Fixel led the $13 billion PE unit through deals that made billions of dollars in profit for the New York-based firm. He may start his own investment firm.
PE firms are finding opportunities to invest in Japan boosted by negative interest rates and an effort by PM Shinzo Abe to improve corporate governance.
For Tiger Global, the return on investment, in dollar terms, is one of the largest for the firm’s $11 billion venture capital unit. After the transaction is completed, it will hold a 5% stake in Flipkart and Lee Fixel will keep his seat on the company’s board.
Tiger Global had about $700 million invested in Spotify before it went public through a direct listing.
To see the future of artificial intelligence, look East, said venture capitalist Jim Breyer.
The hedge fund axed its exposure to Amazon by about two-thirds to 1.04 million shares worth $619 million as of March 31. The firm cut its bet on JD.com, by about a quarter to 44 million shares, and reduced its Apple holding by almost half to 5.7 million shares, valued at $617 million.