Tiger Global marks down last year's venture bets by 33%: Report
The markdown erased $23 billion from Tiger Global's investment portfolio across the world in 2022.
Tiger Global wrote down one-third of its value of venture capital investments made in private companies in 2022. This markdown is across the investment firm's VC funds.
Around $23 billion were erased from Tiger Global's investment portfolio across the world last year, according to a report by WSJ. It added that the firm's newest venture funds lost between 9% and 25% in the latest quarter.
This development comes at a time when tech stocks across the world have been taking a nosedive, while venture capital investors reported a moderate decline.
In February, SoftBank Group Corp reported an investment loss of $5.52 billion on the Vision Fund—between October 2022 and December 2022.
Tiger Global has invested across at least 139 companies in India, according to , along with payment firm Stripe and TikTok-parent Bytedance. The firm found a successful exit from the online marketplace after its acquisition by Walmart in 2018.
Since then, the firm has been actively investing in Indian startups including , a payment platform earlier a subsidy of Flipkart, , a roll-up business startup, and , among many other players.
Edited by Kanishk Singh