Latest news with #TigerGlobal
Business Insider
4 days ago
- Business
- Business Insider
How Julian Robertson's legendary Tiger Management has evolved nearly 3 years after his death
Tiger Management is not changing its stripes, but it is hunting in new territory. The legendary money manager founded by late billionaire Julian Robertson has undergone several iterations in its 45-year history. Now, close to three years after Robertson's death, it's firmly in its Tiger 3.0 era. The New York-based firm, known for decades for investing in long-short equity hedge funds, is expanding its remit to wherever talented investors are landing. That's taken the firm to bets on co-investments in public and private positions alongside managers already in Tiger's portfolio as well as long-only funds, private equity offerings, activism firms, and continuation vehicles, according to a person with direct knowledge of the firm's operations. This person is not allowed to speak publicly about the firm. Tiger declined to comment. The change was driven, in part, by Tiger's focus on talent. Internally, the firm looks for people with "winner DNA" who are naturally competitive and operate with integrity, the individual close to the firm said. But the shift in the firm's investment focus is also driven by a change in risk appetite. Tiger 2.0 was one of the industry's most prolific seeders in long-short hedge funds after Robertson returned capital from outside investors in 2000. Dozens of managers got their start thanks to capital from Tiger. The manager, which has billions in capital, has shifted to a more traditional, diversified portfolio because it is running the funds for the Robertson family foundation as well as the multi-generational family's wealth. While Julian Robertson was willing to be more heavily weighted to long-short equity funds when he was managing his wealth, the current team running the book has spread the assets across a more traditional multi-asset mix. Talented people and the Tiger Cub network have been a hallmark of the firm. The first iteration of Tiger Management was a long-short hedge fund that amassed about $22 billion in the late 1990s on the back of strong annual returns averaging 31.5%. It hired young analysts who went on to found some of the most notable firms in the industry, including Coatue, Lone Pine, Viking Global, Blue Ridge, Maverick, and more. The team running the portfolio today has deep Tiger ties. Robertson's son Alex and onetime Tiger and Tiger Global employee Jon Locker lead the firm. They're supported on the investing side by former Tiger Global analyst and Circle Road partner Michael Rosenberg, who previously worked with Locker, and former Fidelity International and ICONIQ investor Mark Hu. Still, Tiger will back young stockpicking funds if the team believes in the people running them. The firm has invested in two young firms of this ilk: Former Engine No. 1 partner Charlie Penner's Ananym Capital and onetime Cadian Capital partner Gor Ter-Grigoryan's Sellaronda Global.
Yahoo
14-07-2025
- Business
- Yahoo
Self-Made Billionaire Karthik Sarma Sold His Entire Stake in Nvidia and Bought This Incredible Stock Up More Than 100% in 12 Months
Karthik Sarma got his start in Chase Coleman's Tiger Global before starting a hedge fund of his own. He likes to hold stocks for a long time, but he's sold out of Nvidia relatively quickly. He's now turned his attention to a value stock working on a big turnaround. 10 stocks we like better than Nvidia › When investor Julian Robertson closed the doors on his hedge fund, Tiger Management, in 2000, he decided to help some of the best and brightest investment managers start hedge funds of their own. The so-called "Tiger Cubs" have gone on to mentor numerous other successful hedge fund managers, and those have in turn produced even more. The lineage of Tiger Cubs is full of great investors, many of whom have created vast amounts of wealth for themselves and those who bought into their hedge funds. One such investor, Karthik Sarma, got his start at Tiger Cub Chase Coleman's Tiger Global hedge fund in 2001. In 2006, he started his own hedge fund SRS Investment Management. Today, Sarma manages a portfolio of investments worth over $10 billion for himself and his investors, and his net worth has climbed to $2.9 billion. Sarma usually likes to hold positions in his favorite companies for the long run. But he recently disposed of a position in Nvidia (NASDAQ: NVDA) after holding at least some of the stock for less than two years. Instead, he's piling SRS' cash into another high-flying stock that's more than doubled in the last 12 months. Sarma didn't buy into Nvidia super early, but he got into the stock early enough to make a considerable profit. Sarma bought the stock