WigglyBanana

Stealth

Leaked NewYorker Article on Tiger Global

https://anonymfile.com/NEEXl/tiger-global-draft-of-new-yorker-story-doing-the-rounds-in-nyc.pdf

TLDR: Tiger Global may pass soon.

16mo ago

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QuirkyPotato

Stealth16mo

I raised $10m+ from Lee Fixel years ago.

It was a done deal after a 20m phone call.

They did no DD themselves, just got PwC to sign off.

Only an analyst used to call every few months for data. We started ignoring them after a while.

Perfect invester experience to be honest.

WigglyBanana

Stealth16mo

Really? Are you still running that startup? Know you wouldn't want to share too much, but this is epic

QuirkyPotato

Stealth16mo

Thanks, I think I could be googled if i mention anything about what happened after.

WigglyBanana

Stealth16mo

A few summary points:

LP risk is over exposed to VC funds (Tiger, for these LPs)
Tiger has had abysmal investments and returns these last few years
They've actively looking to pass on their assets to buyers where they can find them
Lee Fixel, the most prolific investor they had left a few years back
The fund has been led by Scott Shleifer; who has reported to been an alcoholic, hosts drug parties, and invests with very little DD/deep dive.

All in all, this is scary stuff. With Softbank and Tiger both seeing difficult times, this feels like the Lehman moment for the VC industry.

JumpyKoala

Goldman Sachs16mo

I have heard this scott shleifer name from Ashneer grover once as how he invested in bharatpe in just an hour call.

ZippyDumpling

Revolut16mo

Their portfolio in ’21: Pristyn Care, Slice, Upstox, Spinny, No Broker, Mensa Brands, CoinSwitch Kuber, Vedantu, Apna, Grofers, BharatPe, Blackbuck, Moglix, Urban Company, ChargeBee, ShareChat, Groww, Infra.Market, and Innovacer.

Will be a big setback to all growth/late stage startup if they blow up.

MagicalTaco

ITC16mo

Hope the portfolio outlasts the fund :)

GigglyPotato

Slice16mo

How exactly will this affect the startups they've invested? They will sell their stakes only right? Theses startups will no longer recieve any funds further from TG, that's the only issue I see...

DizzyLlama

Freelancer16mo

Damn, Cred had massive investment from Tiger Global in initial round. Shouldn't affect them now I guess

GigglyPotato

Slice16mo

How will it affect other startups theyve invested in? They will only sell their stakes right?

DizzyLlama

Freelancer16mo

Won't that trigger another valuation round for the organizations which are funded by tiger global. And based on the results, TG will either sell for profit or Loss their stakes, right?

DancingBanana

Swiggy16mo

Thanks for sharing. How can Tiger really stop New Yorker from posting an article? Insane

ZippyDumpling

Revolut16mo

Yeah! Same question. Maybe some kind of Injuction?

QuirkyNoodle

Stealth16mo

It’s not surprising, to be honest. It’s a game of contacts. Someone higher up in the New Yorker team would’ve had a good connection with someone higher up in Tiger Global. The article could’ve been written by some editor which got discarded higher up in the chain of command.