Tiger Global Raises $8.8 Billion in First Close of Biggest Fund

Chase Coleman’s Tiger Global Management has attracted $8.8 billion in the first close of its biggest venture fund on record.

Employees kicked in about $1.5 billion, roughly $500 million more than they initially intended to invest, according to investors who asked not to be identified because the information is private.

Tiger’s venture capital unit, led by Scott Shleifer, has already called about a third of the cash and is putting it to work, the investors said. The fund has a $10 billion target and will have its second close in March.

A spokeswoman for the New York-based firm ...