in the second quarter of 2023 when it traded between $26 and $44 (on a split-adjusted basis). Sarma has since sold off his Nvidia shares in stages, starting in 2024's Q1. His selling appears to be motivated primarily by the rising valuation of the stock. Its forward price-to-earnings (P/E) ratio climbed above 40 in late 2023 and early 2024. A strong outlook at the start of that year from management pushed investors to revise their earnings estimates higher, but they quickly pushed the stock's valuation well above a 40-times forward earnings multiple again by mid-year when Sarma sold more. Nvidia reach a forward P/E of more than 50x at the start of 2025, the quarter when Sarma sold the rest of SRS' Nvidia shares. Indeed, Nvidia is one of the top chipmakers in the world. It's unlikely that its position as the leading graphics processing unit (GPU) maker will be displaced anytime soon. However, there are some signs that competition could eat into its market share over the next few years as both GPU makers and custom silicon designs displace some of the work Nvidia has come to specialize in. The sell-off in shares of Nvidia in Q1 appeared to be a great buying opportunity for anyone brave enough to buy the volatile stock amid growing uncertainty. The stock is once again trading at an all-time high. But that also has resulted in its forward P/E once again coming up against that 40-times forward earnings multiple where Sarma has sold the stock. It currently trades around 38 times analysts' estimates for earnings over the next four quarters. So, instead of buying Nvidia, Sarma has put his fund's cash to work buying a totally different company. It's up 135% in the past year while Nvidia shares are up just 24% as of July 10. Sarma's biggest purchase in Q1 is about as far away from the AI industry as it gets. Instead, he's put money into Tapestry (NYSE: TPR), the company behind luxury handbag brands Coach and Kate Spade. Coach is far and away Tapestry's cash cow. The brand accounted for nearly 80% of sales over the first nine months of fiscal 2025. And it'll play an even bigger role in 2026 following the sale of the Stuart Weitzman brand. Coach is making up for declining sales for Kate Spade and Stuart Weitzman, and producing better profit margins, too. That said, there's potential for Kate Spade to turn around. Management is strategically closing retail stores and improving inventory management to reduce the number of price reductions. (Tapestry primarily takes a direct-to-consumer approach with its brands, which gives it more control over inventory and pricing.) That should lift profitability for the brand over time. If it can reinvigorate brand growth with international expansion and more strategic store locations, it could produce very strong growth for the company in the future. That said, the Kate Spade brand might not have the pricing power of the Coach brand since it's not considered as high-end. Cash generated by Coach and the sale of Stuart Weitzman will support management's share-repurchase program. It announced an accelerated share repurchase of $2 billion in November after regulators struck down its proposed acquisition of Capri (which would've added brands like Michael Kors and Versace). Strong cash flows should support continued capital returns, which will show up in earnings per share. Management expects free cash flow of $1.3 billion this year, up from $1.1 billion last year. Shares continued to climb higher since Q1 when Sharma added the stock to SRS' portfolio. The stock now trades at a forward P/E of 18. While that's well below Nvidia's 38-times earnings multiple, it's the highest valuation it's traded for in years. As such, it might be worth waiting for a pullback in price before following the billionaire into the luxury handbag stock. Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nvidia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $671,477!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,010,880!* Now, it's worth noting Stock Advisor's total average return is 1,047% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of July 7, 2025 Adam Levy has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool recommends Tapestry. The Motley Fool has a disclosure policy. Self-Made Billionaire Karthik Sarma Sold His Entire Stake in Nvidia and Bought This Incredible Stock Up More Than 100% in 12 Months was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
11-07-2025
- Business
- Mint
Chargebee deepens India play as global clients eye country for more revenue
