Tiger Global Looks to Sell Portion of $40B Private Company Portfolio

Tiger Global Management, a technology-focused investment manager, is considering ways to sell off a portion of its $40 billion portfolio of privately held companies through the secondary market, according to a report by Bloomberg.

The New York-based investment firm run by Chase Coleman has recruited an advisor to help with the divestment, according to the story, which cites unnamed persons familiar with the situation.

The majority of Tiger Global’s assets are in start-up enterprises, but as fewer companies have gone public in the last one and a half years, secondary markets are increasingly acting as an exit strategy for investors.

Talks are reportedly in their early stages, and prospective bidders have stated that any purchase would likely be delayed by challenges in appraising the holdings, which include interests in businesses including payments company Stripe, US software company Databricks and China’s ByteDance.

According to a report published by Raymond James, secondary deals have surged in recent years with $105 billion worth struck last year, an almost 5x increase in transaction values seen in the space a decade earlier.