When Tiger Global made its first seed investment in Indian e-commerce enablement startup Shopflo earlier this month, it created a stir in the industry. The New York-headquartered hedge fund is known so far to participate in larger rounds at later stages in private companies. Its investment has paved the way for some of the startups it backed achieve unicorn status.
But here it was now taking part in deals at a much smaller and earlier stage – in Shopflo’s $2.6 million seed round, alongside other backers at a pre-product stage.