Tiger Global, a barbarian who has invested 358 projects in 1 year, is accelerating the deployment of Crypto

According to Crunchbase data, in 2021, Tiger Global, a well-known hedge fund and venture capital firm, will invest in 358 projects, far exceeding well-known VCs such as a16z, Sequoia, and Lightspeed. There will be an investment transaction almost every day. Among them, there are 220 leading investment projects, and the total financing of leading investment projects has exceeded 30 billion US dollars.

And in this year, due to the active layout of startups, Tiger Global has become the largest investor in unicorn companies, and it has captured a total of 188 unicorn companies in 2021. On the other hand, in terms of fundraising, according to Preqin’s venture capital report, Tiger Global’s financing amount has also reached the highest among all VCs between 2007 and 2017.

Today, Tiger Global has also accelerated its layout in Crypto. According to the latest data, in Q1 this year, Tiger Global has participated in 19 investment transactions, an increase of 90% from the previous quarter.

Then, what kind of layout Tiger Global has made in Crypto, and how did it make it difficult for VCs to match? What are the characteristics of its investment style, and how did it come into being and develop? Rhythm BlockBeats will sort out one by one for everyone.

Tiger Global, a barbarian who has invested 358 projects in 1 year, is accelerating the deployment of Crypto

Tiger Global’s encryption layout

Tiger Global has stepped up its investment in Crypto this year. As of April 7, it has made 20 investments in 20 projects in 2022 (19 investment transactions in Q1), led 8 investments and participated in 12 investments, and the average financing amount of participating projects has reached more than 150 million US dollars.

Last year, Tiger Global only started investing in crypto projects in April, investing in crypto financial service provider Current and Indian crypto exchange CoinSwitch in the same month. This year, Tiger Global invested in 20 projects and participated in 22 rounds in total. In the three quarters of investment generation, Tiger Global made 6, 6 and 10 rounds respectively.

It can be seen that the investment speed of Tiger Global in 2022 has increased significantly, and the capture of encrypted projects in Q1 alone has increased by 90% month-on-month. In addition, in March, Tiger Global pledged to use $1 billion in cash to invest in a seed fund focused on supporting young startups, and plans to inject about $300 million into the fund each year.

But what is interesting is that Tiger Global has been involved in Crypto very early, dating back as early as 2015, when it led the B round of financing for Nubank, a large digital bank in Brazil; but after leading the E round of financing in Coinbase in 2018, it There has been little reinvestment in crypto projects, as if deliberately avoiding the field again.

And this phenomenon, until last April ushered in a change. According to Crunchbase data, so far Tiger Global has invested in about 41 projects in Crypto, with a total of 46 shots, involving 8 vertical fields, and the total project financing has reached 7.17 billion US dollars.

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Since Tiger Global’s investment transactions in Crypto mainly take place in 2021 and 2022, the following rhythm BlockBeats will help you gradually restore its investment progress and investment preferences in the past two years.

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2021

1) Tiger Global tends to invest in encrypted trading platforms and encrypted financial service providers. In that year, Tiger Global invested 12 times in this field and invested in 11 projects (among them, for the Indian encrypted exchange CoinSwitch, two B and C projects were conducted in April and October respectively. round of investment), both the number of investment projects and the number of investments accounted for 55% of the year. These projects are mainly from North America and the Asia-Pacific region, but from the perspective of its overall investment projects, Tiger has carried out a global layout.

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2) The second place is data analysis projects. Tiger Global has invested in Nansen, TRM Labs and Briq respectively, accounting for 15% of the capture rate of encryption projects that year, and investment events are basically concentrated in the second half of 2021.

3) In November, Tiger Global also stepped into the hot NFT and game tracks last year, investing in FanCraze and Forte respectively.

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2022

4) While expanding investment in encrypted trading platforms and encrypted financial service providers (such as investing in FTX, PDAX, Amber), Tiger Global has also particularly increased the construction of Web3 infrastructure, whether it is the recent NEAR, Helium, LayerZero Labs , or Polygon and Aleo in February, Tiger Global has successfully brought these star projects into the bag.

5) This year, Tiger Global has also increased its investment rate in the DeFi and NFT fields. It not only invested in The Graph and Serum, but also captured Yuga Labs, the parent company of BAYC, the leading NFT project.

6) As a project that prefers to invest in the growth stage, Tiger Global has also begun to participate in seed-stage investment, such as leading NFT projects such as FanCraze, Unblocked, and RareCircles, and investing in the African Web3 project Jambo.

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7) So far, in addition to the secondary market investment in Robinhood, Tiger Global has led 19 of the 45 investment events in crypto projects, with a leading investment rate of 42%.

Investment style: “Barbarians” invade the VC circle, only fast is not broken

For a “back wave” who is neither a native encryption fund nor a venture capital institution, Tiger Global can grab so many star projects in Crypto, and has a lead investment rate as high as 40%. Its strength is really not to be underestimated. watch for.

