Coatue Management, a hedge fund that invested closely in tech startups in the course of the pandemic-infused increase, is elevating $1 billion to again AI-focused corporations, Bloomberg reported on Monday.
The funding, which can prime up the agency’s flagship fund, might be raised primarily from institutional traders. However, high-net-worth people with accounts on the brokerage Raymond James and Associates might additionally spend money on Coatue, per the report.
Coatue, which has practically $50 billion in property underneath administration, has invested in over 170 VC-backed corporations in 2021, in accordance with PitchBook knowledge. Coatue has since drastically slowed its startup investing tempo, backing solely 81 corporations in 2022 and about 30 corporations in 2023.
The crossover investor isn’t completed with investing in non-public corporations, nonetheless. So far in 2024, Coatue has backed 29 startups, PitchBook knowledge reveals. The agency’s newest AI-focused investments embody Glean, Scale AI and Skild AI, which is constructing a general-purpose AI robotic. Philippe Laffont, Coatue’s founder (pictured above) has stated he’s significantly enthusiastic about humanoid robots with AI-powered brains.
