Tiger Global to invest about $5m in The Viral Fever’s Series D round

Photo: Mint

New York-based investment firm Tiger Global Management has been on an investment spree in India in recent months, and there seems to be no stopping it.

The firm has already announced at least three investments this month itself, and is now injecting about $5 million (Rs 34.67 crore) as part of a Series D funding round for online video platform The Viral Fever (TVF).

According to the company’s filings with the Registrar of Companies (RoC) sourced by paper.vc, TVF is allotting 2,833 Series D compulsorily convertible preference share to Singapore-based Internet Fund III, which is owned by Tiger Global, at a price of Rs 1,22,412 per share.

TVF had raised $5.8 million in its Series C funding round from Tiger Global in July last year.

“TVF’s valuation is $82 million post this round, not accounting for new Series D participants. At the minimum this is a 13.8 per cent jump from last year’s Series C,” paper.vc founder Vivek Durai said.

TVF was founded in 2010 by IIT graduate Arunabh Kumar, and is operated by Contagious Online Media Network Pvt Ltd. Individual investors in the startup include Flipkart co-founder Binny Bansal, Ola co-founders Bhavish Aggarwal and Ankit Bhati, Freecharge founder Kunal Shah and Toppr founder Zishaan Hayath, among others.

TVF started out as a YouTube channel and now runs a video streaming platform under TVF Play.

Meanwhile, Tiger Global is aggressively chasing deals in the country’s technology space.

In April, Mint reported that Tiger is looking to make as many as five software investments in the coming weeks from its $3.75 billion fund— Tiger Global Private Investment Partners XI— that focuses on consumer internet, cloud computing, industry software and direct-to-consumer companies in India, China and the US.

Last week, it led a $22-million Series B funding round fir logistics management software startup Locus. Earlier this month, Tiger Global also invested in Bengaluru-based home rental startup NestAway Technologies.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.