Tiger Global Partner John Curtius is leaving the company

John Curtius, a partner at Tiger Global who has overseen a spate of venture capital investments in software and business services companies over the past five years, is preparing to leave the company, a high-profile departure that will deepen the turmoil of the once-high-flying hedge- fund.

Curtius has overseen some of Tiger Global’s leading software investments such as Databricks, Toast and Snowflake. He will leave the firm in 2023, said two people familiar with the matter.

According to two people familiar with the matter, Curtius, Tiger Global founder Chase Coleman and his partner Scott Shleifer had begun discussing Curtius’ exit over the summer. Curtius plans to launch a new fund focused on early-stage software companies in 2023, a source familiar with the matter said.

Curtius joined Tiger in 2017 from hedge fund Elliott Management, reporting to Shleifer, who leads the firm’s venture business.

According to PitchBook data, Curtius led more than 100 venture investments Tiger Global made in early-stage and growth-stage venture capital firms, becoming one of the most prolific investors in Silicon Valley.

Within Tiger, Curtius became one of the company’s most active investors and played a key role in investing its private funds, which are separate from Tiger’s hedge funds. Among the founders, Tiger was known for its speed of doing business, often beating out competitors by quickly agreeing to fund deals without the need for board seats.

According to PitchBook data, Curtius is listed as a board member on only two of his investments.

Tiger Global’s flagship fund has fallen 50 percent in value this year, weighed down by a deep correction in public market valuations. In letters to investors, the group has noted that it has been hit hardest by public software inventories and the inability of its hedges to dampen market volatility.

“We are grateful for all of his contributions to Tiger Global and have appreciated his work ethic and intellect,” Tiger Global management said Monday in a letter to investors informing them of his departure, published by the Financial Times Was seen.

In the letter, Tiger confirmed to investors that its public funds lost money in the third quarter and that it has reduced its sizeable portfolio of private venture capital investments every month this year.

“We enter the final quarter of 2022 having accepted that this will not be a year for which the Scoreboard will make us proud and our minds firmly set on the future,” Tiger said in the letter.

Tiger Global and Curtius both declined to comment.

https://www.ft.com/content/55ba96f9-9afc-45a8-b82a-700de8166d7b Tiger Global Partner John Curtius is leaving the company

Adam Bradshaw

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