Tiger Global Management, Chase Coleman’s investment firm that’s profited from investments in e-commerce companies before they sold shares to the public, raised about $700 million for an Internet fund.
The fund, Tiger Global Internet Opportunities, was started on Jan. 1, according to a letter sent to clients on Jan. 30. The $16 billion firm also reopened its Tiger Global Long Opportunities fund at the start of the year and has $2.3 billion.
Tiger said that it has invested in more than 100 e-commerce and online classifieds businesses over the past 13 years and that much of its current holdings in consumer Internet companies are in China. Tiger has stakes in Internet companies including Autohome Inc., an online auto portal, and Alibaba Group Holding Ltd., China’s biggest Internet company.
Tiger, based in New York, returned 17 percent in its Tiger Global fund last year and 16 percent in its Tiger Global Long Opportunities fund, according to the letter. The firm has about $7 billion in its hedge fund and the remainder in venture capital investments.
Carolyn Sargent, a spokeswoman for Tiger at Rubenstein Associates, declined to comment.