Coincidentally, in the traditional VC circle, Tiger Global is also regarded as a “barbarian” who invaded “Rome”, causing headaches for many traditional VCs. For now, Tiger has disrupted the venture capital market and demonstrated a new way to win.

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Crunchbase data shows that in 2021, Tiger Global will invest in 358 projects, which is more than 4 times that of the previous year. There will be an investment transaction almost every day, which has surpassed many well-known VCs such as a16z, Sequoia, and Lightspeed. , second only to two startup accelerators, Y Combinator and Techstars. Among them, there were 220 leading investment projects, and the total financing of leading investment projects reached 30.4 billion US dollars.

In addition, Tiger Global’s aggressive placement of startups has also made it the largest investor in unicorn companies, capturing 188 unicorn companies during the year. In terms of exit, Tiger has successfully exited 46 projects, including the encrypted exchange Coinbase invested in in 2018, and the IPO valuation at that time reached 86 billion US dollars.

After this year’s baptism, Tiger Global has crushed its opponents in a number of data, and it is no longer comparable to some traditional VCs. So, how exactly does Tiger Global do it, and what are the elements of its investment style?

Go faster, invest more

In the field of venture capital, Tiger Global has gradually formed a trading strategy centered on investment speed, which stems from its early role as a hedge fund, rather than a native venture capital institution, whose GP often needs to carefully select investment projects and cooperate with them. Building deep relationships often requires a lot of time and effort.

At the same time, venture capital is more like a game of speed than ever before, and it is more introverted. Taking the domestic market as an example, there is also the phenomenon of PE VC and VC seeding, such as Sequoia’s establishment of seed funds and Hillhouse’s establishment of Hillhouse Ventures. And this has also brought a survival dilemma to many small VC funds, it is becoming more and more difficult for them to invest in good projects and raise funds.

Thus, Tiger Global’s desire to move faster and invest more than any other fund is not a coincidence, but the result of a well thought out strategy, which is increasingly paying off.

Decision-making is quick and hands-on

How does Tiger Global manage to invest across geographies at a rate of about one transaction per day?

Make decisions faster! This is also the key to Tiger Global’s fast action. Some of the invested projects have said that the process of working with Tiger can be completed in a few days, while other venture capital institutions take weeks to make a decision. Although traditional VCs have speeded up several times, the investment process on a weekly or even monthly basis is still extremely lengthy in front of Tiger Global.

And this is unacceptable for some companies that focus on rapid growth. Rather than spending months raising capital, partner with Tiger Global to shorten the process and focus on the project business.

And Tiger Global is able to do this, and the reason behind it is that it’s not hands-on with everything. Take the due diligence that traditional VCs often do in-house, Tiger outsourced it to Bain Consulting, and its annual service fees at Bain often reach hundreds of millions of dollars, most of which are used for project acquisition and evaluation. , so Tiger can start investing faster and with wider reach. Moreover, Tiger Global usually has received Bain’s due diligence report before the formal contact with the project, which makes it fully know what it wants in the subsequent negotiations, which greatly improves the investment efficiency.

At the same time, Tiger Global does not need to set up special local offices or hire experts in the industry when making cross-sector investments around the world, just call someone from Bain & Company. Consulting firms with offices around the world, and with so much talent, can build a team for Tiger overnight.

In addition, in order to obtain more project sources, Tiger Global has also established contacts with various seed funds, who often seek to invest a portion of their capital in emerging early stage funds, in order to become the largest LP of these new fund managers, to Get an earlier insight into the financing needs of its future portfolio companies.

Accept low returns and lower thresholds

In the early stage, Tiger Global was relatively conservative. It was a “boutique investment bank” that only invested in the top 2% of various fields. Now it has expanded to the top 10% of the investment industry. For example, between 2000 and 2010, Tiger participated in only 30 venture financings, an average of only three per year. And even after accelerating the pace of investment in 2015, no more than 100 projects will be invested annually until 2021.

At present, Tiger Global is embarking on a path of “small profits but quick turnover”: the case is not afraid of being expensive, and the quality of investment projects is not afraid of lowering, as long as the turnover is fast enough, it can still obtain a good IRR (internal rate of return). It sounds incredible, but in Tiger Global’s view, venture capital is not just a competition for corporate cognition, but also a veritable money game.

Traditional VCs typically want a 30% IRR on their investment; Tiger Global may only want a return closer to 20%. However, according to the public materials of the 15th private equity fund “Private Investment Partners XV” launched by Tiger, the performance of the first 14 private equity funds has exceeded this threshold, and its IRR is 34%, which is still 27% after deducting fees.

Essentially, traditional VCs want to get the best possible return in a given time frame, while Tiger Global wants to allocate as much capital as possible with a reasonable IRR. Tiger’s current approach is to invest in the top 10% of projects in the tech sector, and if the tech sector continues to grow and the fund is properly selected, its returns won’t be too bad.

