  • Brex
  • Current
  • MessageBird
  • BYJU’s
  • SafetyCulture
  • Vast Data
  • HoneyBook
  • Bitso
  • Blair
  • Ada Support
  • Babel Finance
  • Contractbook
  • 77hub

Are you a startups or venture capital insider with insight to share? Contact Melia Russell via email at [email protected] or on Signal at (603) 913-3085. Open DMs on Twitter @meliarobin.



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