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Illustration: Annelise Capossela/Axios

Tiger Global is talking to investors about raising $10 billion for a new growth equity fund, just one month after raising $6.7 billion for its last one, Axios has learned from multiple sources.

Why it matters: Tiger's investment pace is unprecedented, which means we have no idea how it's going to play out.

  • You might be thinking: "Ummm ... what about SoftBank Vision Fund?"
  • Yes, it might have put more money to work in a short period of time, befitting a $100 billion fund, but it was in a much smaller number of companies. Tiger differentiated by diversification.

Details: Tiger is premarketing the new fund, its 15th, with plans to hold a first close in October and a final close next March. It may need to accelerate that timeline however, as it's already called around 60% of its Fund XIV commitments. A firm spokeswoman declined comment.

  • The firm has become a constant presence atop the "VC Deals" section of the Axios Pro Rata newsletter, leading the day's largest round. Or sometimes several of them, as it did today (Kajabi and Vast Data).
  • According to a recent story in The Information, Tiger averaged four deals per week during the first quarter.

The bottom line: Tiger was one of the first hedge fund that managed to dive deep into growth-stage tech investing, but is now taking it to heights that make many of its rivals dizzy. And, for limited partners, they'll be asked for more support before really knowing how its most recent support performed.

Go deeper

Ben Geman, author of Generate
Jul 28, 2021 - Energy & Environment

A new push to diversify the climate startup world

Illustration: Aïda Amer/Axios

A prominent energy venture capital firm and large companies including Microsoft and Duke Energy are launching a new fund to help diversify the clean technology startup sector.

Driving the news: The clean energy and climate-tech focused Energy Impact Partners (EIP) on Wednesday morning unveiled the Elevate Future Fund.

Updated 1 hour ago - Politics & Policy

Congress passes $2.1B Capitol security funding bill

U.S. Capitol police officers testify during a House select committee hearing on the Jan. 6 Capitol riot on July 27. Photo: Andrew Caballero-Reynolds/Pool via Xinhua

A $2.1 billion Capitol security funding bill is heading to President Biden for his signature after the House and Senate passed the legislation on Thursday.

Why it matters: The legislation provides funding for the Capitol Police, the National Guard and other agencies to cover the costs incurred during the Jan. 6 riot.

Biden details new vaccination initiatives as COVID cases surge

Joe Biden. Photo: Anna Moneymaker/Getty Images

President Biden detailed several new initiatives on Thursday to get more Americans vaccinated and slow the spread of the Delta variant.

Why it matters: The plan outlines aggressive next steps from the federal government as COVID-19 cases surge across the country due to the contagious Delta variant and as demand for vaccines has tapered off.

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