But why would any LP want to invest in Tiger Global if other VCs have the opportunity to get a higher IRR? It all boils down to how quickly Tiger deploys its capital. Whereas a traditional VC might take two or three years to allocate a billion dollars, Tiger invests the same amount in a year or less, by keeping returns high enough that over time, This approach will yield a larger net benefit.

Higher valuations, winning deals

For the past ten years, a16z has defined post-investment services in the venture capital market, and for a while it has almost always been a matter of talking about post-investment. Tiger Global’s business card is: the fund that is best at winning deals in the VC circle.

In addition to exploring more cooperation opportunities and reaching an agreement on terms, Tiger Global can also do whatever it takes to win the deal, especially in terms of project valuation, Tiger is willing to pay a higher price than any other fund to reach a deal. A peer once ridiculed: “Tiger, they are also called investment? They invest so fast, we haven’t even done the due diligence. The main reason why we lost to him is that they outbid us!”

Tiger Global, a barbarian who has invested 358 projects in 1 year, is accelerating the deployment of Crypto

Tiger Global’s 15th private fund raised more than $11 billion on Feb. 4 and is scheduled to close in March with a total of $12 billion, up from an initial fundraising target of $10 billion set last year, reflecting Continued demand from institutional investors for stakes in private technology companies has made the fund one of the top 10 venture capital funds ever raised.

At the same time, Tiger Global may plan to complete the investment of the 12 billion US dollars within 12 to 18 months, and this will be a very amazing turnover rate in the VC circle. With the further acceleration of Tiger in the venture capital market, it is bound to cause a new round of huge impact on the VC circle in 2022.

Adapt to the macro environment

For Tiger Global, the biggest risk to this investment approach is the macroeconomic environment. Since the new crown epidemic, the global capital market has experienced an unprecedented era of flooding, and liquidity has experienced unprecedented easing.

In the primary market, fundraising has become easier. In the past two years, VC/PE including Tiger Global, a16z, Insight Partners, Coatue, etc. have completed large-scale fundraising of tens to tens of billions of dollars. The most urgent problem in front of me has become how to find and invest in more entrepreneurial projects.

In addition, Tiger Global’s willingness to give a higher valuation of the project also stems from the current public market investors’ enthusiasm for technology. A dwindling number of tech start-ups would make it harder for funds to efficiently allocate the huge amounts of money they manage; but a sharp downturn in the industry would also see Tiger’s portfolio suffer even more. Tiger must be aware of these risks, however, and be ready to adapt to changes in the macro environment.

Then, back to Crypto VC, Tiger Global’s speed-focused investment strategy has captured numerous Crypto projects, but it remains to be verified whether it can remain invincible in this field for a long time. The iteration speed and financing speed of the Crypto project are very fast, and even the concept of “local fund” has been diluted. After the project is launched, it can directly raise financing for global investors, which improves the financing efficiency.

In addition, the Crypto project does not have the concept of a series of ABCD… Pre-IPOs that traditional venture capital projects have experienced in raising funds. After many projects have completed a round of financing, their Tokens can be listed on the exchange.

Therefore, many first-tier traditional VCs have established special crypto funds after entering the crypto field, and formulated separate investment strategies, such as a16z, Sequoia, Bain, etc. This is a field that is very different from traditional venture capital. . Among them, Sequoia has even established an encryption fund for a single industry for the first time. The fund will be mainly used to operate Token investment, pledge, provide liquidity, and participate in governance.

In addition, when traditional VCs invest in Crypto projects, they also need to understand the project’s Token economic model design, participate in community discussions, and pay attention to Meme culture, which are rare in the Web2 era.Perhaps, in order to adapt to the trend of Web3 in the future, Tiger Global, which is easy to raise funds, will also set up a separate encryption fund to continuously improve its investment strategy, we can wait and see.

Inheritance of the “Tiger” Spirit

On the premise of rapid capital distribution, fast and firm execution of investment strategies, reduced friction with invested projects, willingness to accept lower rates of return, and continuous adaptation to the macroeconomic environment, these constitute Tiger Global’s investment strategy. Characteristics of venture capital from hedge funds. To understand Tiger Global’s history of hedge funds, go back to the last century.

In the 1980s, hedge fund manager Julian Robertson founded one of the most famous hedge funds in the world, Tiger Management. In the 18 years since its establishment, its assets have grown rapidly from the initial US$8.8 million to US$21 billion, ranking second in the world with an average annual growth rate of 25%, on par with Buffett and Soros.

Tiger Global, a barbarian who has invested 358 projects in 1 year, is accelerating the deployment of Crypto

Robertson started with a simple plan to run a fundamentally-driven long-short hedge fund, a style that has since been succinctly described as: buy only the best companies and short the worst.