Subscription and recurring billing management platform Chargebee is increasing its focus on India, as more multinational companies look to the country as a source of revenue. 'India is an important market for two parts: One, our customers to collect money from here. Second, India as a market is growing, especially with the number of companies which are able to list here," said Chargebee co-founder and chief executive Krish Subramanian. At its core, the company helps businesses automate subscriptions, from helping companies figure out the best pricing models for their services to recognizing sources of revenue, collections, and customer retention. Chargebee is currently valued at $3.5 billion after a $250 million Series H round in 2022 co-led by Tiger Global and Sequoia Capital. Read more: Uber for housekeeping: India's newest gig economy boom faces a trust The company's clientele includes large companies like global media conglomerate Condé Nast and British coffee and sandwich chain Pret a Manger, as well as startups like automated marketing platform FMG Suite, restaurant management software Zenchef, and survey-building software company Typeform. Chargebee has already onboarded several companies as part of its deeper focus on India. Its local portfolio already consists of 'hundreds" of companies. Subramanian said that they were planning to add new Indian clients every quarter, but the company hasn't set a target. 'As a product, we've matured and moved away from just one type of merchant to multiple verticals. Now, we're a horizontal product that serves multiple verticals, so we see that as a significant opportunity," Subramanian said. India focus Chargebee's new focus on India can be, in part, attributed to how UPI AutoPay has made payments for recurring billing in India easier for consumers. As a result, it finally makes more sense for the company to work more closely with Indian businesses. 'For systems like ours, the underlying payment processor is a core dependency. When that dependency is eased, it becomes easier for us to work in those markets," Subramanian said. Currently, the company works with RazorPay as its main partner in India but is currently actively scouting out others. However, pricing-wise, Chargebee costs significantly more than Zoho Billing. For example, Chargebee Billing costs nearly ₹50,000 a month for up to ₹80 lakh a month. In comparison, Zoho Billing's comparable equivalent costs ₹3,499 per month but allows 100,000 invoices a year. However, both Chargebee and Zoho Billing do have customised enterprise offerings. Several global companies over the years have been looking to India, especially given that they're expecting a significant chunk of their revenue to come from here. For Chargebee's clients, some of them are expecting at least 30% of their revenue to come from the country. 'Our global customers have significant business in India. We help them navigate collecting money from Indian customers, being tax compliant while also reducing the overheads of collecting money with the least amount of failures, the right payment methods," said Subramanian. Read more: DMart's Q1 results to test investor optimism in CEO succession plan Most of the company's revenue comes from North America, which accounts for 41% of its revenue and Europe, which accounts for 40%, with the rest being made up for by Australia and New Zealand. With its entry into India, the company doesn't foresee giant gains to be made just yet. 'I expect revenue contribution to be right now in between 1 to 2% probably even for the next three years, because those other markets are still growing faster for us," Subramanian said. Acquisitions Between 2021 and 2022, Chargebee made a slew of acquisitions, acquiring three companies in that time: Revlock, a revenue recognition tool; Brightback, a customer retention platform; and numberz, a smart accounts receivable and collections automation platform. 'Revenue recognition is a very important part of the business. So, we added that capability through an acquisition," Subramanian said. In 2025, the company made two more acquisitions, bringing its total to five with the buyout of INAI, a payment, data intelligence and observability platform and Trainn, its most recent acquisition, which creates personalised videos for customer training purposes. Read more: Ather Energy says tech innovation, not sales volume, will win profitability race Back in 2022, the company was reportedly planning to be ready to go public over the next three to five years. However, when asked about an initial public offering in the US, Subramanian said, 'Probably not for the next couple of years, simply because I think now is the best time to build privately because there is so much transformation happening in the market." He added that for now, the company's investors, including Accel, Peak XV Partners, Steadview Capital, Sapphire Ventures, and others, were happy to let them grow privately. 'I'm not going to push for going public right now."
