Midas List investor John Curtius quits Tiger Global amid the company's ongoing startup slump

John Curtius is leaving Tiger Global as the prolific investment firm continues to trim its stakes in private technology companies.

The Midas List investor is leaving Tiger Global in an ongoing transition, the company told investors Monday in a quarterly letter obtained by Forbes. Curtius "will work closely with the other members of the investment team over the coming months as we hand over his responsibilities," the company wrote. "We are grateful for all of his contributions to Tiger Global and appreciated his work ethic and intelligence."

The letter made no mention of Curtius' plans after Tiger. But Curtius plans to launch his own company called Cedar Investment Management when he leaves for good in June 2023, a source with knowledge of his thinking told Forbes.

The move comes as Tiger Global's multi-billion state funds continued to post losses in the third quarter, the company's letter said, in part due to long-term positions in China-based companies. The company said its large private portfolio of venture capital-backed startups was also down as Tiger lowered the valuations of its holdings every month of 2022.

Tiger Global declined to comment through a spokesperson. Curtius declined to comment.

In a letter devoted mainly to mourning