Coatue Management, a hedge fund that invested heavily in technology startups during the pandemic, has raised $1 billion to support AI-focused companies, Bloomberg reported Monday.
Funds to fill the company’s flagship fund will be primarily raised from institutional investors. However, high net worth individuals who hold accounts with brokerage firm Raymond James and Associates can also invest in Coatue, according to the report.
Coatue, which has nearly $50 billion in assets under management, invested in more than 170 VC-backed companies in 2021, according to PitchBook data. Since then, Coatue has significantly slowed down its startup investment pace, supporting only 81 companies in 2022 and about 30 companies in 2023.
But crossover investors don’t end with investing in private companies. So far in 2024, Coatue has backed 29 startups, according to PitchBook data. The company’s recent AI-focused investments include Glean, Scale AI, and Skild AI, which build general-purpose AI robots. Coatue founder Philippe Laffont (pictured above) said he was particularly interested in humanoid robots with AI-based brains.