At the time, Tiger Management’s largest holding was American Airlines shares. However, with the rise of the “technology boom” in the US stock market in 1999, the popularity of stocks in traditional industries has been greatly reduced, and the stock price has shrunk significantly, and Tiger Management’s assets have also suffered huge losses.

Due to refusal to adapt to the high valuation of the technology industry, in just two years from 1998 to 2000, Tiger Management, which managed the entire tiger fund group, lost more than half of its assets, and faced its own funds within two years. From top to bottom, Robertson finally announced Tiger Management ceased operations.

Although, Robertson was proven correct. Soon after, the bubbles in the Internet and technology industries began to burst, but it was too late for Tiger, and a lot of money had flowed out of the fund. And this fund, known for its “ferocity”, eventually fell.

But after Tiger Management ceased operations, Robertson did not quit the investment world. He still retains a considerable portion of the former company’s assets and has backed many new hedge funds in various ways. These include Pantera and Coatue, which are still active in the encryption field, but I have to mention Tiger Global (the full name is Tiger Global Management, and it was also called Tiger Technology in the early days), founded by Chase Coleman III (Charles Coleman III) in 2001. Established in March. Coleman also spent three years as a technical analyst at Tiger Management.

Tiger Global not only inherited the name “Tiger”, but also inherited the will and spirit of “Tiger” investment, and climbed up wherever it fell, never letting go of the technology industry that made the “Tiger” fall.

It started out as a hedge fund investing in the public equity markets, and in 2003 it expanded into the private equity market, focusing on growing private companies, as well as investing in companies with a focus on the United States, China and India. Between 2007 and 2017, Tiger Global raised the highest amount of financing among all venture capital firms, according to Preqin’s venture capital report, and in 2018 also acquired a stake of about $1 billion in SoftBank Group.

As of Q1 2022, Crunchbase data shows that Tiger Global has made a total of 978 investments, with a total investment scale of nearly 100 billion US dollars. Yuga Labs and many other star companies.

Today, Tiger Global, a 20-year-old “tiger”, has firmly stood at the forefront of the technology industry, and has increased its investment in the encryption field since 2022. In the future, in the era of Web3, It will also have more possibilities and gradually open its next journey.

Attachment: specific introduction to crypto investment portfolio

Finally, BlockBeats also compiled the specific introduction of the projects in Tiger Global’s encrypted investment portfolio, as well as the time and amount of investment, etc. for readers’ convenience.

Trading platform

Tiger Global, a barbarian who has invested 358 projects in 1 year, is accelerating the deployment of Crypto

Coinbase

Coinbase is a cryptocurrency exchange that enables investors to buy, sell, manage and trade cryptocurrencies. Founded in 2012, the exchange offers wallets and cold storage options for storing digital assets.

In October 2018, Coinbase announced the completion of a $300 million Series E round led by Tiger Global, with participation from Y Combinator’s Continuity Fund, A16z, Polychain, and Wellington Management.

FTX

FTX is a cryptocurrency derivatives exchange that offers derivatives, options and volatility products in addition to spot leverage. The company was founded by Sam Bankman-Fried and Gary Wang.

On January 31, FTX announced a $400 million Series C financing at a valuation of $32 billion. Participants in the round include Tiger Global, SoftBank, Paradigm, and the Ontario Teachers’ Pension Plan Board.

FalconX

FalconX is a digital asset trading platform and prime brokerage services company founded by Raghu Yarlagadda and Prabhakar Reddy, offering trading platforms, trading API integrations and key services.

In August 2021, FalconX completed a $210 million Series C round of financing, with participation from Tiger Global, Alimeter Capital, B Capital and Sapphire Ventures, as well as the venture capital department of American Express and Mirae Asset. Unicorn ranks, with a monthly transaction volume of 10 billion US dollars.

Name

Bitso is one of the largest cryptocurrency exchanges in Mexico, targeting Latin America. The company was founded in 2014 by Daniel Vogel, Pablo Gonzalez and Ben Peters.

In May 2021, Bitso completed a $250 million Series C round led by Tiger Global and Coatue, with additional investors including Paradigm, Pantera Capital, BOND, Valor Capital Group, QED and Kaszek. In addition, Bitso also acquired the European derivatives trading platform Quedex in February of the same year.

Coinswitch Kuber

Coinswitch Kuber is an India-based cryptocurrency exchange where users can buy, sell, and trade digital assets.Headquartered in Bangalore, India, the exchange was founded in 2017 by Ashish Singhal, Govind Soni and Vimal Sagar Tiwari.

In October 2021, CoinSwitch announced the completion of a $260 million Series C financing, with a post-investment valuation of $1.9 billion. This round of financing was led by a16z and Coinbase Ventures, with participation from Tiger Global and Sequoia Capital India. In April of the same year, Tiger Global also participated as the sole investor in CoinSwitch’s $25 million Series B financing, which was also its first investment in an Indian cryptocurrency company.

