Alex Cook, a partner at Tiger Global who oversaw some of its largest fintech investments, is departing the firm after a tenure of nearly seven years, three people familiar with the matter told TechCrunch.
Announcement and Reason for Departure Tiger
Cook has briefed multiple people around him about his departure news in recent days, although he hasn’t explained why he was leaving. The sources requested anonymity as the conversations were private. A Tiger Global spokesperson didn’t immediately respond to a request for comment.
Previous High-Profile Exits
His departure adds to other high-profile exits at Tiger Global. Scott Shleifer, who previously led the firm’s private equity business, stepped down last year. John Curtius, who led the firm’s software investments, left in late 2022.
Major Investments and Deals
Cook anchored many fintech deals for Tiger Global, including TradingView, TrueLayer, Scalapay, Xendit, Selfbook, Fazz, Jar, and Refyne. The median size of his deals was about $35 million, whereas the median valuation stood at north of $250 million, according to PitchBook.
Impact on Founders and Emerging Markets Tiger
The departure has come as a surprise to at least some founders. Cook spoke frequently — multiple times a week — to founders, according to some accounts. He assumed responsibility for managing relationships with some portfolio startups previously overseen by Shleifer, according to people familiar with the matter.
Tiger Focus on Emerging MarketsÂ
Cook’s focus extended significantly to emerging markets, particularly India, where he frequently visited and met with founders in person. In July 2022, for instance, he told founders in Bengaluru, India, that Tiger Global was about to slow its pace of investments, TechCrunch reported at the time.
Challenges for Tiger Global
This development comes at a challenging time for Tiger Global, which recently raised $2.2 billion for its latest VC fund, its smallest fundraising effort in a decade and a stark contrast to its previous years of robust investor demand that had allowed the New York-based giant to raise increasingly larger funds, including its record $12.7 billion fund.
Leadership Changes Amid Difficult Fundraising Climate
Amid this difficult fundraising climate, characterized by investor caution towards VC and private equity investments due to declining valuations and a slowdown in deals, Tiger Global announced a significant leadership change in November, with founder Chase Coleman assuming the role of venture chief from Shleifer. Coleman has taken on the responsibility of managing relationships with certain key portfolio startups globally, according to people familiar with the matter.
