Tiger Global Management's once booming investments in tech and crypto businesses took a severe hit late last year with its $12.7 billion venture fund producing a paper loss of 20%, according to The Information. Half a dozen of the major crypto investments were identified as causing the loss with investments in FTX, OpenSea, Yuga Labs, MoonPay, Helium, and Worldcoin being marked down or entirely wiped out.

The losses in the crypto space reflect a wider trend of share prices in crypto value companies being sold at steep discounts on secondary marketplaces. Birel.io, for example, showcased shares for OpenSea going for a 51% discount on March 8th. Mostly attributing to the overall losses, Tiger's flagship hedge fund reported 54.7% losses for the year 2022 and The Wall Street Journal documented a 33% loss in private funds over the same year.

Since creating the venture fund, Tiger has invested more than $11 billion primarily in enterprise software and almost a quarter of that figure being spent in the fintech and crypto categories. Although Tiger has backed over 250 startups, 170 of them were worth less at the end of last year than the original investment amount, which again speaks to the lower values of the crypto market in particular.

Overall, it seemed that Tiger Global Management's investments in crypto and tech businesses took a severe hit late last year, with the venture fund seeing a total paper loss of 20%. The impact was also reflected in the wider market with sales of crypto businesses going at discounted prices and losses in the hedge fund and private funds being reported in the previous year. As of now, Tiger's Global Management has not commented on the issue.



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