Alex Cook, a partner at Tiger Global, is leaving the firm after almost seven years, according to sources familiar with the situation. Cook, known for overseeing major fintech investments, has not provided a reason for his departure, but has informed several individuals close to him about his decision in recent days. The sources have chosen to remain anonymous as these conversations were private. Despite attempts to reach out to a Tiger Global spokesperson for comment, there has been no immediate response.
Cook’s exit adds to a list of high-profile departures from Tiger Global, including Scott Shleifer, who led the firm’s private equity business and left last year, and John Curtius, who was in charge of the software investments and departed in late 2022. Cook played a key role in numerous fintech deals for Tiger Global, such as TradingView, TrueLayer, Scalapay, Xendit, Selfbook, Fazz, Jar, and Refyne. PitchBook data reveals that the average size of his deals was approximately $35 million, with a valuation averaging over $250 million.
The news of Cook’s departure has surprised some founders who were in regular contact with him. Sources indicate that Cook was actively involved in managing relationships with certain portfolio startups that were previously overseen by Shleifer. His focus also extended to emerging markets, with a particular emphasis on India, where he frequently engaged with founders in person. In a meeting with founders in Bengaluru in July 2022, Cook reportedly mentioned that Tiger Global was planning to reduce its investment pace.
This development comes at a challenging time for Tiger Global, as the firm recently closed a $2.2 billion VC fund, marking its smallest fundraising effort in ten years. This stands in stark contrast to previous years when the firm experienced strong investor demand, allowing it to raise increasingly larger funds, including its record $12.7 billion fund. In response to the current fundraising climate, characterized by investor caution towards VC and private equity investments due to declining valuations and reduced deal activity, Tiger Global made significant leadership changes in November.
Founder Chase Coleman has taken over as the venture chief, assuming the responsibility of managing relationships with key portfolio startups globally. These changes reflect Tiger Global’s efforts to navigate the evolving investment landscape and maintain its position in the competitive VC market. While Cook’s departure may raise questions about the firm’s future strategy, Tiger Global remains committed to identifying new opportunities and driving growth in the ever-changing fintech sector.
