Tiger Global raises $8.8 billion in first close of biggest fund

Mumbai: New York-based investment firm Tiger Global has mopped up $8.8 billion towards the first close of its new fund, its biggest corpus so far.

This comes barely six months after it raised its 13th global fund of $6.65 billion and amid bigger bets in the country across various sectors.

News wire Bloomberg News said the “employees kicked in about $1.5 billion, roughly $500 million more than they initially intended to invest in the new $10 billion fund that the firm intends to raise.”

The fund will have its second close in March, it said. This is its third fund in 18 months. Tiger Global raised its 12th fund of $3.75 billion in January last year.