Coatue Management, known for its significant investments in tech startups during the pandemic boom, is now raising $1 billion to support companies developing AI technologies, according to Bloomberg. The fresh capital is expected to bolster Coatue’s primary fund, with most coming from institutional investors. However, high-net-worth individuals affiliated with Raymond James and Associates may also have an opportunity to participate.
With nearly $50 billion in assets under management, Coatue was highly active in 2021, investing in over 170 venture-backed startups, as tracked by PitchBook. Since then, it has scaled back its investment pace, backing only 81 startups in 2022 and around 30 in 2023. This year, however, the firm has supported 29 private companies so far, focusing on emerging AI innovators such as Glean, Scale AI, and Skild AI, a startup developing general-purpose AI robots.
Philippe Laffont, Coatue’s founder, has publicly expressed his enthusiasm for humanoid robots powered by AI, suggesting that Coatue’s recent fundraising and investment activity underscores its growing focus on advancing AI technology and robotics.
