Exclusive: Tiger Global’s Scott Shleifer and Chase Coleman make personal bet in DealShare

Tiger Global has been a storied investor around the globe as well as in India. The New York-based hedge fund has changed the rules of startup investing by making bold bets on Flipkart and since then it has helped in making around two dozen unicorns in the country. 

In 2021, its investments made nine unicorns including Urban Company, CRED, ShareChat, Groww, Moglix and Gupshup.

Tiger Global has been a formidable backer for Indian startups at lofty valuations, but its executives have shied away from making personal investments in India. However, that’s not the case anymore. Scott Shleifer and Chase Coleman have invested in DealShare, regulatory filings made by the Bengaluru-based company show.

According to Fintrackr’s estimate, both partners at the twenty-year-old fund have picked up 0.5% stake each in DealShare. Along with the duo, Ganesh Krishnan, partner at Growth Story, has also picked up 1.87% in the 33-month-old firm. The amount invested by the trio remains undisclosed as price per share is not specified in the filings.

Importantly, Tiger Global is in the last leg to lead the ongoing round in DealShare. Entrackr had exclusively reported about Tiger Global spearheading the company’s Series D round on April 13. The company had already raised $28 million from Falcon Edge’s Alpha Wave Incubation or AWI, WestBridge and Matrix.

Apart from Shleifer and Coleman, DealShare also raised capital from Falcon Edge’s co-founders and partners: Navroz D Udwadia and Ryan Khoury. 

Entrackr had exclusively reported this on May 10.

Last month, DealShare had announced that it raised Rs 70 crore or $9.5 million in debt from Alteria Capital and it has also made the allotment for a partial amount now. As per filings, the company has allotted 3,000 debentures of Rs 100,000 each along with 2,494 D1 preference shares to Alteria capital to raise Rs 34.3 crore or $4.6 million.

Since the beginning of this year, social commerce companies have been attracting a significant amount of investments from growth stage backers. While SoftBank had led a $300 million round in the segment’s posterboy Meesho and turned it into a unicorn, CityMall is all set to corner up to $30 million from General Catalyst. 

Entrackr had exclusively reported the potential round on May 21.