Tiger Global Set to Raise $6Billion For a New Startups Fund
![Closeup shot of a person holding a smartphone that has a logo of Tigerglobal in front of laptop that displays the core concept of TigerGlobal](https://worldfintechnews.com/wp-content/uploads/2022/10/tiger-global-raise-fund-to-invest-in-startups.jpg)
With most investors steering clear of venture backing, Tiger Global is on the lookout for 6 billion USD for their new startup fund. The hedge fund giant calls the new fund Private Investment Partners Fund 16 or PIP 16.
The overall scheme of things does not seem to be enjoying a promising start. The last time Tiger Global looked for investors for a new fund, they were trying to raise more than double the current amount. Also, Tiger Global initially revealed their plans to raise close to 8 billion USD. So, a target reduction before starting the fund-raising journey doesn’t signal good things. What makes the situation a bit more appalling is the fact that close to half a billion out of the six will come from investments by employees.
Tiger Global has also stated that PIP 16 will be investing primarily in companies making enterprise software, consumer corporations as well as Fintechs. Calling these relatively unexplored market segments, Tiger Global is quite bullish on them in the mid to long term. Geographically, PIP 16 will target India.
As far as the current fiscal year is concerned, things have been out of control for Tiger Global. They lost approx. 65-70 percent of their total profit earned from the beginning of 2001 within a span of 4 months!
Visit World Fintech News for the latest information and analysis on the financial sector and the fintech industry.