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Coatue Management , a hedge fund that invested to a great extent in tech startup during the pandemic - steep manna from heaven , is raising $ 1 billion to back AI - focused companies , Bloomberg reportedon Monday .
The backing , which will top up the firm ’s flagship store , will be raised primarily from institutional investor . However , high - net profit - worth individuals with accounting at the brokerage firm Raymond James & Associates could also invest in Coatue , per the written report .
Coatue , which has near $ 50 billion in plus under management , has enthrone in over 170 VC - plunk for companionship in 2021,according to PitchBook data . Coatue has since drastically slow up its startup investing pace , indorse only 81 company in 2022 and about 30 companies in 2023 .
The crosswalk investor is n’t done with investing in private companies , however . So far in 2024 , Coatue has backed 29 startups , PitchBook data shows . The firm ’s latest AI - focused investing includeGlean , Scale AI , and Skild AI , which is build a general - determination AI robot . Philippe Laffont , Coatue ’s founder ( image above ) has said he is particularly excited about humanoid automaton with AI - powered brains .
