Tiger Global Management's biggest venture fund saw an 18% paper loss after the firm slashed valuations for multiple portfolio companies. The firm wrote down the value of its Bored Ape Yacht Club (BAYC) investment by 69% and its stake in NFT market OpenSea by 94%. Additionally, Tiger Global cut valuations of its portfolio companies, including Superhuman by 45%, DuckDuckGo by 72%, and OpenSea by 94%. Inclusive Capital is winding down its funds due to an investment approach that hasn't been rewarded in the public markets.
Inclusive Capital is now winding down its funds because the investment approach “unfortunately hasn’t been rewarded in the public markets,” according to the memo https://t.co/6DHLtDWXrB
Investment firm Tiger Global is said to have marked down the value of its stakes in Bored Ape Yacht Club and OpenSea. https://t.co/ewynWtxGwv
Tiger Global’s biggest #venturefund has 18% loss after markdowns The ~$13 billion Private Investment Partners 15 fund marked down AI-powered email company @Superhuman by 45% and cut its valuation for privacy search engine platform @DuckDuckGo by 72%. https://t.co/ZJepZkbotw
Sources: Tiger Global cut valuations of its portfolio companies in September 2023 including Superhuman by 45%, DuckDuckGo 72%, Yuga Labs 69%, and OpenSea 94% (Bloomberg) https://t.co/oNeR4laS4M 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/NciGvWSlyi
Tiger Global wrote down the value of its Bored Ape Yacht Club (BAYC) investment by 69% and the value of its stake in NFT market OpenSea by 94%. Tiger Global also previously wrote down its $38 million investment in FTX to zero. https://t.co/qsOVcopEKD
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
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/6JbSHSqLHj
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/E4YS0hJ5u7
Activist investor Ubben shutting down Inclusive Capital -WSJ https://t.co/WVP5zl1KBH https://t.co/yDsXBOfYro
Activist investor Ubben shutting down Inclusive Capital -WSJ https://t.co/FJA9aXrgpf https://t.co/k89lsN09R7
Activist investor Ubben shutting down Inclusive Capital -WSJ https://t.co/on0zBavpPw https://t.co/grGBgQTRW7
What comes next for Tiger Global after a recent shakeup: https://t.co/5COBalU3tJ