Tiger Global to Raise $6 Billion for New Venture Fund After Writing Down Investment in FTX

Tiger Global Management has tapped Morgan Stanley's wealth-management arm as it seeks to raise $6 billion for its next venture fund. The vehicle, Tiger Global Private Investment Partners 16, will invest in startups with a focus on enterprise themes and India.

The move comes as the firm has had to write down investments in its private portfolio, which included a wager on collapsed crypto exchange FTX.

The PIP 16 fund will make investments over a period of at least two years, and if it raises $6 billion, will be Tiger’s third-largest private vehicle.