According to a letter seen by Reuters, investment firm Tiger Global Management LLC, known for its early bets on tech companies such as Meta and Spotify, informed its limited partners on Friday that it was the target of a series of misinformation assaults by a former employee.
The investment firm was responding to a document, purportedly a draft article by The New Yorker, that had been circulating in recent months with damaging and unsubstantiated allegations against it.A New Yorker representative denied any involvement.
Friday, Tiger Global contacted its investment partners regarding the document, which had been viewed by venture capitalists, hedge fund managers, and members of the media. The company stated that the nine-page document, which discusses the company’s investment strategy and alleged personal misconduct, was written by a former employee.
In a letter to investors, Tiger Global stated, “These attacks are filled with lies, which we believe were written and promoted by a disgruntled former employee with whom we parted ways.” “We regret that you, our clients, have also been affected by this.”
The missive from Tiger Global referred to a document that begins with a paragraph stating that it was written for The New Yorker. The publication’s spokesperson denied any involvement.
It was unclear how far the document had circulated, but according to a letter from Tiger Global, the company has been aware of it for months. A version of it was provided to Reuters reporters earlier this month.
Tiger informed investors that it had hired “experts” to assist it respond to the allegations in the document, but did not provide any additional information. “Unlike the anonymous coward spreading this false narrative on the internet, you know who we are,” wrote Tiger in the letter.Tiger Global has approximately $50 billion in assets under management, but its portfolio was considerably reduced last year due to the decline in tech stocks.