PDAX

PDAX is a BSP (The Bangko Sentral ng Pilipinas: Central Bank of the Philippines) regulated exchange that allows users to trade Bitcoin, Ethereum and other digital assets on the platform. Headquartered in Manila, Philippines, the company was founded in 2017 by Krystian Kucharzyk and Nichel Gaba.

On February 10, PDAX closed a $50 million Series B round led by Tiger Global, Kingsway Capital, Jump Capital, Draper Dragon, Oak Drive Ventures, DG Daiwa Ventures, Ripple and UBX Ventures, Beenext Ventures and Cadenza Capital Management and others participated in the investment. The funds from this round of financing will be used to build high-quality infrastructure for the digital asset ecosystem.

Robinhood

Robinhood is a trading platform and brokerage app that provides investment services including cryptocurrencies. The company was founded by Baiju Bhatt and Vladimir Tenev.

In November 2021, Tiger Global head Chase Coleman revealed his investment in Robinhood in the secondary market.

Crypto Finance

Tiger Global, a barbarian who has invested 358 projects in 1 year, is accelerating the deployment of Crypto

BlockFi

BlockFi is a cryptocurrency lending institution where users can earn income by lending their digital assets or using their cryptocurrency as collateral to obtain fiat loans. The company was co-founded by Zachary Prince and Flori Marquez.

In July 2021, BlockFi announced the completion of a $500 million Series E round of financing, with an estimated post-investment valuation of $4.75 billion. This round of financing was led by London-based venture capital firm Hedosophia and Daniel Loeb’s New York hedge fund Third Point, Tiger Global, Bayer En Capital, Coinbase Ventures, etc. participated in the investment.

Amber Group

Amber Group is an Asia-based trading firm that provides institutional investors with comprehensive crypto trading services, including market making, over-the-counter (OTC), electronic sales trading, lending and treasury management. The firm was originally a project co-founded in 2015 by five Morgan Stanley investment traders and a Bloomberg engineer.

On February 22, Amber Group announced the completion of a $200 million Series B+ financing at a valuation of $3 billion, led by Temasek, with participation from existing shareholders including Tiger Global, Sequoia China, Pantera Capital, Management, Tru Arrow Partners and Coinbase Ventures. cast. Among them, Tiger Global participated in Amber’s $100 million Series B financing in June 2021, at a valuation of more than $1 billion at that time.

Babel Finance

Babel Finance is a crypto financial services company that provides lending, derivatives trading, and OTC services, co-founded by Zhou Yang and Li Wang.

In May 2021, Babel Finance completed a $40 million Series A financing led by Tiger Global, Zoo Capital, Sequoia Capital China, Dragonfly Capital, BAI Capital and Bertelsmann, with other existing investors also participating in follow-on financing.

Matrixport

Matrixport is an Asia-based cryptocurrency financial services company with about $10 billion in assets under management, founded by Bitmain co-founder Jihan Wu. The company provides its users with a suite of crypto-financial products and services that support the trading, purchase and investment of digital assets.

In August 2021, Matrixport announced that it had closed its Series C round of financing, raising $100 million at a pre-money valuation of more than $1 billion, with participation from Tiger Global, DST Global, C Ventures, CEInnovation Capital, Polychain and Dragonfly.

Moonpay

Moonpay is a payment solution that makes it easy for companies to accept cryptocurrencies as a payment method.Headquartered in London, UK, the company was founded in 2018 by Ivan Soto-Wright and Victor Faramond.

In November 2021, MoonPay completed a $555 million Series A financing at a valuation of $3.4 billion, led by Tiger Global and Coatue. Funds from this financing will be used to recruit new employees, expand the business scope and add more payment methods.

AngelList Venture

AngelList Venture is a financing platform for startups and angel investors. In 2021, 200 unicorns have received financing through GPs on AngelList Venture, while 19 companies have gone public.

On March 9, AngelList Venture announced that it has completed a $100 million Series B financing at a pre-transaction valuation of $4 billion. Tiger Global led the investment, and Accomplice participated in the investment. In addition, it will also be conducted on the platform for the past 12 months. The general partner (GP) of the investment opens the community round of financing.

Nubank

Nubank, a large digital bank in Brazil, received a $500 million investment from Warren Buffett’s Berkshire Hathaway in June 2021 and has more than 40 million customers across Latin America. In addition, Nubank has acquired brokerage firm Easyvest, and the two will jointly provide customers with bitcoin ETF investment services.

