Tiger Global

Tiger Global's different game: maximize dollars deployed at 18% IRR, not max IRR

Shaan explains Tiger Global's strategy from the 'Playing Different Games' essay: instead of being selective to maximize IRR, they shove as much capital as possible into deals that clear an 18% IRR floor, deploying fast and building reputation as the fast, founder-friendly checkbook.

“And, um, he says what Tiger is going to do is like, I'm going to deploy as much capital as humanly possible at an 18% IRR. So I'm not trying to maximize IRR. I'm trying to maximize the gross dollars that I can shove into a pipe that will give me 18%. So I don't want to fall below 18%.. But I don't want to try to get to 28% if it means I'm going to deploy half as much money.”

Steal thisCompete by maximizing volume at an acceptable return floor rather than chasing the highest per-deal return.