Departing Tiger Global after nearly seven years, Alex Cook, a leading figure in overseeing some of the firm’s most significant fintech ventures, has announced his exit according to three individuals with knowledge of the situation, as reported by TechCrunch.
In recent conversations, Cook has shared news of his departure with several associates, yet he has not disclosed the reasons behind his decision to leave. These disclosures were made under the condition of anonymity given the private nature of the exchanges. Attempts to reach a Tiger Global representative for comment received no immediate reply.
Cook’s exit is among several prominent departures from Tiger Global. The exit roster includes Scott Shleifer, the former head of the firm’s private equity division, who left the company last year, and John Curtius, the lead on software investments, who departed in late 2022.
At the heart of Tiger Global’s fintech transactions, Cook played a pivotal role in orchestrating deals with companies such as TradingView, TrueLayer, Scalapay, Xendit, Selfbook, Fazz, Jar, and Refyne. PitchBook data suggests the average deal Cook managed was valued at around $35 million with median company valuations surging above $250 million.
Some founders were taken aback by Cook’s departure, noting his frequent interactions — several times a week — and the significant role he played in nurturing relationships with certain startups, a mantle he took up from Shleifer for a selection of portfolio companies, those in the know have suggested.
Cook’s keen attention to emerging markets, especially India, distinguished his tenancy, marking frequent visits and personal engagements with entrepreneurs in the region. In one instance in July 2022, he briefed Bengaluru-based entrepreneurs on Tiger Global’s impending slowdown in investment pace, as TechCrunch previously disclosed.
This shift occurs as Tiger Global faces a daunting period, having secured $2.2 billion for its latest venture capital fund – its least sizable in ten years. This represents a shift from the vigorous fundraising successes of previous years, which saw the firm amassing significant funds, peaking at a $12.7 billion haul.
In a backdrop of cautious investor sentiment towards VC and private equity amid falling valuations and a dealmaking slowdown, November saw a notable leadership adjustment within Tiger Global. Chase Coleman, the founder, has taken on venture leadership responsibilities previously held by Shleifer, orchestrating certain crucial global startup engagements, as per insiders.
Compiled by Techarena.au.
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