Tiger Global Management has raised some $12.7 billion for a new fund to support early-stage, fast-growing tech companies amid rising tech investment that has accelerated during the pandemic.

The multi-strategy firm raised more than $11 billion for its latest growth investment fund, Tiger Global Private Investment Partners XV LP, in less than four months, according to a regulatory filing. The company added more than $1.5 billion from employees to close the vehicle to about $12.7 billion, according to a document sent to investors and viewed by The Wall Street Journal.

Private equity firms said they backed US technology deals totaling $411.16 billion last year, according to data provider Dealogic. That was up from $196.88 billion in 2020, the data showed.

The new fund significantly increases the amount Tiger Global must invest, as the company said it had about $79.1 billion in regulatory assets under management at the start of last year, according to a regulatory filing.

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