# Coatue Management

> Source: https://aiwiki.ai/wiki/coatue_management
> Updated: 2026-06-28
> Categories: AI Companies, Venture Capital
> From AI Wiki (https://aiwiki.ai), a free encyclopedia of artificial intelligence. Quote with attribution.

Coatue Management is an American technology-focused investment firm founded in 1999 by [Philippe Laffont](/wiki/philippe_laffont), a former Tiger Management analyst and one of the "Tiger Cubs" who spun out of Julian Robertson's firm to launch their own funds.[1][2] Headquartered in New York, Coatue runs a technology, media and telecommunications hedge fund alongside a large suite of private venture and growth (crossover) funds, and by the mid-2020s had become one of the most active backers of artificial intelligence companies. It led or co-led rounds for [CoreWeave](/wiki/coreweave), [Anthropic](/wiki/anthropic) and the AI coding company [Anysphere](/wiki/anysphere), and holds stakes in [OpenAI](/wiki/openai), [xAI](/wiki/xai) and [Scale AI](/wiki/scale_ai).[3][5][6][12] Bloomberg described it as a roughly $70 billion manager in March 2026.[16]

## What is Coatue Management?

Coatue is a crossover investment manager, meaning it invests in both public and private companies out of related strategies. The public side is the technology, media and telecommunications hedge fund. The private side spans a series of venture and growth vehicles, including funds disclosed in regulatory filings such as Coatue Private Fund I (2013), the Coatue Early Stage Fund (2019) and Coatue Growth Fund IV (2020, around $3.5 billion).[1] The firm is headquartered in the Solow Building at 9 West 57th Street in New York, with additional offices in Menlo Park, London, Shanghai and Hong Kong.[1] The combination of a public book and large private positions in the same technology and AI names is what defines Coatue's strategy and distinguishes it from a pure hedge fund or a pure venture firm.

## Who founded Coatue Management?

[Philippe Laffont](/wiki/philippe_laffont) founded Coatue in 1999. Born in Belgium to a French family, Laffont graduated from the Massachusetts Institute of Technology in 1989 with a degree in computer science.[2] He worked as a management consultant at McKinsey and Company in the early 1990s before joining [Tiger Management](/wiki/tiger_management) in 1996, where he covered European telecommunications and technology stocks. Tiger, run by [Julian Robertson](/wiki/julian_robertson), produced more than two dozen prominent fund managers known collectively as the Tiger Cubs after Robertson wound down outside capital in 2000.[1] Laffont left in 1999 to start Coatue, which he named after a beach on Nantucket. The firm launched its first hedge fund that year with about $45 million in capital.[1]

Laffont's brother, [Thomas Laffont](/wiki/thomas_laffont), is a co-founder and leads the firm's private investing. Thomas came from a different background, having worked in the entertainment industry, and over time he built out Coatue's private-markets capabilities as the firm expanded beyond public equities into venture and growth investing. Philippe Laffont remains the founder, chief investment officer and portfolio manager. Forbes estimated his net worth at roughly $7.9 billion in 2026, ranking him among the several hundred wealthiest people in the world.[2]

## How much does Coatue Management manage?

Reported assets under management vary by source and by how the figure is measured. Hedgeweek put Coatue's firm-wide assets near $50 billion in late 2024, with the flagship hedge fund around $14 billion.[13] By early 2026 some outlets described it as a "$54 billion" manager, and in March 2026 Bloomberg referred to "Laffont's $70 billion Coatue."[16] Separately, the firm's regulatory 13F long book of US-listed equities climbed over the course of 2025, from roughly $23 billion early in the year to about $36 billion by mid-year and close to $41 billion by the third quarter, as Coatue rotated heavily into AI beneficiaries.[17] That public book has been concentrated in names such as [Nvidia](/wiki/nvidia), Taiwan Semiconductor, Microsoft, Meta Platforms, Amazon and Broadcom; Coatue trimmed several large positions, including selling roughly 15 percent of its Tesla stake, late in 2025.[19]

