Coatue Administration, a hedge fund that invested closely in tech startups throughout the pandemic-infused growth, is elevating $1 billion to again AI-focused firms, Bloomberg reported on Monday.
The funding, which is able to high up the agency’s flagship fund, can be raised primarily from institutional buyers. Nevertheless, 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 belongings below administration, has invested in over 170 VC-backed firms in 2021, in accordance with PitchBook information. Coatue has since drastically slowed its startup investing tempo, backing solely 81 firms in 2022 and about 30 firms in 2023.
The crossover investor isn’t carried out with investing in non-public firms, nevertheless. To this point in 2024, Coatue has backed 29 startups, PitchBook information reveals. The agency’s newest AI-focused investments embrace Glean, Scale AI and Skild AI, which is constructing a general-purpose AI robotic. Philippe Laffont, Coatue’s founder (pictured above) has mentioned he’s significantly enthusiastic about humanoid robots with AI-powered brains.
