Tiger Global’s Scott Shleifer steps down
The Information. Shleifer’s decision to transition out is largely based on geography, a person familiar with the development said, asking to remain anonymous. “Tiger Global is operating in-person out of our New York offices, whereas Scott and his family have made their home in Florida and want to stay there.
We have found that having everyone together in New York is highly productive and a better operating model for our firm," Coleman said in a letter to Tiger Global investors, which Mint has seen. Coleman credited Shleifer with Tiger Global’s profitable investments in JD.com, Ctrip.com, ByteDance, Booking.com, Apollo and Google in the letter. He also told the investors that Tiger Global had hired 12 investment and research executives since 2021 and expected to add more talent ‘to this group selectively’.
Coleman did not specifically refer to where the firm would add these executives. After Lee Fixel, who invested in early Tiger Global businesses in India such as Flipkart, Shleifer was seen as the most visible face of the firm over the past four years. Fixel left in 2019 to start his own VC fund, Addition.
Tiger Global has built a reputation among startups for being founder-friendly and hands-off. The firm rarely takes on a board seat and has a more sector-approach when it comes to investments. For instance, it is likely to be invested in multiple companies in the same sector.
The firm is renowned to be decisive, and at the height of the funding boom made investment calls as quickly as over a weekend. Since January, though, Tiger Global has almost gone quiet, making fewer investments in 2023 as compared with previous years. The firm invested around $100 million in PhonePe in February alongside other investors, and $18.5
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