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The Silent Epidemic: Why Tinnitus Affects Nearly a Billion People and Medicine Still Can't Measure It
Almost a billion people around the world live with a medical condition that doesn’t have a diagnostic tool to measure it and locate its source. Don’t believe me? Unfortunately for sufferers of tinnitus, it’s a reality. This lack of a diagnostic tool means many tinnitus patients have significant difficulty getting accurate treatment. Since this issue isn’t heavily publicized, many people are unaware of the difficulties tinnitus patients go through in being diagnosed and receiv

TVCM
Aug 253 min read


The Outlier Problem: Understanding the Real Distribution of Venture Returns
Notoriously, venture capital is at the mercy of “Power Law” distribution. Correlation Ventures, a firm taking a data driven approach to investing, analyzed over 21,000 funds in the US venture market from 2004 to 2013, determining the returns each generated as a multiple of the value of the fund. What they found is a sobering reality. A majority, ~65%, failed to generate even 1x return(the value of the fund), and only 4% generated a return of 10x or more, the classic benchmar

TVCM
Aug 113 min read


The Harsh Truths Behind America’s Never-Ending Anesthetic Drug Supply Crisis
Imagine living in a country where the most widely used anesthetic drug in medicine is chronically in short supply, and has been for the past 17 years. In 2009, anesthesiologists in the US started having trouble obtaining the sedative Propofol, the most popular anesthetic globally because it works fast and wears off quickly, making it ideal for situations where a patient admitted to the hospital is released on the same day. Due to various industry forces, the shortage of Prop

TVCM
Aug 34 min read
Four Years of Paying More Than You Receive: The Private Capital Fee Problem
If you’re an investor, you’re overpaying. This isn’t by accident, it’s the result of traditional venture capital's “exit optimization” strategy, and lack of adjustment by most VC firms to an evolving industry. This has presented itself as a disadvantage to investors. Since 2022, US VC fund managers have called for 1.6x more capital than they have distributed. In numbers, over the past 4 years US VC firms have drawn $196.9 billion more from investors than they have returned,

TVCM
Jul 83 min read
Investment Memorandum
I. OVERVIEW Tiger Venture Capital Management (TVCM) was born on a simple observation: traditional venture capital strategy has stopped working for most investors, most founders, and most companies; so we built a different approach. II. THE PROBLEM WITH THE TRADITIONAL VC MODEL Traditional venture capital is structurally misaligned with the interests of the people it claims to serve — investors and founders alike. For Investors Returns depend entirely on IPO or acquisition eve

TVCM
Jun 75 min read
From Zombie Funds to Sustainable Returns: TVCM's Answer to VC's Broken Model
For six consecutive years, the venture capital industry has kept a dirty secret: it's taken more money from investors than returned. Not because portfolio companies failed, but because their firm's business model hasn't adjusted well to a changing industry, paying managers and leaving investors forgotten. This evolving of the venture capital industry has created “zombie investments”, the number of which has increased dramatically since 2022. According to McKinsey, more than 1

TVCM
Jun 75 min read


The “Mega-Buyout” & Current State of Private Equity
In 2006, the private equity industry was in its “mega-buyout” phase. Low interest rates on borrowed funds, loosening lending standards by banks, and regulatory auditing legislation such as the Sarbanes-Oxley Act greatly increased investor confidence, leading to the biggest boom in the private equity industry since its inception. That year, private equity firms bought 654 U.S. companies for $375 billion, 18 times the number of transactions closed three years earlier. U.S. base

TVCM
Mar 313 min read
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