Hedge Funds Back Snapchat in Latest Financing Round

The social media company attracted $1.8 billion from a coterie of hedge fund firms, including a few Tiger Cubs.

Several prominent Tiger Cubs and other high-profile hedge fund managers have participated in Snapchat’s new $1.8 billion Series F round of financing.

Snapchat is the photo-messaging application company founded by two Stanford University students who spurned a $3 billion acquisition offer from Facebook several years ago.

To continue reading, subscribe now to Premium Journalism. Already a subscriber? login.