Tiger Global first invested in OpenAI in 2019, contributing $50 million at a valuation of $14.5 billion. In 2021, the firm acquired approximately $125 million in secondary shares. Additionally, Tiger Global participated in the 2024 funding round, which valued the company at $157 billion.
As of March 31, 2026, OpenAI closed a funding round of $122 billion, reaching a post-money valuation of $852 billion. Tiger Global currently holds approximately 1% of OpenAI. Based on a valuation of $500 billion, this stake is estimated to be worth roughly $5 billion.
The investment is primarily held within the PIP 16 venture vehicle, which reported a paper gain of approximately 33% year-to-date by late 2025, driven by positions in OpenAI and Waymo. The firm has also launched a follow-on fund, PIP 17, with the combined size of both funds estimated at $2.2 billion.
OpenAI has confidentially filed for an IPO, with market speculation suggesting a potential valuation near $1 trillion. The company is expected to go public in late 2026 or 2027. This public offering would provide Tiger Global with a mechanism to convert its paper gains into realized returns.
