Tiger Global Management invests $5m in TVF parent
The New York-based investment firm ploughed in Rs 34.6 crore as part of TVF’s Series-D round through its Internet Fund III earlier this month.
The New York-based investment firm ploughed in Rs 34.6 crore as part of TVF’s Series-D round through its Internet Fund III earlier this month. The investment follows Tiger Global’s $5.8 million investment in the startup last June. According to Paper.vc, which tracks funding in startups, TVF’s post-round valuation grew by at least 13.8% in the new round to $82 million, compared to its previous fund-raise. However, it could not be ascertained if the content platform would raise money from other investors as part of its new round.
TVF is known for making shows such as The Kota Factor, Pitchers, Permanent Roomates and Qtiyapa, which are targeted at India’s young, web-savvy demographic. While the startup initially used YouTube as its primary channel, it has built its own website and app, TVF Play, recently.
Over the past few months, Tiger Global has ramped up its pace of investments in India, harking back to 2015 when the company was among the biggest investors in Indian consumer Internet startups. However, most of the investment firm’s new bets have been in the cross-border enterprise and software-as-aservice space.