Tiger opens portfolio to secondary investors

 

Tiger Global has opened its entire portfolio to a select number of secondary investors, sources informed Pitchbook.  The secondary investors will be able to bid on any portfolio company. The news comes after Tiger could not find a lead buyer for a strip sale of its portfolio assets.  In May, Tiger hired leading secondaries advisor Evercore to advise the firm on its secondary sale.  The New York-based VC firm initially sought to dilute its holdings in 30 portfolio companies in the strip sale.  Tiger's move suggests that the firm wants to sell some of its assets to generate liquidity as exit prospects through IPOs and M&As remain shut.  Tiger invested in 315 companies in 2021.  Notable portfolio startups include Chime, Databricks, Cohere, Revolut, and Nero.