Coleman's tiger global fund is reported to have cut the value of its risky assets by 24% this year, reducing assets by $42 billion, one of the biggest asset declines in the industry's history.

As of Sept. 30, Tiger Global's venture capital division had about $43 billion in assets under management, after taking into account financing and investor reallocation, down from $65 billion at the end of last year. The assets of the public investment arm of Tiger Global Fund have shrunk from $35 billion to $15 billion, according to people familiar with the matter.

The public investment sector operates hedge funds, long funds and cross funds, all of which are likely to post record losses this year. Its hedge fund's losses widened to 54.6 per cent this year as of October.

With the stock market plummeting this year, investors have been waiting to see when the valuations of closed shareholdings (closely held firms) will fall. The writedowns of the Tiger Global Fund reveal that life is also difficult for some once-glamorous private companies, especially at a time when many are struggling to gain access to capital.

Tiger Global Fund, which focuses on the technology and consumer industries, uses a basket of comparable public offerings and corporate financial statements to price its private positions. As of Tuesday, the technology-heavy Nasdaq composite index was down 29% so far this year.

Tiger Global Fund's declining holdings include Stripe, Instacart and the now-bankrupt cryptocurrency exchange FTX. Tiger Global's largest venture fund has raised valuations of nearly 40 companies this year after acquisitions or subsequent rounds of financing, according to a person familiar with the matter.

The private investment arm headed by Scott Shriver expanded rapidly last year, tripling its assets and investing in 377 companies, according to PitchBook.

As of September, total assets under management at Tiger Global Fund were about $58 billion, down from $100 billion at the end of last year.