Coatue is elevating $1B for AI bets

Date:


Coatue Administration, a hedge fund that invested closely in tech startups throughout the pandemic-infused increase, is elevating $1 billion to again AI-focused corporations, Bloomberg reported on Monday.

The funding, which is able to prime up the agency’s flagship fund, will probably be raised primarily from institutional buyers. Nevertheless, high-net-worth people with accounts on the brokerage Raymond James and Associates may additionally spend money on Coatue, per the report.

Coatue, which has almost $50 billion in belongings underneath administration, has invested in over 170 VC-backed corporations in 2021, in line 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 carried out with investing in non-public corporations, nevertheless. To this point 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.



Supply hyperlink

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Popular

More like this

2:00PM Water Cooler 11/4/2024 | bare capitalism

By Lambert Strether of Corrente. Sure, I'll do...

Workplace Furnishings Units: Nice Picks From Amazon

Having an workplace, be it at your private...