In June 2015, Tiger Global made its first Series B investment in Nubank, which raised US$30 million, led by Tiger Global, with participation from Sequoia Capital, Kaszek Ventures and QED Investors. In January 2016, Nubank completed a $52 million Series C round led by Founders Fund with participation from Tiger Global, Sequoia Capital and Kaszek Ventures. On December 7 of the same year, Nubank received $80 million in Series D financing, led by DST Global, with participation from Tiger Global, Redpoint Ventures, Ribbit Capital, Sequoia Capital, QED Investors, and Founders Fund.

Taxbit

Taxbit is a Utah-based crypto tax and accounting startup that provides crypto tax software to crypto users, exchanges, and vendors. The tax firm was founded in 2018 by Austin Woodward, Bobby Clayson, Brandon Woodward and Justin Woodward.

In August 2021, TaxBit completed a $130 million Series B financing, bringing its valuation to over $1.3 billion and becoming a new crypto unicorn. This round of financing was led by IVP and Insight Partners, with participation from Tiger Global, Paradigm, and 9Yards.

Current

Current is committed to providing financial tools and banking services for investors of modern families, headquartered in New York, USA. At present, the number of registered accounts has exceeded 3 million, and it has carried out in-depth cooperation with the payment giant Visa.

In April 2021, Current completed a $220 million Series D financing led by A16z, with participation from Tiger Global, TQ Ventures, Avenir, etc. Current will use the new funding to expand the team, and a key area of ​​expansion is cryptocurrency, which will involve partnerships and educational features to help Current users better understand the crypto market.

Infrastructure

Tiger Global, a barbarian who has invested 358 projects in 1 year, is accelerating the deployment of Crypto

NEAR

NEAR is an underlying blockchain that leverages Rainbow Bridge and Layer2 solution Aurora to achieve cross-chain interoperability. Users can transfer ERC-20 Tokens and other assets in the Ethereum blockchain into the NEAR network, enjoying the convenience of the latter’s high throughput and low transaction fees.

On April 6, NEAR completed a $350 million financing. Tiger Global led this round of financing, with participation from Republic Capital, FTX Ventures, Hashed and Dragonfly Capital. The financing will be used to accelerate the decentralization of the NEAR ecosystem.

Polygon

Polygon was founded in 2017 by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun and Mihailo Bjelic to provide scaling solutions and frameworks for Ethereum-compatible blockchain networks.

On February 7, Polygon announced the completion of an early-stage financing of $450 million. This round of financing was led by Sequoia India, Tiger Global, SoftBank, Galaxy Digital, Republic Capital, Makers Fund, Alameda Research, Alan Howard, Alexis Ohanian, Steadview Capital, Elevation Capital, Animoca Brands, Spartan Fund, Dragonfly Capital, Variant Fund, and Kevin O’leary participated to aggressively expand their portfolio of Ethereum scaling solutions and work to attract a larger developer ecosystem.

Helium

Helium is designing a peer-to-peer wireless network that aims to simplify the connection of devices to the Internet of Things, providing links for Internet of Things (IoT) devices. The project was founded in 2013 by Amir Haleem, Sean Carey and Shawn Fanning.

On March 31, Helium announced the completion of a $200 million Series D equity financing, led by Tiger Global and a16z, Seven Seven Six, Goodyear Ventures, GV (formerly Google Ventures), Liberty Global (including Virgin Media & Vodafone) , NGP Capital, Pantera Capital, Ribbit Capital and Deutsche Telekom’s Telekom Innovation Pool participated in the investment. Funds from this round of financing will be used to continue the development of Helium’s IoT and 5G networks, and to promote the further development of ecological applications.

apts

Aptos aims to build the most secure and scalable Layer 1 blockchain.

On March 15, Aptos announced the completion of a $200 million strategic financing round led by a16z, with participation from Tiger Global, Multicoin Capital, Katie Haun, Three Arrows Capital, FTX Ventures and Coinbase Ventures.

LayerZero Labs

LayerZero Labs is a Canadian developer of full-chain interoperability protocols. LayerZero can configure on-chain endpoints and rely on two parties to transmit messages between on-chain endpoints: ORACLE and RELAYER.

On March 31, LayerZero Labs announced the completion of a $135 million A+ round of financing. This round of financing was jointly led by a16z, Sequoia Capital and FTX Ventures, with participation from Tiger Global, Multicoin Capital, Coinbase Ventures, PayPal Ventures and Uniswap Labs. The post-money valuation is $1 billion.

Aleo

Aleo is a privacy-focused blockchain network that processes its transactions off-chain and is only verified by network nodes. In addition to privacy providers, Aleo also has its own programming language called Leo, which will enable developers to build decentralized and private applications.

On February 7, Aleo announced the completion of a $200 million Series B round of financing. This round of financing was led by SoftBank and Kora Management, with participation from Tiger Global, a16z, and Samsung Ventures.

block daemon

Blockdaemon is a blockchain infrastructure platform focused on node management. Over $100 billion in assets have been pledged using Blockdaemon’s infrastructure, while they manage over 500 validator nodes supporting over 40 protocols.