Time of India
13-06-2025
- Business
- Time of India
Top trading apps for market execution in 2025
It has never been easier to trade on the go, thanks to these top trading apps for market execution that empower retail investors with tools once reserved for financial institutions. These trading platforms offer intuitive mobile interfaces, lightning-fast trade execution, and real-time market data, ensuring you stay ahead of the curve. But with countless options out there, how do you pick the right one? This listicle covers the top trading apps in India that provide lightning-fast execution, real-time data, and user-friendly interfaces so that you never miss a market opportunity again. Whether you're a beginner or seasoned investor, these apps are designed to help you make informed decisions quickly and efficiently. With smart trading tools and high-speed performance, you'll never miss a market opportunity again. 1 . Groww – For seamless execution and intuitive UI Groww stands out as a trading and investing app that perfectly balances an easy-to-use interface with powerful, seamless trade execution. Trusted by more than 10 million active investors and traders, it is India's top stock trading app. Live Events Whether you're a beginner or professional trader, Groww's features are designed to make trading fast, efficient, and reliable. Key features: Scalper mode for ultra-fast order execution in as little as 0.05 seconds. Advanced option chain Web terminal for traders One-click iceberg orders Smart positions and smart exits Its intuitive design, combined with powerful tools like margin trading, intraday screeners, and smart exits, makes it an ideal platform for anyone looking to trade smarter and faster. Ideal for: Beginners and pro-traders Available on: Android, iOS, Web Brokerage charges: ₹20 or 0.1%, whichever is lower, per executed order (minimum ₹5) 2. Zerodha Kite – Precision and speed Zerodha Kite is the gold standard when it comes to market execution speed. Zerodha is India's largest retail stockbroker that combines powerful tools and an ultra-light platform for intraday and swing traders. Key features: Advanced charting with over 100 indicators GTT (Good Till Triggered) orders for flexibility Seamless integration with Zerodha Coin and Zerodha Console Option to trade in equity, commodities, and currencies Fast and reliable during high-volume trades Its low-latency engine ensures minimal delay between placing and executing trades, an edge serious traders can't overlook. Ideal for: Active traders and technical analysts Available On: Android, iOS, Web Brokerage Charges: ₹20 or 0.03% per trade (whichever is lower) 3. Upstox – Best for high-volume traders Upstox has quickly gained a reputation for offering powerful features at a competitive price. Upstox is backed by Tiger Global and endorsed by cricketer Shikhar Dhawan. It also provides fast execution and a wide variety of investment options. Key features: Lightning-fast trade execution TradingView and ChartIQ integration Easy-to-use watchlists and price alerts Margin trading facility IPO investment directly from the app What sets Upstox apart is its commitment to performance, particularly during volatile market sessions. Ideal for: Traders looking for fast execution and broad asset class support Available on: Android, iOS, Web Brokerage charges: ₹20 per order 4. Angel One – Traditional broker meets tech Angel One (earlier known as Angel Broking) is a tech-first trading app with decades of experience in the market. It is built for both beginners and seasoned traders, with built-in recommendations and tools like ARQ Prime. Key features: One-tap order placement SmartAPI for algo trading Voice search for stocks Real-time market feeds Customised watchlists Angel One stands out for its customer support and analytics, especially for investors transitioning from traditional platforms. Idealfor: Investors who want full-service support with app convenience Available on: Android, iOS, Web Brokerage charges: ₹20 per executed order 5. ICICI Direct Markets App – Bank-backed assurance ICICI Direct is a trusted name with integrated banking and trading features, which enables fund transfer and margin availability almost instantly. The banking-level security that ICICI Direct Markets brings to your palm is also commendable. Key features: Real-time price updates Derivatives and currency trading eATM for instant fund withdrawal Expert stock picks and research Access to in-house reports While its charges are slightly on the higher side, the convenience of integrated banking and strong research tools make up for it. Ideal for: Investors seeking banking integration and trusted financial