NEW YORK — Tiger Global marked its 25th anniversary at the start of March 2026 by sending a letter to investors reflecting on its quarter-century of investing. The investment firm, which manages $50 billion in assets and employs 160 people, started trading with $42 million under the name Tiger Technology.

A dollar invested in Tiger Global's flagship hedge fund at inception would be worth $28 after fees at the end of 2025, compared to less than $9 for the S&P 500. The flagship hedge fund was down 3.4% through February 2026, while the S&P 500 was up just under 1%, according to a person close to the firm.

The anniversary letter detailed lessons Tiger Global learned from external experts across multiple fields. Bob Rotella, a sports psychologist who has written several books about golf and worked with professional golfers including Davis Love and Padraig Harrington, advised Tiger Global to emphasize the process over the outcome. The firm now evaluates its investments by classifying them to separate the merits of its investment process from outcomes influenced by luck.

Jim Collins, author of management books including "Good to Great: Why Some Companies Make the Leap … and Others Don't," told Tiger Global to focus on consistency and steadiness in processes. Collins used the 1911 race to the South Pole, won by Roald Amundsen, to emphasize the importance of consistent output.

Nick Saban, who coached the University of Alabama football team for almost two decades before retiring in early 2024, told Tiger Global that there are two choices: the pain of discipline or the pain of disappointment. "If you want to be a champion, expect to be uncomfortable," Saban said.

Misty Copeland, the first Black principal dancer at the American Ballet Theatre, advised Tiger Global that people absorb strength from others around them in training and on stage. Tiger Global maintains high talent density and deeply vets new hires, finding that individuals with a "you first" mindset are the best team members.

Adam Grant, who teaches at the Wharton Business School and authored "Hidden Potential: The Science of Achieving Great Things," helped Tiger Global understand the nature of givers, takers, and matchers as organizational archetypes. Danny Meyer, founder of Union Square Hospitality Group who owns the Shake Shack chain and restaurants including Manhatta and Gramercy Tavern, advised Tiger Global to view investing as a service business. Meyer advised that culture is the foundation for building an investment platform and that Tiger Global should aim to be a firm people want to work with.

Tiger Global has likened itself to professional golfer Rory McIlroy. The firm's crossover fund was up 2.1% through February 2026, according to a person close to the firm.