While the firm has long been active in venture-backed companies, particularly internationally, it has recently stepped up the pace in Silicon Valley. The firm made about $1 billion on its Facebook stock, according to a person familiar with the matter. ROBERTSON PROTEGEįounded in 2000 with $25 million by Chase Coleman, a protégé of Robertson’s, Tiger has earned the respect of Silicon Valley denizens, in part through its highly profitable investment in Facebook.Īt the time of that company’s 2012 IPO, Tiger Global owned some 54 million shares. Rowe Price, Tiger Global, and Valiant Capital, invested $2.5 billion in 39 deals last year, up 26 percent from 2012, according to consultants CB Insights. Nontraditional late-stage investors, including Altimeter Capital, Coatue Management, Fidelity Investments, Maverick Capital, T. “They’re filling an important need in the ecostystem to provide capital for companies that are not going public right now,” said Peter Levine, a partner at Andreessen Horowitz, a venture-capital firm that co-invests with Tiger.
Tiger Global, a so-called “Tiger Cub” because of its ties to investor Julian Robertson and his once-highflying hedge fund Tiger Management, has quietly taken one of the largest positions of the newcomers, technology investors say. And the bankrolling these days is coming as much from hedge funds and other Wall Street asset managers as from Silicon Valley money. Their traditional focus on larger companies in late stages of financing has partially given way to a search for young companies that have proven their chops and attracted investments from leading venture firms, but have not yet held richly priced initial public offerings.ĭespite strong public markets that have brought outsized valuations for recent IPOs such as message service Twitter, and security company FireEye, many companies are delaying going public and seeking private funding instead. They include hedge funds such as Coatue Management and Valiant Capital Management private equity groups such as Rizvi Traverse Management and TPG and mutual fund giants BlackRock, Fidelity and T. Tiger Global Management, part private equity manager and part hedge fund manager, has emerged as among the most prominent of a growing club of Wall Street financiers now eyeing technology start-ups.
SAN FRANCISCO/BOSTON (Reuters) - As increasing numbers of technology companies defer initial public offerings, one influential Wall Street investor has stepped up to the plate in Silicon Valley.
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