In May 2025 Coatue launched the Coatue Innovation Fund, branded CTEK, its first tender-offer fund aimed at individual investors and financial advisors. It launched with $1 billion in anchor commitments split between Bezos Expeditions, the family office of [Jeff Bezos](/wiki/jeff_bezos), and DFO Management, the family office of Michael Dell.[14][15] CTEK is a continuously offered, closed-end vehicle that allocates between 20 and 50 percent of assets to private holdings and the rest to public equities, with a $50,000 minimum (versus Coatue's traditional $5 million minimum) and quarterly tender offers for limited liquidity.[14] It later joined the iCapital and CAIS alternative-investment marketplaces in 2026. Around the same period Coatue raised capital for its flagship fund (reported by Hedgeweek as a roughly $1 billion target, its first such raise in several years) and, per Bloomberg, weighed launching a dedicated AI and technology fund.[13][16]

## What AI companies has Coatue backed?

Coatue's most visible AI bet is [generative AI](/wiki/generative_ai) infrastructure and the foundation-model labs. In May 2024 it led CoreWeave's $1.1 billion round (described by the company and reporters as a Series C-stage financing) at a $19 billion valuation, with participation from Magnetar, Altimeter, Fidelity and others; CoreWeave rents Nvidia GPUs for AI training and went public the following year.[5] In November 2025 Coatue co-led, alongside Accel, Anysphere's $2.3 billion Series D round at a $29.3 billion valuation; Anysphere makes the AI coding tool Cursor, which crossed $1 billion in annualized revenue that year.[6][7]

The firm's largest single AI commitment has been to [Anthropic](/wiki/anthropic). After signing a term sheet in January 2026 to anchor a round at a $350 billion valuation, Coatue and Singapore's sovereign wealth fund [GIC](/wiki/gic) led Anthropic's $30 billion Series G, which closed in February 2026 at a $380 billion post-money valuation, with D.E. Shaw Ventures, Dragoneer, Founders Fund, ICONIQ and MGX among the co-leads.[3][4] Anthropic's own announcement states: "We have raised $30 billion in Series G funding led by GIC and Coatue, valuing Anthropic at $380 billion post-money."[3] The company disclosed that its run-rate revenue had reached $14 billion at the time of the round, up from a $183 billion valuation at its prior Series F.[3]

Coatue is also a shareholder in [OpenAI](/wiki/openai), though it has taken part in those financings rather than leading them. It first invested in OpenAI's roughly $40 billion round of March 2025, which was led by SoftBank at a $300 billion valuation and also drew Microsoft, Altimeter and [Thrive Capital](/wiki/thrive_capital).[11] It again participated in OpenAI's subsequent mega-round in 2026. Coatue holds a stake in Elon Musk's [xAI](/wiki/xai) as well, which TechCrunch reported in May 2026, although the specific round of entry has not been disclosed.[12][20]

In data and applications, Coatue has backed [Scale AI](/wiki/scale_ai) since its 2019 Series C and participated in later rounds, including the $1 billion Series F of May 2024 (a $13.8 billion valuation, led by Accel) before Meta took a 49 percent stake in Scale in 2025.[10] Coatue also moved into vertical AI: it joined legal-AI company [Harvey](/wiki/harvey_ai) as a new investor in the February 2025 Series D at a $3 billion valuation, then co-led Harvey's $300 million Series E in June 2025 (a $5 billion valuation) with Kleiner Perkins, and kept participating as Harvey's valuation rose to $11 billion by March 2026.[8][9] The table below summarizes the principal AI positions and Coatue's role in each.

