Tiger Global Management is at it again. Although it has not been announced yet, according to Fortune who spoke to sources close to the company, Tiger Global management has begun preparations to raise funds for another private equity VC fund. This will be the PE giant’s eighth private equity vehicle over the last 12 months.

Chase Coleman Tiger Global

Sources interviewed by Fortune say the fund will be focused on providing capital for later-stage, privately-held technology companies, and is expected to raise around $1.5 billion. A Tiger spokesperson cited SEC regulations in declining to comment on the possibility of raising capital for new funds.

Tiger Global background

Tiger Global Management has been very active in the technology sector of the private equity markets over the last few years. Tiger Global Management was founded in 2001. Tiger Global was one of the original “Tiger Cubs” who once worked under or received funding for their individual hedge fund from Julian Robertson, the investment guru and the founder of Tiger Management. Tiger Global management produced an annualized return of 21% from 2001 to 2012. The seven funds under Tiger Global’s umbrella currently hold around six billion worth in assets. Total assets under management will surge to over $7.5 billion if/when the rumored eighth fund becomes a reality.

Tiger Global catapulted to global prominence with the Facebook Inc (NASDAQ:FB) IPO, when news broke he had acquired more than four million Facebook shares prior to their May 2012 initial public offering. Tiger Global also has also made high-profile investments in LinkedIn Corp (NYSE:LNKD), Harry’s, Warby Parker, Glassdoor, Redfin and SurveyMonkey.

Other Tiger Global news

In related news for Tiger Global, the tech VC specialist firm has hired Jason Tan as a new managing director who will work out of Hong Kong. He had previously been employed as director of China activities for private equity firm TA Associates, and was employed at Summit Partners prior to that.