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.