Tiger Global's largest risk fund reduced its holdings of BAYC shares and OpenSea shares
According to insiders, investors in the largest venture capital fund under Tiger Global Management suffered an 18% paper loss at the end of September after the company reduced the valuations of several portfolio companies. Insiders say the $13 billion Private Investment Partners 15 fund lowered the valuation of AI-driven email company Superhuman by 45% and lowered the valuation of privacy search engine platform DuckDuckGo by 72%. Insiders also say Tiger Global reduced its stake in Bored Ape Yacht Club by 69% and reduced its stake in NFT marketplace OpenSea by 94%. Last year, Tiger Global reduced the valuation of its risk fund by about 33%, resulting in a $23 billion decrease in value. The PIP 15 fund completed its final close last year.
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