Less is more as Tiger hunts smaller deals; UPI nears 6-bn mark

Aditi Shrivastava

156 reads

Pratik Bhakta

192 reads

Aditi Shrivastava

156 reads

Pratik Bhakta

192 reads

The Crux newsletter this week. Global investment giant Tiger is avoiding cutting large cheques amid a slowdown, going after early-stage deals instead. Plus, UPI racks up milestones, but WhatsApp Payments is still stranded in the slow lane

June 03, 2022

4 MINS READ

Tiger Global Management is having a terrible 2022. Its public-market portfolio is down by 52%, according to Bloomberg. The private portfolio doesn’t look pretty either.

The investment firm, which deployed $2.25 billion out of a $6.7-billion corpus last year, is also facing a slowdown in India, a market that’s relatively insulated. It is wrestling with issues of corporate governance at star portfolio companies like BharatPe.

Given the problems, one might be tempted to say Tiger will disappear from the funding market. But that doesn’t seem to be the case, at least for now. Tiger zinda hai. (We couldn’t resist using the phrase.) It has shifted focus to early-stage cheques, perhaps following VCs’ “conserve capital” advice to startups.

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