Facebook investor raises largest private equity fund to date.
Tiger Global has raised nearly $1.5 billion for its seventh private equity fund, according to a filing with the SEC.
This is the private equity affiliate of Tiger Global, the tech-heavy hedge fund run by Chase Coleman. It’s extremely secretive — no website, no interviews — but is regularly called on to provide later-stage capital to some of the world’s hottest private companies.
For example, it held a 1.4% stake in Zynga (ZNGA) before the FarmVille maker went public, and is believed to hold more than a 1% position in Facebook. Other notable portfolio companies include EventBrite, One King’s Lane, Warby Parker and Peixe Urbano (Brazil).
Most of those investments are for tens of millions of dollars — if not more, in the case of Facebook — which explains why Tiger Global seems to raise so much money so often. The New York-based firm closed on $1.25 billion for its sixth fund just one year ago, after having targeted $1 billion.
No word yet on if this new filing for Fund VII — which officially comes in at $1.485 billion — represents a final close. We’ve put in a call to Tiger Global to find out, and will update this post if a response is provided.
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