How Tiger Global is changing Silicon Valley
The impact of the hyperactive New York hedge fund will be more profound than that of deep-pocketed tourists such as SoftBank
A FEW YEARS ago SoftBank rewrote the rules of venture capital (VC). The Japanese tech conglomerate was handing out cash left and right to startup founders. Leading venture capitalists held conferences to discuss how their industry could survive the SoftBank onslaught. As some of SoftBank’s biggest investments unravelled, culminating in the collapse in September 2019 of the initial public offering (IPO) of WeWork, an office-sharing firm, Valley veterans gloated. It seemed to be just another “tourist investor”, as one VC luminary dubs those who occasionally traipse through Silicon Valley looking to pick up sexy startups.
This article appeared in the Business section of the print edition under the headline “A new Tiger in town”
Business June 26th 2021
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From the June 26th 2021 edition
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