Fubon Life Insurance, a subsidiary of financial holding group Fubon, has provided $50m of capital for the latest fund to be raised by US-based investment firm Tiger Global Management, DealStreetAsia reported yesterday.
Founded in 2001, Tiger Global makes both public equity and venture and growth capital investments, and has been a notable investor in Asia where it made sizeable commitments to the likes of Xiaomi, Flipkart, Ola, Grab and Meitu.
The firm raised $3.8bn for its 11th fund in October 2018 and its 10th fund, Tiger Global Private Investment Partners X, closed at $2.5bn in 2015. The Fubon commitment is going to an entity called Tiger Global Private Investment Partners XII, indicating Tiger Global is working on a new fund.
Tiger Global’s recent exits include fitness technology provider Peloton, which has a current market cap of more than $8.6bn having floated in September 2019, and Harry’s, the razor retailer acquired by Edgewell for $1.37bn four months earlier.
Fubon Life made a series of fund investments in 2019 according to DealStreetAsia, supplying $20m and $10m for funds raised by VC firms New Enterprise Associates and Jafco respectively, in addition to backing funds by private equity firms and hedge funds.
