Key Takeaways
- • John Curtius, former partner at Tiger Global Management, is raising $1 billion for Cedar Investment Management, a new venture capital fund focused on early-stage enterprise software companies in the US and Europe.
- • Curtius departed Tiger Global in October 2022 after six years as a partner, during which he oversaw more than 250 venture investments and backed notable unicorns including Databricks, Snyk, and SentinelOne, as well as Indian portfolio companies CleverTap, Gupshup, and Innovaccer.
- • The fund launch occurs during a challenging period for venture capital fundraising, as institutional investors have become more selective amid market volatility and a slowdown in private markets.
- • Curtius will remain engaged with Tiger Global through June 2023 while pursuing his independent fund, indicating a structured transition from his previous role.
- • His track record at Tiger Global—including recognition on Fortune's "40 under 40" list in 2022—positions him as an established operator in enterprise software and growth-stage venture investing.
Summary
John Curtius, a former partner at Tiger Global Management, is in active discussions with institutional investors to raise $1 billion for Cedar Investment Management, his newly launched venture capital fund. According to Reuters, the fund will concentrate on early-stage enterprise software investments across the US and Europe, targeting the sector where Curtius built significant expertise during his tenure at one of the industry's most active venture firms.
Curtius joined Tiger Global in 2017 following a period at Elliott Management, where he specialized in enterprise software investments. Over his six-year partnership at Tiger Global, he oversaw more than 250 venture investments, establishing a track record in identifying and backing high-growth software and infrastructure companies. His notable investments include SentinelOne (cybersecurity), Databricks (data infrastructure), and Snyk (application security), alongside early-stage bets on Indian companies CleverTap, Gupshup, and Innovaccer. His prominence in the venture ecosystem was underscored by his inclusion on Fortune's "40 under 40" list published earlier in 2022.
Curtius formally departed Tiger Global in October 2022, though he will maintain an advisory relationship with the firm through June 2023 as he executes his fundraising. This transition reflects a broader pattern among top-tier venture partners seeking to establish independent platforms, though the timing presents headwinds for new fund formation. The venture capital market has experienced significant contraction in 2022, with institutional limited partners becoming more cautious about committing capital to emerging managers and new fund vehicles.
The $1 billion target represents a substantial first fund for an independent manager, though the timing coincides with a pullback in venture fundraising. Tiger Global itself has adjusted its own capital raise targets downward—its latest fund, PIP 17, aims to collect $2.2 billion, a significant reduction from the firm's historical scale. Curtius's enterprise software focus and demonstrated deal sourcing ability may provide differentiation as he approaches institutional investors during a period of selective venture capital deployment.
Curtius joined Tiger Global in 2017 following a period at Elliott Management, where he specialized in enterprise software investments. Over his six-year partnership at Tiger Global, he oversaw more than 250 venture investments, establishing a track record in identifying and backing high-growth software and infrastructure companies. His notable investments include SentinelOne (cybersecurity), Databricks (data infrastructure), and Snyk (application security), alongside early-stage bets on Indian companies CleverTap, Gupshup, and Innovaccer. His prominence in the venture ecosystem was underscored by his inclusion on Fortune's "40 under 40" list published earlier in 2022.
Curtius formally departed Tiger Global in October 2022, though he will maintain an advisory relationship with the firm through June 2023 as he executes his fundraising. This transition reflects a broader pattern among top-tier venture partners seeking to establish independent platforms, though the timing presents headwinds for new fund formation. The venture capital market has experienced significant contraction in 2022, with institutional limited partners becoming more cautious about committing capital to emerging managers and new fund vehicles.
The $1 billion target represents a substantial first fund for an independent manager, though the timing coincides with a pullback in venture fundraising. Tiger Global itself has adjusted its own capital raise targets downward—its latest fund, PIP 17, aims to collect $2.2 billion, a significant reduction from the firm's historical scale. Curtius's enterprise software focus and demonstrated deal sourcing ability may provide differentiation as he approaches institutional investors during a period of selective venture capital deployment.
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