backing Available on: Android, iOS, Web Brokerage charges: Varies by plan, can go as low as ₹20 per order 6. Fyers – Ideal for chart lovers Fyers is a relatively new entrant, but it is swiftly gaining popularity, especially amongst chart-savvy traders. Its strength lies in its advanced charting features and sleek interface, powered by TradingView. Key features: 30+ chart types and over 100 indicators Drag-and-drop interface Bracket and cover order support 5-minute payout feature Paper trading functionality Fyers is ideal for those who trade based on technical indicators and patterns. Ideal for: Technical traders and chartists Available on: Android, iOS, Web Brokerage charges: ₹20 per order 7. Paytm Money – Simplified experience with fast onboarding This app is backed by the Paytm ecosystem and makes trading simpler by integrating with the user's digital wallet and bank. It has a clean interface with real-time updates and a quick onboarding process. Key features: Seamless KYC and onboarding Nifty and Sensex live tracking Stocks, F&O, and IPOs Investment insights and notifications Though basic in terms of tools, Paytm Money is a great place to start for first-time traders looking for simple execution and fund management. Ideal for: Beginners entering stock markets through digital platforms Available on: Android, iOS Brokerage charges: ₹10 per order for delivery and intraday 8. 5paisa – Budget-friendly and feature-rich If you are cost-conscious but don't want to compromise on features, then 5paisa is the best of both worlds. 5paisa is good for budget traders as it has one of the lowest brokerage plans in the market. Key features: Smart Investor advisory pack Auto Investor (robo advisory) Stock SIPs Single login for all investments The app also supports international investing, making it a versatile tool for diversified portfolios. Ideal for: Cost-conscious traders looking for an all-in-one investing Available on: Android, iOS, Web Brokerage charges: ₹10 per order Which trading app should you choose? Each of these trading apps has its advantages. Here's a quick summary: App name Ideal for Brokerage fee Groww Beginners and UI ₹20/order Zerodha Kite Fast execution and charting tools ₹20/order Upstox High-volume trading ₹20/order Angel One Research and tech blend ₹20/order ICICI Direct Bank-linked trading Varies Fyers Technical analysis ₹20/order Paytm Money Beginners with wallet support ₹10/order 5paisa Budget-conscious investors ₹10/order
Entrepreneur
13-06-2025
- Automotive
- Entrepreneur
Spinny Expands Funding Round to $170 Million with WestBridge Backing
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Used car marketplace Spinny has increased the size of its ongoing funding round to $170 million, following a fresh infusion of capital from investment firm WestBridge Capital. The development marks a notable addition to the round, which was initially pegged at $131 million and led by Accel Leaders Fund. "WestBridge has joined the round with $35–40 million in primary capital, which will push the total fundraise to around $170 million," one of two sources familiar with the deal told Entrackr. The sources also indicated that the valuation of Spinny remained flat, between $1.5 billion and $1.7 billion, despite the extended funding. The company was last valued at $1.8 billion in July 2021 when it attained unicorn status. Spinny, founded by Niraj Singh, has now raised more than $500 million to date. Previous backers include prominent names such as Tiger Global, Elevation Capital, General Catalyst, and Fundamentum. In December 2021, cricket legend Sachin Tendulkar also joined as a strategic investor and brand ambassador, although the company has since focused more on operational expansion than public partnerships. The full-stack platform offers end-to-end services for used car transactions, including vehicle sourcing, inspection, refurbishment, documentation, and financing. In addition to its core marketplace, Spinny recently acquired Autocar India, a well-known auto media and content platform, strengthening its foothold in the automotive ecosystem. The company also launched its own non-banking financial company (NBFC), a wholly owned subsidiary, to provide in-house vehicle financing solutions. Despite a slowdown in India's tech funding landscape over the past year, Spinny has managed to maintain investor interest while making strides in operational performance. For the financial year ending March 2024, Spinny reported a 14 per cent increase in operating revenue to INR 3,725.02 crore, up from INR 3,259.78 crore in FY23. At the same time, the company narrowed its losses by 28 per cent, bringing them down to INR 590.37 crore.
