Tiger Global Management, the hedge fund firm founded by Chase Coleman, has rejected hundreds of bids for its private company stakes in recent months, because the offers received were deemed to be too low, according to a report by The Economic Times.

The report cites unnamed sources as revealing that with limited opportunities for initial public offerings, the firm wanted to sell hundreds of millions of dollars in stakes in mid- and late-stage startups to provide cash distributions to investors in some of its older funds. 

Some assets though, were purchased when valuations were significantly higher, meaning that many of the offers received fell below an acceptable level. And with most of Tiger Global’s private investments being held by its venture funds, which are long-term vehicles, the company opted to delay selling.

Tiger Global's assets fell by about half last year, partly due to many of its venture investments being marked down, although the hedge fund has rebounded this year with a 15.5% gain as of the end of May.