On January 27, Blockdaemon announced the completion of a $207 million Series C round at a post-money valuation of $3.25 billion, led by Tiger Global and Sapphire, SoftBank Vision Fund 2, Boldstart Ventures, StepStone Group, Matrix Capital Management, Lerer Hippeau, Galaxy Digital Participate in the vote.

Livepeer

Livepeer provides infrastructure support for cost-effective and scalable video streaming applications, enabled by cryptoeconomic incentives and open source software that encourages the Livepeer community to build projects.

On January 5, Livepeer announced the completion of a $20 million B+ round of equity financing. This round of financing was invested by institutions such as Tiger Global, Digital Currency Group, Northzone and Warburg Serres, as well as angel investors including British hedge fund manager Alan Howard.

QuickNode

QuickNode provides teams with blockchain infrastructure and services, including global APIs and Web3 development tools for Bitcoin and Ethereum.

In October 2021, QuickNode announced the completion of a $35 million Series A financing led by Tiger Global, with participation from Alexis Ohanian subsidiary Seven Seven Six, Soma Capital, Arrington XRP Capital, Crossbeam, and Anthony Pompliano. Funds from this round will help developers build blockchain applications, expand their product offerings and support new blockchains.

Web3

Tiger Global, a barbarian who has invested 358 projects in 1 year, is accelerating the deployment of Crypto

Hello

Jambo is an African Web3 startup that is developing a platform that combines social media and emerging Web3 services into a single application that is used by millions of people across the continent. Additionally, Jambo aims to introduce young people in Africa into the Web 3 financial ecosystem through P2E gaming and DeFi services, including currency exchange and remittances.

On February 21, Jambo announced the completion of a $7.5 million seed round, which was invested by Tiger Global, Delphi Ventures, Coinbase Ventures, and Three Arrows Capital.

Braintrust

Braintrust is a Web3 decentralized talent network that connects businesses with talented freelancers, aligning their interests. The platform is free for freelancers, and users are also rewarded with its native token for their increasing adoption of think tanks, such as inviting new clients or vetting freelancers.

In December 2021, Braintrust announced the completion of a $100 million financing round in the token sale. This round of financing was led by Coatue, with participation from Tiger Global, True Ventures, Blockchain Ventures, and HashKey. This round of funding will be used to expand its network and fund community projects through grants.

Magic Labs

Magic Labs, previously called Fortmatic, is an Ethereum-based Web3 application wallet solution provider, aiming to provide Web3 and Web2 developers and users with authentication technology services, and future-oriented passwordless login. At present, its wallet solution has been applied to multiple Ethereum applications including Uniswap, TokenSets, PoolTogether, etc.

In July 2021, Magic Labs completed a $27 million Series A financing, led by Northzone, with participation from Tiger Global, Volt Capital, CoinFund, and Digital Currency Group.

Fluence

Fluence is a Web3 native computing, P2P application platform for open and composable applications where developers can publish, host, run and monetize applications without intermediaries or central servers.

On February 17, Fluence announced the completion of a $9 million Series A financing, led by Multicoin Capital, with participation from Tiger Global, Alameda Ventures, Protocol Labs, Arweave Capital, Polymorphic Capital, OP Crypto, Signum Capital and UOB Venture Management. cast.

NFT / Gaming

Tiger Global, a barbarian who has invested 358 projects in 1 year, is accelerating the deployment of Crypto

Yuga Labs

Yuga Labs is the parent company of the NFT head project Bored Ape Yacht Club. On March 12, Yuga Labs also announced the acquisition of two other well-known NFT series developed by Larva Labs: CryptoPunks and Meebits.

On March 23, Yuga Labs completed a $450 million seed financing at a valuation of $4 billion, led by a16z, with participation from Tiger Global, Animoca Brands, LionTree, Sound Ventures, Thrive Capital, FTX, MoonPay and others.

FanCraze

FanCraze is a platform to trade, buy and sell cricket-related NFT collectibles for the fan community and has signed an agreement with the International Cricket Council (ICC) to publish an exclusive cricket-themed creation on the Flow blockchain Series NFT digital collectibles.

In November 2021, FanCraze announced the completion of a $17.4 million seed round led by Tiger Global, with participation from Coatue Management, Sequoia Capital, Dapper Labs, Samsung Next, and Courtside Ventures.

Unblocked

Unblocked is Flow’s platform for creating custom NFTs for big brands or celebrities, where brands will be able to create and distribute NFTs and build a secondary market for collectors to continue trading them.

On January 28, Unblocked received $10 million in seed financing at a valuation of $90 million, led by Tiger Global, with participation from Dapper Labs and Oaktree Capital.

RareCircles

RareCircles is an NFT membership platform that helps brands, founders and content creators create and sell NFTs for membership services.

