Bangalore: Tiger Global Management, the most influential venture capital firm operating in India, has picked up a stake in cab hailing service Uber Technologies Inc., arch rival of Tiger’s portfolio company Ola, according to a report.

Uber closed investments from Tiger Global and T. Rowe Price as part of a new round of funds that may value the company at $62.5 billion, Bloomberg News reported late on Thursday, citing people familiar with the matter.

Uber, Tiger Global and Ola didn’t respond to emails seeking comment, till the filing of this report.

In the second quarter, Tiger Global, which is the largest investor in online retailer Flipkart, increased its stake in Flipkart’s rival Amazon.com Inc. Tiger Global bought 2.44 million shares of Nasdaq-listed Amazon, whose Indian unit is engaged in a bruising market share battle with Flipkart.

Tiger Global is a US-based investment fund that picks up stakes in both public and private companies, which are overseen by different partners. The firm is one of the most prolific e-commerce and tech investors in public and private markets around the world. At various points in time, Tiger has held stakes in China’s Alibaba Group Holdings and Facebook Inc.

Tiger Global’s investments in direct rivals of Flipkart and Ola, two of India’s three most valuable start-ups, come in the wake of a funding slowdown for start-ups. Along with other investors, Tiger is also slowing its pace of deal-making in India, though not in Flipkart and Ola, Mint reported on 3 December.

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