New York's Tiger Global Ups Facebook Stake: Report

tiger New York's Tiger Global Ups Facebook Stake: ReportNew York-based Tiger Global is making Facebook a big part of its sixth private equity fund, according to a report by Bloomberg. 

The firm has $1 billion in commitments and should have more money coming in, two sources told Bloomberg. During its fifth fund, Tiger Global plunked down $164 million for a 1 percent stake in Facebook at a $24 billion valuation. Those are much more attractive terms than the most recent appraisal of the company, a Goldman Sachs investment that slapped a $50 billion price tag on the social networking site. 

If the firm is buying Facebook at twice the price it got only six months ago, it must see a great deal of future upside.

Tiger Global also invests in LinkedIn as well as Chinese internet firm DangDang and Russian firm Digital Sky Technologies — which itself invests in Facebook.

mtaylor [at] observer.com | @mbrookstaylor