Valiant Capital Management is a $2.8 billion global long/short equity hedge fund founded by Christopher R. Hansen in March 2008. Prior to that, Christopher Hansen was a Managing Director of Blue Ridge Capital from 2001 to January 2008. In 2012, the fund had $2.7 billion in assets and had been closed to investors until 2016. Even though it opened to new capital in 2016, it still remained relatively small and has around $2.77 billion in regulatory assets under management. The fund explained its decision to remain small, stating that it would allow it to be more active.
The fund rose to prominence due to its investments in start-ups, including several tech unicorns – start-ups valued at over $1.0 billion. Among Valiant’s most profitable investments were Facebook and Alibaba Group Holdings Ltd which netted gains of over 30% each. In 2016 Valiant had nearly two dozen investments in various start-ups including Dropbox, Evernote, Pinterest and Uber.
Even though Valiant only opened to new money in 2016, it had launched another fund in 2014. The fund, called Valiant JM India Opportunities Fund, planned to raise up to $900 million and was going to invest in distressed assets in India. Valiant JM India Opportunities was founded in partnership with JM Financial, which had experience in reconstructing bad assets. Among Valiant’s India investments is Mahindra First Choice Wheels Ltd., Mahindra Group’s used-car retail business, which in 2015 raised $15 million from Valiant.
Chris Hansen moved to Seattle when he was five years old and he grew up in the Seattle area. He is trying to bring NBA back to Seattle. In 2013 he tried to buy Sacramento Kings to move it to Seattle buy failed. Christopher R. Hansen spent more than $100 million to buy land with the purpose of building an arena for Seattle’s next NBA team.