On February 3, RareCircles raised $7.5 million in a seed round. Tiger Global led the round with participation from White Star Capital, Hashed, Alpaca, Crew Capital, Global Founders Capital, Alumni Ventures and Detroit Venture Partners.

Strong

Forte is a blockchain gaming company and platform for game developers to integrate blockchain technology into their games. The company partnered with Xpring to create a $100 million fund dedicated to investing in the blockchain gaming ecosystem.

In November 2021, Forte announced the completion of a $725 million Series B round led by Sea Capital and Kora Management, with participation from Tiger Global, a16z, Solana Ventures, Polygon Studios, Cosmos, Animoca Brands and Warner Music Group. Funds will be used to expand the service and partner with more game publishers.

DeFi

Tiger Global, a barbarian who has invested 358 projects in 1 year, is accelerating the deployment of Crypto

The Graph

The Graph is a protocol for indexing and mining data from blockchains like Ethereum, and developers can use existing APIs or create new ones to build applications. The protocol is the infrastructure backbone for many DeFi applications, including Synthetix, Uniswap, Gnosis, Balancer, Aave, Opyn, and 1inch Exchange.

On January 21, The Graph completed an early-stage financing of $50 million. This round of financing was led by Tiger Global, with participation from FinTech Collective, Fenbushi Capital, Reciprocal Ventures and Blockwall Digital Assets Fund. The new financing will be used to acquire other developers. Expansion in Asia and Europe.

Serum

Serum is a low-cost Solana-based DEX that offers fast transactions and low fees due to Solana’s low gas fees.

On January 7, Serum announced it was raising $100 million with participation from Tiger Global, Tagus and executives from Commonwealth Asset Management LP and Golden Tree Asset Management. The Serum team named its financing project “Incentive Ecosystem Foundation” and plans to recruit employees and enter new product verticals to expand its business in NFTs, Metaverse.

ApeX Protocol

ApeX Protocol is a decentralized and non-custodial derivatives protocol, and the first permissionless and censorship-resistant protocol incubated by Davion Labs that leverages Elastic Automated Market Makers (eAMMs) to facilitate the creation of permanent swaps for Toekn trading pairs futures market.

On March 3, ApeX Protocol announced the completion of a seed round led by investors including Tiger Global, Dragonfly Capital Partners, Jump Trading, Mirana Ventures, CyberX, Kronos, and M77.

Data / Analytics

Tiger Global, a barbarian who has invested 358 projects in 1 year, is accelerating the deployment of Crypto

Nansen

Nansen is a crypto analytics firm that pairs blockchain data with wallet tags, allowing its users to track high-value investors and high-level events.

In December 2021, Nansen completed a $75 million Series B financing led by venture capital firm Accel, with participation from Tiger Global, a16z, etc. The funds raised will be used to expand the functionality of its blockchain analytics platform to help users protect Crypto Assets.

TRM Labs

TRM Labs is a blockchain intelligence company that provides risk assessments and helps prevent fraud and financial crime using digital currencies.

In December 2021, TRM Labs completed a $60 million Series B financing, led by Tiger Global, Amex Ventures, Visa, Citi Ventures, DRW Venture Capital, Jump Capital, Marshall Wace, Block (formerly Square, Inc.) and PayPal Ventures, B Capital Group, Bessemer Venture Partners, Blockchain Capital, Cap Table Coalition, Castle Island Ventures, Initialized Capital, Operator Partners, etc. participated in the investment. The funding round is aimed at continuing to strengthen TRM Labs’ product line to help financial institutions and governments investigate crypto fraud.

Briq

Briq is a fintech platform built specifically for the construction sector by combining blockchain technology and machine learning tools. Briq has two main products: ProjectIQ, which monitors and manages individual projects and workflows, and provides data on the different suppliers in construction projects, and MarketIQ, which provides information on where potential projects are likely to take place and which projects will receive the most Successful market intelligence.

In June 2021, Briq closed a $30 million Series B round led by Tiger Global with participation from Cafco Construction Management, WestCor Companies, Choose Construction and Harper Construction.

Security audit

Tiger Global, a barbarian who has invested 358 projects in 1 year, is accelerating the deployment of Crypto

Certik

Certik is a blockchain and smart contract cybersecurity startup that analyzes, monitors and audits the code of blockchain projects. The company was founded in 2017 by Ronghui Gu and Zhong Shao.

In November 2021, CertiK announced the completion of a $80 million B2 round of financing, the largest single financing amount on the blockchain security track. This round of financing was led by Sequoia Capital, and old shareholders such as Tiger Global, Hillhouse Ventures, Coatue Management, and Shunwei Capital continued to follow suit. In addition, in August of the same year, Tiger Global also led Certik’s $24 million Series B expansion financing together with Hillhouse Ventures.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/tiger-global-a-barbarian-who-has-invested-358-projects-in-1-year-is-accelerating-the-deployment-of-crypto/
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