Key Takeaways
- • Tiger Global and Sequoia Capital led India's venture capital activity through Q3 2021, with Crunchbase data showing these firms and Accel spearheading the most funding rounds totaling over $3.5 billion across the country.
- • Tiger Global averaged 1.3 deals per day in Q2 2021, increasing investments eightfold year-over-year to 81 deals, positioning it as the most active venture investor during a record $156 billion global financing quarter (up 157% annually).
- • Tiger Global currently maintains approximately 17 unicorns in its India portfolio, one more than Sequoia Capital's 16, with 8 portfolio companies overlapping between the two firms.
- • Tiger Global's aggressive deal pace reflects its expanded capital base: the firm raised a $6.65 billion fund in 2021, following a $3.75 billion fund raised one year prior, enabling geographic and sector diversification across cybersecurity, AI, e-commerce, and aerospace technologies.
- • Sequoia Capital India's Surge accelerator program was designed to address the firm's early-stage investment blind spot in India and Southeast Asia, competing directly with Tiger Global and Falcon Edge's emerging strategy to capture early-stage opportunities.
Summary
Tiger Global Management and Sequoia Capital have dominated India's venture capital landscape as the country experiences a venture funding surge. According to Crunchbase analysis, these two firms alongside Accel have led or co-led the most funding rounds in India through the first three quarters of 2021, collectively participating in rounds totaling more than $3.5 billion.
Tiger Global's investment velocity during this period has been exceptional. In Q2 2021 alone, the firm participated in 81 deals—averaging 1.3 investments per day—representing an eightfold increase from the same quarter in 2020. This aggressive pace occurred during a record global financing environment where venture capital investments surged 157% year-over-year to $156 billion. Among major institutional investors, Tiger ranked first in deal activity, followed by Andreessen Horowitz at 64 deals, Sequoia at 62 deals, and Accel at 60 deals.
Tiger Global's expanded deal-making capacity is underpinned by substantial capital raises. The firm secured a $6.65 billion fund in 2021, following a $3.75 billion fund raised approximately one year earlier. This capital growth has enabled diversification across multiple sectors and geographies. In the second quarter alone, Tiger participated in major transactions including a $650 million investment in rocket builder Relativity Space and a $550 million financing in e-commerce platform Kajabi, ranking as the fifth and sixth largest U.S. deals in that period. The firm also participated in the third-largest cybersecurity investment (Forter) and the fifth-largest AI transaction (Scale AI).
Regarding India-specific positioning, Tiger Global maintains approximately 17 unicorns in its India portfolio—one more than Sequoia Capital's 16 unicorn positions—with 8 portfolio companies representing overlap between both investors. Sequoia Capital has responded to competitive pressure by launching its Surge accelerator program, designed to address its acknowledged early-stage investment gap in India and Southeast Asia. This strategic initiative positions Sequoia against emerging competitors including Tiger Global and Falcon Edge, both of which have begun targeting early-stage deal flow in the region.
Tiger Global's prominence dates to its 2001 founding by Chase Coleman and its early success backing pre-IPO technology companies including Facebook and LinkedIn. The firm's venture capital footprint has expanded considerably as the trend toward extended private company lifecycles and billion-dollar-plus valuations has accelerated deal flow. This structural shift, combined with Tiger's capital scale and investment velocity, has established the firm as a dominant force in global venture capital during 2021.
Tiger Global's investment velocity during this period has been exceptional. In Q2 2021 alone, the firm participated in 81 deals—averaging 1.3 investments per day—representing an eightfold increase from the same quarter in 2020. This aggressive pace occurred during a record global financing environment where venture capital investments surged 157% year-over-year to $156 billion. Among major institutional investors, Tiger ranked first in deal activity, followed by Andreessen Horowitz at 64 deals, Sequoia at 62 deals, and Accel at 60 deals.
Tiger Global's expanded deal-making capacity is underpinned by substantial capital raises. The firm secured a $6.65 billion fund in 2021, following a $3.75 billion fund raised approximately one year earlier. This capital growth has enabled diversification across multiple sectors and geographies. In the second quarter alone, Tiger participated in major transactions including a $650 million investment in rocket builder Relativity Space and a $550 million financing in e-commerce platform Kajabi, ranking as the fifth and sixth largest U.S. deals in that period. The firm also participated in the third-largest cybersecurity investment (Forter) and the fifth-largest AI transaction (Scale AI).
Regarding India-specific positioning, Tiger Global maintains approximately 17 unicorns in its India portfolio—one more than Sequoia Capital's 16 unicorn positions—with 8 portfolio companies representing overlap between both investors. Sequoia Capital has responded to competitive pressure by launching its Surge accelerator program, designed to address its acknowledged early-stage investment gap in India and Southeast Asia. This strategic initiative positions Sequoia against emerging competitors including Tiger Global and Falcon Edge, both of which have begun targeting early-stage deal flow in the region.
Tiger Global's prominence dates to its 2001 founding by Chase Coleman and its early success backing pre-IPO technology companies including Facebook and LinkedIn. The firm's venture capital footprint has expanded considerably as the trend toward extended private company lifecycles and billion-dollar-plus valuations has accelerated deal flow. This structural shift, combined with Tiger's capital scale and investment velocity, has established the firm as a dominant force in global venture capital during 2021.
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