FinTech news in hopin category

While much was made on Monday of the departure of John Curtius, a software investor who joined Tiger Global in 2017, Tiger Global has a slightly larger team than it did at the beginning of this year, says a source familiar with the firm. Indeed, in an investor letter that also came out Monday, Tiger Global stated it has recently hired five new investors, including two individuals from Blackstone, two recent Harvard graduates and a fifth investor, Evan Stanleigh, who joined the firm after a seven-year stint as a partner with the New York hedge fund Cadian Capital. Of course, like a lot of investors having a lousy time of it, Tiger Global is pointing to its historic returns and stating in its new investor memorandum that since inception in 2003, its funds have called down $36 billion and distributed $30 billion (roughly $8 billion of which has flowed back to its investors over the past two years alone, says a source close to the firm). Called Cedar Investment Management, it is expected to compete on earlier-stage deals with Tiger, whose average investment size, once jaw-dropping, has decreased to $30 million over the last year, the firm says in its investor letter.