tiger global: How a secret $10 million deal could affect Tiger Global's latest fundraiser

tiger global: How a secret $10 million deal could affect Tiger Global’s latest fundraiser

A secret deal by US investment firm Tiger Global with a former employee is likely to affect its latest fundraising efforts.

The investment firm, which has pumped billions of dollars into hundreds of startups in recent years, is struggling to raise its latest venture fund since investors learned of a secret deal with a senior employee, according to a report. from Semafor news.

The firm paid $10 million to the employee, who left two years ago, to settle allegations of bullying, harassment and insensitivity, according to the report.

Some of Tiger’s prospective investors only recently learned of the incident and are reconsidering commitments they had already made.

The company was seeking to raise a new fund with a target of $6 billion to invest in early-stage startups in India and other markets, according to a Bloomberg report from October last year.

“We have worked hard to create a culture that embodies integrity, respect, humility, a drive for excellence and continuous improvement,” the firm’s spokesperson was quoted as saying in the report.

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“Prioritizing these values ​​in our daily interactions inside and outside of Tiger Global has been the glue that has underpinned our success for the past 21 years. We remain committed to driving continuous improvement at Tiger Global as we look to the future.” Investors are worried about the company’s performance, as its two funds that invest in public companies fell 67% and 56% last year. The company’s private holdings fell 24% internally last year, according to the Semafor report.

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