Tiger Global Arranges Loan Backed Partly by AI Stakes Amid Fundraising Effort

Barclays credit line allows Tiger fund to borrow against OpenAI, Waymo investments

Tiger Global Management LLC arranged a financing package that enables it to tap into the gains on some of the firm’s best performing private investments, including OpenAI and Waymo.

Barclays Bank Plc is supplying a revolving credit line to Tiger Global Private Investment Partners 16 LP, a venture fund that raised $2.2 billion two years ago, according to regulatory filings and people familiar with the matter. The credit line is backed by the fund’s holdings in closely held companies, some of which are AI related and have rapidly appreciated, albeit in private markets, the past several years.

One possible use for the credit line would be returning cash to PIP 16’s investors without selling portfolio investments that have room to grow, especially if some of these companies go public this year. That might help get these investors to commit more cash for the firm’s next venture fund, Tiger Global Private Investment Partners 17, which is scheduled to complete its first round of fundraising this month.