Who is Tiger Global Management?
Tiger Global Management is a New York investment firm that runs hedge funds and private venture funds. Chase Coleman founded it in 2001 after working at Julian Robertson’s Tiger Management 1. Bloomberg put its assets at about $60 billion in October 2026 4. In India it was one of the most active startup investors, putting in about $6.5 billion by 2022, and an early backer of Flipkart 1113.
| Fact | Detail |
|---|---|
| Founded | 2001, by Chase Coleman 1 |
| Headquarters | New York 1 |
| Assets | About $60 billion, October 2026 4 |
| Private funds | Private Investment Partners (PIP) 2 |
| Invested in India | About $6.5 billion, as reported in 2022 11 |
| India head | Deep Verma 6 |
How Tiger Global works
Coleman was a technology analyst at Tiger Management. When Robertson closed the firm in 2000 he gave Coleman money to manage, making him one of the so-called Tiger Cubs 1. Tiger Global runs public-market funds and private investment partnerships that back startups 2. Scott Shleifer, who led private investing, stepped back at the start of 2024, and Coleman took charge of both sides of the firm 5.
Funds and performance
| Fund | Size |
|---|---|
| PIP 14 (2021) | About $6.7 billion 8 |
| PIP 15 (2022) | About $12.7 billion 28 |
| PIP 16 (2024) | About $2.2 billion, against a $6 billion target 9 |
| PIP 17 (2025-26) | About $2.2 billion target reported 10 |
Tiger Global made hundreds of startup investments in 2021 3. In 2022 its hedge fund lost 56% and its long-only fund 67%, with total losses of more than $41 billion 24. The hedge fund gained 29% in 2023 25 and 9.4% in the first nine months of 2026 4. Coleman later said he wished the firm had invested a bit less in 2020 and 2021 26. PIP 16’s size is also reported as $2.27 billion and $2.7 billion 264.
India
Tiger Global first invested in India in 2007 and became much more active from 2014, backing 124 startups by 2023 12. In 2022 Shleifer described its Indian returns as below average 12. Lee Fixel, its private equity chief and Flipkart’s biggest backer, left in 2019 7. After an 18-month pause it resumed Indian deals in 2024, preferring smaller growth rounds 6.
| Company | Outcome |
|---|---|
| Flipkart | $8.6 million in 2009; sold to Walmart in 2018 and 2023, the last part for $1.4 billion 13 |
| Zomato | Fully exited in August 2023 for ₹1,123.84 crore 18 |
| Policybazaar | Sold most of its stake in 2022, more than 10 times cost 19 |
| Delhivery | Sold its remaining shares in 2023 for about ₹388 crore 20 |
| Ather Energy | ₹75.23 crore in 2015; exited by November 2025 for about ₹1,216.8 crore 21 |
| Dream11 | Co-led a $225 million round in 2020 22 |
| ShareChat, Infra.Market, Gupshup | Led rounds in 2021 23 |
Bloomberg reported that Tiger Global made about $3.5 billion of gains on Flipkart over its life; other sources give different totals 413.
The Flipkart tax case
When Tiger Global sold Flipkart shares to Walmart in 2018, Indian tax authorities said the gain was taxable in India. Tiger argued that its Mauritius entities were protected by the India-Mauritius tax treaty, because the shares were bought before April 2017 27. The Delhi High Court ruled in its favour in August 2024 17. On 15 January 2026 the Supreme Court reversed that ruling, describing the structure as an impermissible tax avoidance arrangement 1415. The finance ministry said it would start tax recovery on a sale worth more than ₹14,500 crore ($1.6 billion) 16. Tiger Global did not respond to Reuters or TechCrunch 1415.
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