Investment firm Tiger Global Management has quietly backed PopUp Bagels, reportedly taking the viral NYC chain’s valuation to a five-fold surge in just five months.

The late-March investment values the chain at $300 million, according to a Bloomberg report published on Friday.

Pop Up Bagels and Tiger Global did not immediately respond to Benzinga‘s requests for comment.

Tiger Global’s Selective Comeback

Tiger Global made its name backing high-growth technology companies such as Meta Platforms Inc (NASDAQ:META). After pulling back from aggressive venture bets following the 2022 tech downturn that saw its portfolio drop over 50%, the firm has now adopted a more selective investment approach.

The firm is streamlining its portfolio, having exited more than 85 companies from its most recent fund to redeploy capital and concentrate on a smaller set of high-conviction investments, including OpenAI and Waymo, while shifting toward smaller, later-stage dealmaking.

The investment in PopUp Bagels also underscores surging investor appetite for buzzy, high-growth dining concepts.

The Rise of A Viral Bagel Brand

Founded in 2020 by Adam Goldberg, PopUp Bagels began as a pandemic-era home kitchen experiment in Connecticut before rapidly gaining traction through social media. Its signature "grip, rip and dip" format—serving unsliced bagels designed to be torn and paired with spreads—has helped it build a cult following that includes celebrities and famous athletes.

New York City-based investment firm Stripes acquired a majority stake in PopUp Bagels in 2023, and media reports indicate the chain is valued at over $60 million, as it plans to open 300 locations across the U.S. in the next four years.

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