Alex Cook, a associate at Tiger Global who oversaw a few of its largest fintech investments, is departing the agency after a tenure of almost seven years, three folks conversant in the matter instructed TechCrunch.
Cook has briefed a number of folks round him about his departure information in latest days, though he hasn’t defined why he was leaving. The sources requested anonymity because the conversations have been personal. A Tiger Global spokesperson didn’t instantly reply to a request for remark.
His departure provides to different high-profile exits at Tiger Global. Scott Shleifer, who beforehand led the agency’s personal fairness enterprise, stepped down final 12 months. John Curtius, who led the agency’s software program investments, left in late 2022.
Cook anchored many fintech offers for Tiger Global, together with TradingView, TrueLayer, Scalapay, Xendit, Selfbook, Fazz, Jar and Refyne. The median dimension of his offers have been about $35 million whereas the median valuation stood at north of $250 million, based on PitchBook.
The departure has come as a shock to at the very least some founders. Cook spoke often — a number of instances per week — to founders, based on some accounts. He assumed accountability for managing relationships with some portfolio startups beforehand overseen by Shleifer, based on folks conversant in the matter.
Cook’s focus prolonged considerably to rising markets, significantly India, the place he often visited and met with founders in particular person. In July 2022, as an illustration, he instructed founders in Bengaluru, India, that Tiger Global was about to gradual its tempo of investments, TechCrunch reported on the time.
This improvement comes at a difficult time for Tiger Global, which just lately raised $2.2 billion for its newest VC fund, its smallest fundraising effort in a decade and a stark distinction to its earlier years of sturdy investor demand that had allowed the New York-based big to boost more and more bigger funds, together with its file $12.7 billion fund.
Amid this tough fundraising local weather, characterised by investor warning in direction of VC and personal fairness investments attributable to declining valuations and a slowdown in offers, Tiger Global introduced a major management change in November, with founder Chase Coleman assuming the function of enterprise chief from Shleifer. Coleman has taken on the accountability of managing relationships with sure key portfolio startups globally, based on folks conversant in the matter.
