Tiger Global raises $2.5 bln venture fund

Tiger Global Management nearly doubled the amount of venture capital raised this quarter by unveiling a $2.5 billion fund in a document filed Friday with the Securities and Exchange Commission.

The fund – Tiger Global Private Investment Partners IX – came in larger than early reports of a $1.5 billion investment vehicle and follows by only seven months the firm’s $1.5 billion eighth venture fund. Tiger Global previously collected $1.49 billion in a 2012 fund and $1.25 billion fund in 2010 fund, according to data from Thomson Reuters.

The fund is a big boost for venture capital fundraising in the fourth quarter. As of Friday, fundraising had totaled $3.26 billion, with funds from Canaan Partners and Polaris Partners leading the pack. Canaan raised a 10th fund at $675 million during the quarter and Polaris collected $450 million for its seventh fund, according to Thomson Reuters.

A Tiger spokesperson declined comment on the new fund’s focus. In the past, Tiger has been an active investor in the United States and abroad with investments in such companies as One Kings Lane, Flipkart Online Services, Eventbrite, Automattic, Pure Storage, Square, Quora and Zynga.

With Tiger’s new fund, quarterly fundraising now has topped $5.8 billion. This is well behind the more than $10 billion of the first quarter and the nearly $8 billion of the second quarter. But it is closing in on the third quarter’s almost $6.2 billion and has pushed this year’s total to more than $30 billion.

That equates to the largest year of fundraising since 2006, when $31.1 billion was raised. Last year venture firms raised $17.6 billion.

The SEC document can be found here.

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