| Company | Round and year | Coatue's role |
| --- | --- | --- |
| [CoreWeave](/wiki/coreweave) | $1.1B round, May 2024 ($19B valuation) | Lead |
| [Anthropic](/wiki/anthropic) | Series G, $30B, Feb 2026 ($380B post-money) | Co-lead, with [GIC](/wiki/gic) |
| [Anysphere](/wiki/anysphere) (Cursor) | Series D, $2.3B, Nov 2025 ($29.3B valuation) | Co-lead, with Accel |
| [Harvey](/wiki/harvey_ai) | Series E, $300M, June 2025 ($5B); Series D, Feb 2025 ($3B) | Co-lead of Series E, with Kleiner Perkins; investor in Series D |
| [OpenAI](/wiki/openai) | ~$40B round, March 2025 ($300B); 2026 mega-round | Participant |
| [xAI](/wiki/xai) | Stake held, round not disclosed | Investor |
| [Scale AI](/wiki/scale_ai) | Series C 2019 onward; Series F, May 2024 ($13.8B) | Early backer and participant |

## How is Coatue investing in AI data centers?

Coatue's AI thesis extends into physical infrastructure. In May 2026 it launched a venture called Next Frontier to acquire land near large power sources and convert the parcels into data center sites.[12] Next Frontier formed a joint venture with [Fluidstack](/wiki/fluidstack), a cloud-infrastructure company that had separately signed a roughly $50 billion deal to build data centers for [Anthropic](/wiki/anthropic).[12] One of the venture's first projects is a 430 MW data center campus in Indiana, financed through about $5.7 billion of senior secured notes issued by a joint venture of Fluidstack Indiana Inc. and a Next Frontier affiliate, with Anthropic named among the targeted AI customers. TechCrunch reported that Coatue holds stakes across the AI compute stack, including in Anthropic, OpenAI, xAI and the data center operators DayOne and CoreWeave; Coatue declined to comment on the specifics of the venture.[12]

## What does Philippe Laffont say about AI markets?

Laffont is a frequent commentator on AI markets and co-hosts Coatue's annual East Meets West (EMW) conference with his brother. In Coatue's 2025 EMW keynote the firm framed "What are you going to do in the face of AI?" as the central question for chief executives, and presented an unusually bullish view of what it called the AI supercycle, arguing that each technology wave (mainframes, personal computers, the internet, software as a service) builds on the last and produces progressively larger winners.[18] Coatue named [Nvidia](/wiki/nvidia), Broadcom, Oracle and OpenAI among the companies leading the build-out, and floated a "Fantastic 40" framing as a successor to the Magnificent Seven, predicting a wider set of dominant companies by 2030.[18] Laffont and his team have also argued that a new class of large private technology firms is growing faster than most public companies, a thesis that underpins Coatue's crossover structure and the CTEK fund.

## How does Coatue fit into the Tiger Cub lineage?

Coatue is one of the best-known of the Tiger Cub funds, the group of managers who trained under [Julian Robertson](/wiki/julian_robertson) at [Tiger Management](/wiki/tiger_management) before founding their own firms. That lineage includes Chase Coleman's [Tiger Global Management](/wiki/tiger_global_management), Stephen Mandel's Lone Pine Capital and Andreas Halvorsen's Viking Global, among more than 200 funds traced back to Tiger.[1] Like Tiger Global, Coatue pushed aggressively from public-equity hedge funds into late-stage private technology investing during the 2010s, which positioned it to write large checks into the AI companies that emerged later.

Within Coatue, the Laffont brothers remain the defining figures: Philippe on the public and overall investment strategy, and Thomas on private investing. The firm has also become a training ground in its own right. In March 2026 TechCrunch reported that a former Coatue partner raised a $65 million seed round for an enterprise [AI agents](/wiki/ai_agents) startup, one example of alumni leaving to build or fund AI companies. Coatue's broader portfolio over the years has spanned consumer and internet names such as [ByteDance](/wiki/bytedance), Spotify, Snap and DoorDash, but its 2024 to 2026 activity has centered firmly on artificial intelligence, both in its public book and across its venture and growth funds.

