Coatue is considering launching a new AI and Tech Fund
BlockBeats News, March 21st. According to Bloomberg, investment institution Coatue Management, managed by Philippe Laffont with assets under management of $70 billion, is preparing to launch a new fund focused on investing in both public and private artificial intelligence and tech innovation companies. This move indicates that as more and more startups delay going public, the institution is re-evaluating its traditional "long-only" investment strategy.
According to sources familiar with the matter, the fund will adopt a "long-bias cross-market" strategy, investing in both publicly traded companies and later-stage growth startups, while also having the flexibility to sell positions and hold cash when necessary. In contrast, traditional long-only funds usually need to remain almost fully invested.
The sources also stated that the firm is closing its existing $8 billion long-only fund to new capital and will direct interested investors to this new fund. Due to the sensitive nature of the information, the sources requested anonymity. The new fund is expected to allocate about 20% of its capital to private companies and could launch as early as mid-year. A company spokesperson declined to comment on this.
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