Hedge fund Tiger Global has lost about two-thirds of the cumulative gains it has made for investors since its inception in 2001, according to data from an investor who tracks the industry.

LCH Investments estimates that Tiger Global has lost around $17 billion this year. As 2022 approached, Tiger Global had made net gains of $25 billion, according to LCH, which runs a fund of hedge funds and tracks the top 20 hedge fund managers each year. Tiger Global lost $1.5 billion last year.

The estimates were first reported by the Financial Times.

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Tiger Global’s top investments at the end of last year were JD.com, Microsoft, Sea Ltd, Nu Holdings and Snowflake, according to its 13-F filing with the Securities and Exchange Commission. All of these stocks have fallen at least 21%, with Singaporean tech company Sea skidding 71% in 2022.

Tiger Global was founded by Chase Coleman, one of the little tigers who worked at Julian Robertson’s Tiger Management.

Bill Hwang is the most notorious of the Tiger cubs, having been accused by the Justice Department of fraud over his leveraged investments that blew up his family office Archegos Capital Management.

This article was published by MarketWatch.