TechFlow news, according to Bloomberg, citing sources, consulting firm Bain & Company was one of the firms that helped Tiger Global conduct due diligence on its investment in FTX. Tiger Global has now written down its $38 million stake in FTX to zero, while Tiger Global pays Bain more than $100 million annually for research on private companies. Representatives of Tiger Global declined to comment, and Bain Capital did not immediately respond to requests for comment.
The report said Tiger Global's FTX investment was only a small portion of its $12.7 billion Private Investment Partners 15 fund. PitchBook data shows the firm first backed FTX in October 2021 when FTX was valued at $25 billion, and again in January this year when FTX was valued at $32.5 billion. FTX was one of 358 venture investments made by Tiger Global last year, and one of 290 investments so far in 2022.
Earlier reports indicated that after writing down its FTX investment, Tiger Global launched a new fund aiming to raise $6 billion, though specific investment amounts were not disclosed at the time.Original link
