Scoop: Tiger Global raising $6 billion for next private tech fund

• At the same time, $6 billion is nothing to sneeze at, suggesting that Tiger isn't terribly bearish.
• Existing portfolio companies include TikTok parent ByteDance, Databricks, Stripe, ByteDance and Shein.

By the numbers: Tiger's letter reports that its Private Investment Partners funds have called over $36 billion since inception in 2003, distributed $30 billion and generated a net IRR of 24%.

• Per Tiger: "The funds have generated positive IRRs in every vintage year of investment and consistently robust distributions, with each of our first 10 funds having returned between 130% and 1,058% of called capital."

Timing: Earlier this week, Tiger informed investors that partner John Curtius is leaving to launch his own VC firm focused on B2B software startups.

Strategy: Tiger says that it has invested most of its existing fund in early-stage enterprise software and fintech companies in the U.S. and India, with average investment sizes falling to $30 million, and that it expects that strategy to persist.