Chase Coleman III was a protégé of
Julian Robertson and from 1997 to 2000 worked as a technology analyst for the firm,
Tiger Management. In 2000, Robertson closed Tiger Management, and entrusted Coleman with over $25 million to manage, making him one of the 30 or more so-called "
Tiger Cubs", fund managers who started their fund management careers with Tiger Management. In 2001, Coleman established Tiger Technology (which would be later renamed to Tiger Global Management, LLC), as a
hedge fund to invest in the
public equity market. In 2003,
Scott Shleifer helped Tiger Global expand into investing in the
private equity market. From the period of 2007 to 2017, according to the
Preqin Venture Report, Tiger Global raised the highest amount of capital among
venture capital firms. In 2020, Tiger Global earned its investors $10.4 billion, more than any other hedge fund on the annual list of the top 20 managers compiled by London fund-of-funds firm LCH Investments. In 2022, the firm experienced significant losses. By June 2022, the firm's hedge fund and its long-only fund had respectively declined 52% and 62% in value since the beginning of the year. The
Wall Street Journal and
Financial Times reported that these losses eliminated some two-thirds of the value accrued by the hedge fund and the long-only fund over the duration of their existences, while
New York cited research indicating the losses could account for three-fourths of lifetime gains. The
Wall Street Journal has referred to the hedge fund's loss as "one of the largest-ever", == Business overview ==