Investment firm Tiger Global Management LLC, renowned for its early investments in tech giants like Meta and Spotify, recently informed its limited partners about being targeted in a series of misinformation attacks by a former employee. This revelation came to light through a letter obtained by Reuters. The firm was responding to a draft article, supposedly from The New Yorker magazine, that has been circulating for the past few months. This draft contained unfounded allegations against Tiger Global, and The New Yorker has denied any involvement in its creation.
On Friday, Tiger Global reached out to its investment partners to address the document, which has been circulating within the venture capital, hedge fund, and media communities. The nine-page document discusses the firm’s investment strategy along with allegations of personal improprieties. Tiger Global stated in its letter to investors that the content of these attacks, filled with falsehoods, was most likely authored and promoted by a disgruntled former employee who recently left the firm. The letter expressed the firm’s regret that its clients had also been subjected to this misinformation.
Tiger Global’s letter specifically referenced a document claiming it was written for The New Yorker magazine, however, a spokesperson for the publication denied any involvement. The extent of the document’s dissemination remains unclear, although the Tiger Global letter stated that the firm had been aware of its existence for several months. Reuters reporters received a version of the document earlier this month. Once again, The New Yorker distanced itself from the claims made in the document.
Tiger Global assured its investors that it had enlisted the help of “experts” to address the allegations mentioned in the document, but did not provide further details about these experts. In the letter, the firm emphasized that unlike the anonymous individual spreading this false narrative online, Tiger Global is a known entity.
Tiger Global, which manages assets worth approximately $50 billion, experienced a significant reduction in its portfolio last year due to the decline of tech stocks.
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