Tiger Global becomes timid in a down market

Plus, OpenAI rival nets $2B valuation December 12, 2023 Hi, {NAME}. Perhaps no other startup investor exemplified the 2021 venture funding heyday like [Tiger Global Management](. The New York-based crossover investor participated in startup funding deals worth tens of billions that year. But now it looks like Tiger prefers to lay low in [the new funding market](. Today, [we look at the investment giant’s funding pace this year, and what it says about the state of startup funding in 2023](. Plus, [a16z]( backs a France-based competitor to [OpenAI]( in a [$487 million deal](. 🐯 [Tiger bit off a lot less this year]( Even last year, as venture funding had [already slowed]( significantly, [Tiger Global Management]( still took part in 288 startup funding deals, Crunchbase data shows. This year, it’s down to less than 10% of that total. We look at what the venture investor has been backing — and what that might say about the state of the startup world in 2023 and beyond. Related Crunchbase Pro list: [Tiger Global Venture Deals]( 💰 [OpenAI competitor nets $2B valuation]( [Mistral AI]( a Paris-based competitor to [OpenAI]( and [Anthropic]( netted $487 million in new funds in an [Andreessen Horowitz]( round that values it at $2 billion, marking just the latest in a long list of massive funding deals to AI startups this year. 🤖 [Sapphire Ventures on its billion-dollar commitment to AI]( Since spinning off from SAP in 2011, [Sapphire Ventures]( has raised six funds, backing startups in enterprise software, AI and even sports. In the latest in our series of interviews with active AI investors, we speak with firm partner and President [Jai Das]( about the firm’s investment focus. Related Crunchbase Pro list: [Sapphire Ventures’ AI Portfolio Companies]( 🏅 [Top 10: Energy and AI lead surprising busy week in venture]( While energy led last week’s largest U.S. startup funding deals with [X-energy]( closing of its Series C, artificial intelligence and biotech weren’t far behind with funding to [Elon Musk]( [newest venture]( and a Series B for a [biotech company]( that uses AI. See also: [The Crunchbase Megadeals Board]( 📉 [How to limit your exposure when the AI bubble bursts]( Between the incredible enthusiasm around artificial intelligence — evident in some eyebrow-raising funding deals — and piles of dry powder amassed by VC firms, the conditions are ripe for an AI bubble, argues guest author [Dan Gray](. He offers some thoughts on how to avoid getting caught up in a hype cycle. [Crunchbase ROI Calculator]( [See the number of new accounts Crunchbase can add to your funnel with our advanced prospecting ROI calculator powered by Crunchbase data.]( [Calculate]( Recent Investments [Mistral AI]( [$130M]( / [Debt Financing]( Mistral AI is a developer of an open-source platform that assembles team to develop the generative AI models. Categories: Artificial Intelligence (AI) • Developer Platform • Enterprise Software • Generative AI • SaaS Founders: [Arthur Mensch]( [Guillaume Lample]( [Timothee Lacroix]( Investors: [NVIDIA]( [Salesforce]( [BAE Systems]( [$35M]( / [Grant]( BAE Systems is a defense, security, and aerospace company that provides its products and services to military and commercial customers. Categories: Aerospace • Manufacturing • Military • National Security • Navigation Investors: [U.S. Department of Commerce]( (Lead) [Chip]( [5.0M GBP]( / [Equity Crowdfunding]( Chip is a savings and investments app that utilizes open banking technology to enable customers to deposit to investment funds. Categories: Banking • Finance • Financial Services • FinTech • Mobile Apps Founders: [Alex Latham]( [Simon Rabin]( Investors: [Matteo Gamba]( More Fundings Company Amount / Round Lead Investor [Yogi]( $10M / [Series A]( [Blueprint Equity]( [CYNGN]( $5.0M / [Post-IPO Equity]( - [Gaingels]( $120K / [Venture Round]( - [Artisan AI]( Unknown / [Venture Round]( [Sequoia Scout]( [All Recent Funding Activity]( Recent Acquisitions [Domestique Consulting]( Pending acquisition by [Morrow Sodali]( for Unknown More Acquisitions Company Acquired By Amount [Chinar Law Institute]( [Judiciary Gold by Toprankers]( Unknown [All Recent Acquisition Activity]( #{Rails.configuration.daily.cb_url} Discover innovative companies and the people behind them. [Follow Us on Crunchbase]( [View Jobs on LinkedIn]( [Follow Us on Twitter]( [Like Us on Facebook]( 564 Market St, San Francisco, CA 94104 © 2023 Crunchbase Inc. All rights reserved. [Privacy Policy]( | [Terms of Service]( [Unsubscribe]( from Crunchbase Daily.