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Tiger Global's Venture Fund Faces Setback: Notable Losses of 18% Amidst Portfolio Adjustments
Tiger Global Management's primary venture fund, Private Investment Partners 15 (PIP 15), has encountered an 18% decline in paper value by the close of September.
This downturn follows the firm's decision to adjust the valuations of several companies within its portfolio, as per Bloomberg's sources.
PIP 15, initially valued at nearly $13 billion, experienced substantial markdowns. Notably, the valuation of artificial intelligence (AI) firm Superhuman was reduced by 45%, and a significant 72% cut was applied to DuckDuckGo, a privacy-focused search engine platform.
In addition to these adjustments, Tiger Global marked down its investments in the Bored Ape Yacht Club, a collection of non-fungible tokens (NFTs), by 69%, and the NFT marketplace OpenSea faced a substantial 94% markdown.
For further details, see: 'Dream' Job At JPMorgan Chase Was Just The Opposite: Why One Employee Quit Shortly After Landing It
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