以下文章来源于LP波谱 ，作者韦香惠 LP波谱 . 本账号专注LP市场报道。"波浪、谱系"是识别市场的维度，也是定义市场的坐标；此外，波谱（Pop Art）也意为放低意义与史诗 的执念，认同商业的日常之美。 将投中网设为"星标⭐"，第一时间收获最新推送 这一次，老虎环球募资策略显然保守了不少。 作者丨韦香惠 来源丨 投中网 前些日子，我写过这一轮不少募到钱的 VCPE 都在缩减规模。在这一点上，环球同此凉热。 据外媒报道，老虎环球管理基金（ Tiger Global ，以下简称老虎环球）即将推出一支新的风险投资基金 PIP 17 。知情人士 透露，这次的筹资目标是 22 亿美元。看到这个数字第一反应，我还挺唏嘘的，毕竟发 PIP16 的时候，当时目标 60 亿美 元，最终完成规模就是 22 亿美元。 相对保守的募资策略，据说是出于对人工智能领域可能存在泡沫的担忧。当然，目前老虎环球方面还没对外公开回应这一消 息。 过去几年，我的同事们写过很多关于老虎的报道，记录了这只 " 华尔街之虎 " 如何从 2021 年的疯狂出手到此后几年的频频 受挫。从曾经的猛虎下山，到如今谨慎收缩，老虎环球的转折不仅来自市场，也来自 ...

Group 1 - Tiger Global Management has launched its latest venture capital fund "PIP 17" with a fundraising target of $2.2 billion, marking a shift from a broad investment strategy to a more cautious and focused approach [1] - The new fund will concentrate on artificial intelligence, with its size, strategy, and structure similar to earlier funds, reflecting a reassessment of the current market environment [2] - PIP 16 has achieved a return rate of 33%, while PIP 15 has a return rate of 16%, largely due to early investments in OpenAI and Waymo, which have seen significant valuation increases [2] Group 2 - Tiger Global Management has acknowledged the valuation bubble risk in the AI sector, emphasizing a humble approach to the significant technological shift, while still planning to mitigate risks through selective investments [3] - The founder, Chase Coleman, highlighted a strategy of "actively pruning and reinforcing winners," with PIP 15 having sold 85 portfolio companies, raising over $1 billion for reinvestment in leading firms [3] - The fund's investment style has evolved from a conservative approach in its early years to a more aggressive strategy, with the number of investments increasing from an average of 30 projects per year to 45 in the following decade [4][5] Group 3 - The investment strategy has shifted from targeting the top 2% of tech companies to the top 10%, with rapid due diligence and investment processes, although the pace has slowed in recent years due to changing liquidity conditions [5][6] - In 2023 and 2024, the company plans to invest in only 13 and 8 projects respectively, reflecting a broader industry shift from a "scale-oriented" to a "quality-oriented" strategy [5][6]