As of December, the fair value of 170 of the 250 private firms backed by the New York-based asset manager’s Private Investment Partners XV fund had decreased since its investment, according to documents obtained by The Information. That list included Toronto-headquartered 1Password. Tiger revised the worth of its US$115-million stake in the firm to US$92.1 million. 1Password did not respond to The Logic’s request for comment. (The Information, The Logic)

Talking point: Tiger was a major player in—and driver of—the boom in tech fundraising during the mid-pandemic, racking up scores of fast-close, high-valuation deals. It also made increasing forays across the border. In addition to 1Password, PIP XV led or participated in mega-rounds for Float, Klue, RareCircles and ResQ, per Pitchbook data; other Tiger funds backed Ada, Dooly and Xanadu. But PIP XV, closed in March 2022, may have marked the top. Last year, Tiger wrote down the value of its private-firm stakes by 33 per cent, and it’s reportedly cut its fundraising target for its next fund. In March, Montreal-based RenoRun filed for creditor protection after failing to raise fresh capital, just over a year after a Tiger-led US$142-million Series B.