## References

1. "Coatue Management." Wikipedia, accessed 2026-06-08. https://en.wikipedia.org/wiki/Coatue_Management
2. "Philippe Laffont." Wikipedia, accessed 2026-06-08. https://en.wikipedia.org/wiki/Philippe_Laffont
3. "Anthropic raises $30 billion in Series G funding at $380 billion post-money valuation." Anthropic, 2026-02-12. https://www.anthropic.com/news/anthropic-raises-30-billion-series-g-funding-380-billion-post-money-valuation
4. "GIC Leads $30 Billion Series G in Anthropic." GIC, 2026-02-12. https://www.gic.com.sg/newsroom/all/gic-leads-30-billion-series-g-in-anthropic/
5. "AI Cloud Infrastructure Startup CoreWeave Raises Huge New Round At Reported $19B Valuation." Crunchbase News, 2024-05-01. https://news.crunchbase.com/cloud/ai-startup-coreweave-raises-valuation/
6. "AI startup Cursor raises $2.3 billion funding round at $29.3 billion valuation." CNBC, 2025-11-13. https://www.cnbc.com/2025/11/13/cursor-ai-startup-funding-round-valuation.html
7. "Coatue Joins $2.3 Billion Bet on Hot AI Coding Platform." Institutional Investor, 2025-11. https://www.institutionalinvestor.com/article/coatue-joins-23-billion-bet-hot-ai-coding-platform
8. "Harvey Raises $300M Series E Co-led by Kleiner Perkins and Coatue." Harvey, 2025-06. https://www.harvey.ai/blog/harvey-raises-series-e
9. "Legal AI startup Harvey valued at $11 billion in funding round." CNBC, 2026-03-25. https://www.cnbc.com/2026/03/25/legal-ai-startup-harvey-raises-200-million-at-11-billion-valuation.html
10. "Scale's Series F: Expanding the Data Foundry for AI." Scale AI, 2024-05-21. https://scale.com/blog/scale-ai-series-f
11. "OpenAI raises $122 billion to accelerate the next phase of AI." OpenAI, 2026. https://openai.com/index/accelerating-the-next-phase-ai/
12. "Coatue has a plan to buy up land for data centers, possibly for Anthropic." TechCrunch, 2026-05-01. https://techcrunch.com/2026/05/01/coatue-has-a-plan-to-buy-up-land-for-data-centers-possibly-for-anthropic/
13. "Coatue targets $1bn to up flagship fund AI and tech innovation bets." Hedgeweek, 2024-11-05. https://www.hedgeweek.com/coatue-targets-1bn-to-up-flagship-fund-ai-and-tech-innovation-bets/
14. "Expanding Access to Innovation: Introducing the Coatue Innovation Fund (CTEK)." Coatue, 2025-05. https://www.coatue.com/ctek/blog/press/expanding-access-to-innovation-introducing-ctek
15. "Jeff Bezos' and Michael Dell's family offices commit $1B in total to Coatue's newly launched fund." Wall Street Journal via Techmeme, 2025-05-07. https://www.techmeme.com/250507/p3
16. "Laffont's $70 Billion Coatue Looks to Launch New AI, Tech Fund." Bloomberg, 2026-03-20. https://www.bloomberg.com/news/articles/2026-03-20/laffont-s-70-billion-coatue-looks-to-launch-new-ai-tech-fund
17. "Tracking Philippe Laffont's ~$36B Coatue Management Portfolio, Q2 2025 Update." Seeking Alpha, 2025. https://seekingalpha.com/article/4826483-tracking-philippe-laffonts-36b-coatue-management-portfolio-q2-2025-update
18. "Ignore AI Sentiment and Mag 7: These 8 Stocks Will Be The Big Winners (2025 East Meets West, Coatue/Laffont)." Hedge Fund Alpha, 2025. https://hedgefundalpha.com/conferences/2025-east-meets-west-coatue-laffont/
19. "Billionaire Philippe Laffont Just Sold 15% of Coatue's Tesla Stake." The Motley Fool, 2025-11-20. https://www.fool.com/investing/2025/11/20/billionaire-philippe-laffont-sold-tesla-ai-stock/
20. "xAI raises $6B Series C." xAI, 2024-12-23. https://x.ai/news/series-c