ChainCatcher news, according to Bloomberg, UK digital bank Revolut Ltd. is in talks with Tiger Global Management for a $500 million stock sale.This will be a secondary market sale, meaning no new shares will be issued, but rather it involves employees selling existing shares. Revolut has already hired Morgan Stanley to assist with the sale, which could push Revolut's valuation above $40 billion.

ChainCatcher news, according to Bloomberg, citing informed sources, Tiger Global Management has raised about $2.2 billion for its latest venture capital fund, significantly below the $6 billion target, marking the smallest fundraising amount in nearly a decade. Last week, the final close of the Private Investment Partners 16 fund (PIP 16) marked the first time that Tiger Global's venture capital fund raised less money than in previous years. Tiger Global's previous fund of $12.7 billion was its largest ever. Reports indicate that Tiger Global is currently facing the toughest fundraising environment in years, with investors becoming more cautious about venture capital and private equity investments due to declining valuations and a lack of deals.It is reported that PIP 16 will primarily support startups in the enterprise technology sector, focusing on the United States and India, and will involve multi-year investments. PIP 16 has been in the market for about 18 months, longer than the time the company typically requires to lock in cash. An informed source stated that the company delayed the final closing time partly to give investors more time to adjust to the transition of former venture capital head Shleifer. Some clients also requested more time to sort out their internal budgets.Additionally, last November, the company announced that founder Chase Coleman would succeed venture capital head Scott Shleifer, who stepped down to become a senior advisor.

According to ChainCatcher news, a 13F filing submitted by Tiger Global to the U.S. Securities and Exchange Commission shows that as of December 31, the company did not hold any shares of Coinbase (COIN). However, previous filings indicated that three months ago, the company still held 38,850 shares, valued at $2.9 million.Tiger Global was a major investor before Coinbase went public and led a $300 million Series E funding round for Coinbase in October 2018.

ChainCatcher news, according to Bloomberg citing informed sources, Tiger Global Management's largest hedge fund has written down the value of its OpenSea shares by 94%, and the investment value in BAYC has been written down by 69%.Previous report, on November 8, New York-based hedge and venture fund Coatue Management reduced the value of its OpenSea shares, which were once worth $120 million, by 90% to $13 million in the second quarter of 2023. This means the company believes OpenSea's current paper valuation is $1.4 billion or less.

ChainCatcher news, according to sources from The Information, internal team members including MoonPay co-founder and CEO Ivan Soto-Wright cashed out $150 million during the Series A funding round in November 2021.During the Series A funding round in 2021, MoonPay raised $555 million at a valuation of $3.4 billion, with investors including Tiger Global and Coatue participating. The significance of this deal goes far beyond what is visible on the surface. Part of the funds was used to purchase shares from existing shareholders, such as Ivan Soto-Wright.The source stated that MoonPay raised $405 million by selling shares to investors, with the remaining $150 million representing shares cashed out by internal personnel in secondary transactions. A few weeks after the Series A funding, Ivan Soto-Wright purchased a $38 million mansion in Miami. (source link)

According to ChainCatcher news, DL News reported that Tiger Global has reduced its equity value in OpenSea from $126.8 million to $30.2 million, a decrease of 76%. Based on this, DL News estimates that Tiger Global has lowered OpenSea's valuation to $3 billion.According to the crypto data platform RootData, OpenSea announced the completion of a $300 million Series C funding round in January 2022 with a post-money valuation of $13.3 billion, led by Paradigm and Coatue, with participation from Tiger Global. (Source link)

ChainCatcher news, The Information reported that Tiger Global Management ([Tiger Global](https://www.rootdata.com/zh/Investors/detail/Tiger Global?k=MTE4) recently informed LPs that as of the end of last year, its $12.7 billion venture capital fund recorded a 20% loss.Tiger Global stated, "We underestimated the impact of rising inflation and overestimated the sustainability of the business growth brought by the pandemic to our portfolio." Additionally, Tiger Global is working with banks to liquidate its shares in other venture capital funds.According to the crypto data platform RootData, in 2022, Tiger Global made about 40 investments in Web3, among which there were projects with single financing amounts exceeding $100 million, including FTX, Gnosis Safe, FalconX, StarkWare, NEAR Protocol, Helium, LayerZero, FanCraze, [Yuga Labs](https://www.rootdata.com/zh/Projects/detail/Yuga Labs?k=MzM4Ng==), Aptos, [Amber Group](https://www.rootdata.com/zh/Projects/detail/Amber Group?k=NDA4Nw==), Polygon, Aleo, and Blockdaemon. (Source link)

ChainCatcher news, according to a report by The Information citing sources, the leadership of hedge fund Tiger Global Management had committed to personally invest $1 billion in dozens of venture capital funds at the beginning of last year. However, as the startup market deteriorated, investors expressed their intention to reduce their previous commitments.Insiders stated that as Tiger Global's venture capital returns turned negative, the company's partners provided various reasons to these venture capital funds for retracting their investment commitments, including worsening economic conditions and unmet due diligence requirements. A venture capital fund manager reported receiving a verbal commitment from Tiger Global, but was unable to contact its partners for the following four months, and ultimately, Tiger Global did not invest.Forbes had previously reported that Tiger Global reneged on its verbal commitment to invest in the early-stage venture fund Banana Capital. (The Information)

ChainCatcher news, according to a report by Bloomberg citing informed sources, consulting firm Bain & Company was one of the consulting firms that helped Tiger Global conduct due diligence on its investment in FTX. Tiger Global pays Bain over $100 million annually for research on private companies. Tiger Global has now written down its $38 million stake in FTX to zero.ChainCatcher previously reported that after writing down its FTX investment, Tiger Global established a new fund and plans to raise $6 billion. (Bloomberg)

According to ChainCatcher news, citing sources familiar with the matter from Bloomberg, Tiger Global Management has established a new fund called "Tiger Global Private Investment Partners 16" and is in talks with Morgan Stanley's wealth management division to raise $6 billion for the fund.The report states that Tiger Global is launching this fund because it has had to write down previous private investment portfolio assets, including those written down due to losses from its investment in FTX. PIP 16 will begin investing within two years, and if it successfully raises $6 billion, it will become the third-largest investment fund under Tiger Global Management. (Bloomberg)

ChainCatcher news, the token management platform Magna has completed a $15 million seed round financing at a valuation of $70 million, led by Tiger Global and Tusk Venture Partners, with participation from institutional investors such as Shima Capital, Circle Ventures, Solana Ventures, Polygon Ventures, Avalanche Labs, and Galaxy Labs, as well as individual investors including Coinbase executive Balaji Srinivasan, Messari's Ryan Selkis, and DJ Steve Aoki.It is reported that Magna is building token distribution software to make it easier for protocols, DAOs, and crypto funds to send and receive tokens, as the current process lacks automation and is prone to errors. (Coindesk)