Funding agency Tiger World Administration LLC, identified for its early bets on tech corporations like Meta and Spotify, on Friday advised restricted companions it was focused in a sequence of misinformation assaults by a former worker, in response to a letter seen by Reuters.
The agency was responding to a doc, allegedly a draft article by The New Yorker journal, making the rounds in latest months with damning and unsubstantiated allegations in regards to the funding agency.
A spokesperson for the New Yorker denied any involvement.
On Friday, Tiger World reached out to its funding companions in regards to the doc, which has been seen by enterprise capitalists, hedge funds and in media circles. The agency stated the nine-page doc, which discusses the agency’s investing technique in addition to alleged private improprieties, was written by an worker with whom it had not too long ago parted methods.
“These assaults are full of lies, which we strongly consider have been written and pushed by a disgruntled former worker with whom we parted methods,” Tiger World stated in its letter to buyers. ”We’re saddened that you just, our shoppers, have been subjected to this as properly.”
Tiger World’s letter involved a doc that begins with a paragraph saying it was written for The New Yorker journal. A spokeswoman for the publication denied any involvement.
It was unclear how far the doc has unfold, however the Tiger World letter stated the agency has been conscious of it for a number of months. Reporters for Reuters obtained a model of it earlier this month.
Tiger advised buyers it had engaged “consultants” to assist it reply to the allegations within the doc, with out offering additional particulars. “In contrast to the nameless coward spreading this false narrative on the web, you realize who we’re,” Tiger wrote within the letter.
Tiger World has roughly $50 billion of property below administration, however noticed its portfolio considerably trimmed final yr as tech shares faltered.