Tiger Global, a famous investment fund in the crypto market and a launching pad for many billion-dollar technology startups, has significantly reduced the value of its shares in crypto projects.
Tiger Global reduced its investment in BAYC by 69% and in OpenSea by 94%.
According to sources from Bloomberg , Private Investment Partners 15 - an early-stage private investment fund worth nearly $13 billion of Tiger Global - is said to be suffering an 18% loss , according to paper reports as of the end of the month. 9, after this fund reduced its market share to many companies in its portfolio.
Investors in Tiger Global Management's biggest venture fund were sitting on an 18% paper loss at the end of September after the firm slashed valuations for multiple portfolio companies https://t.co/RAXde5VW5Y
— Bloomberg Crypto (@crypto) November 30, 2023
Specifically, Tiger Global reduced its investment in the Bored Ape Yacht Club (BAYC) Non-Fungible Token collection by 69%, and in Non-Fungible Token exchange OpenSea by 69%. Tiger Global has invested 126.8 million USD in OpenSea. Previously, this investment fund completely cut 38 million USD in FTX to zero after the exchange collapsed.
Additionally, PIP 15 also saw a 45% drop in AI company Superhuman and a 72% drop in privacy solutions tool DuckDuckGo.
After emerging as one of the technology sector's largest investment funds, Tiger Global went through a long period of losses. In November 2022, the leading hedge fund reported a loss of 54.7% for the year. Then, in March, WSJ e.g Popular news is that Tiger Global has lowered the value of its private funds by an Medium of 33% in 2022.
Tiger Global was founded in 2001 by Chase Coleman III with the mission of generating long-term sustainable investment returns. As of April 2023, Tiger Global has invested in more than 1,149 companies in 30 countries around the world.
Although Tiger Global's investment portfolio in crypto projects is quite modest, they still have quality investments such as Polygon ( 450 million USD) , Aptos (200 million USD), LayerZero (135 million USD). USD) or StarkNet (100 million USD).
Outstanding projects in Tiger Global's investment portfolio
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