Tiger Global's venture capital portfolio lost $23B in value in 2022, sources informed the WSJ.
The
dip corresponds to a 33% markdown in value. Reduction in the value of
portfolio tech startups, especially ByteDance and Stripe, were the main
contributing factors.
- Tiger's venture capital funds lost between 9% and 25% of their value in the fourth quarter of 2022.
- The internal rate of return for Tiger's PIP 12 fund declined from 12% in mid-2022 to 9% by year-end.
- In the same time frame, the IRR for PIP 11 dropped from 23% to 13%, while PIP 10 fund's returns slumped from 39% to 35%.
- The
returns from the VC division fared better compared to its hedge fund
and long-only division, which lost 56% and 67% of their value,
respectively.
- SoftBank Group's Vision Fund 2 lost 30% of its value between April and December last year.
