Tiger Global Partner John Curtius Leaves Company

John Curtius, a partner at Tiger Global who over the past five years oversaw a deluge of venture capital investments in software and business services firms, is preparing to leave the company. hedge fund.

Curtius oversaw some of Tiger Global’s prominent software investments, such as Databricks, Toast and Snowflake. He will leave the company in 2023, two people familiar with the matter said.

Curtius, Chase Coleman, the founder of Tiger Global, and partner Scott Shleifer had begun discussing Curtius’ departure this summer, according to two people familiar with the matter. Curtius plans to raise a new fund in 2023 aimed at software startups, according to a source familiar with the matter.

Curtius joined Tiger in 2017 from hedge fund Elliott Management and reported to Shleifer, who leads the company’s business operations.

According to PitchBook data, Curtius led more than 100 venture capital investments Tiger Global made in early- and growth-stage venture capital firms, becoming one of the most prolific investors in Silicon Valley.

Within Tiger, Curtius became one of the company’s most active investors, playing a major role in investing its private funds, which are separate from Tiger’s hedge fund. Among its founders, Tiger was known for his speed in closing deals, often beating competitors by quickly agreeing to fund deals without the need for board seats.

Curtius is listed as a board member on just two of his investments, according to PitchBook data.

Tiger Global’s flagship fund has fallen 50 percent in value this year, amid a deep correction in public market valuations. In letters to investors, the group noted that it was hit hardest by public software positions and the inability of its hedges to dampen market volatility.

“We are grateful for all his contributions to Tiger Global and appreciate his work ethic and intellect,” Tiger Global management said in a letter to investors on Monday informing them of his departure, which was reported by the Financial Times.

In the letter, Tiger confirmed to investors that its public funds lost money in the third quarter and that it has written down its extensive portfolio of private venture capital investments every month this year.

“We are entering the last quarter of 2022 after accepting that this is not a year where the scoreboard will make us proud and with our minds fully focused on the future,” Tiger said in the letter.

Tiger Global and Curtius declined to comment.

Video: How it all turned sour for Tiger Global | FT Big Deal

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