A PE Team Announces Breakup
Five Years of Effort, Ruined in an Instant.
Recently, multiple media outlets reported that by the end of August this year, with the quiet departure of the last private equity (PE) executive Martin Schimmler, Tiger Global Management officially dissolved its European investment team.
This event not only marks the complete withdrawal of this once-dominant Wall Street hedge fund from the European market but is also seen as a microcosm of the global venture capital industry transitioning from “wild growth” to “rational contraction.”
Full Team Departure, London Office Effectively Defunct
Tiger Global established its London office in 2020, marking its formal entry into the European market.
At the time, the world was in the midst of a capital feast characterized by low interest rates and high liquidity. Leveraging an aggressive strategy of “high bids, fast due diligence, few terms, and no board seats,” Tiger quickly carved out a niche in Europe, investing in dozens of unicorn companies including Revolut, Getir, and Hopin.
However, this expansion was short-lived. Starting in 2022, as global tech stocks plummeted and interest rates rose rapidly, Tiger’s investment portfolio took a severe hit.
According to PitchBook data, Tiger wrote down the valuations of its VC fund holdings in unlisted companies by about 33% in 2022, resulting in a $23 billion reduction in the overall portfolio value.
Against this backdrop, Tiger’s European team began to disintegrate. In 2023, two directors, Anthony Muhanna and Andreas Attalides, left successively; in May this year, several investment analysts, including former Bloomberg reporter Cam Simpson, departed; and by late August, the last PE executive exited.
Martin Schimmler, a veteran in the European private equity scene with prior roles at Credit Suisse, Park Hill under Blackstone, and CVC Capital, was poached by Tiger in 2021 to lead its European PE business. His departure is widely viewed as a symbol of the complete failure of Tiger’s European strategy.
Multiple PE/VC Firms Announce Contraction, Even Transitions
Tiger Global’s contraction is not an isolated case.
Between 2024 and 2025, several globally renowned venture capital firms, facing fundraising challenges, exit bottlenecks, and valuation adjustments, have opted to reduce teams, lower investment frequency, or pivot to new directions.
For instance, US veteran VC firm Foundry Group announced in 2024 that it would cease raising new funds and gradually wind down existing operations. Though it described this as a “planned exit,” industry insiders widely attribute it to poor investment returns in recent years.
Another firm scaling back is Insight Partners, a peer of Tiger Global. In 2024, it lowered its new fund’s fundraising target and slowed investments in high-valuation projects, shifting focus to mid-to-late-stage companies with strong profitability and stable cash flows.
In February this year, well-known VC Tusk Venture Partners announced its exit from the venture capital business, transitioning to a political consulting firm. Founder Bradley Tusk stated that the current VC market offers “high risk, low returns,” lacking appeal.
According to KPMG’s Q1 2025 report, total venture capital investment in the Asia-Pacific region dropped 32% quarter-on-quarter to $12.9 billion, the lowest level in over a decade.
As the capital feast ends, the Wall Street “wolves” once famed for their “fast, fierce, and accurate” approach are now forced to reassess the balance between risk, valuation, and returns.