Coatue Seeks $1 Billion for Its Flagship Fund to Wager on AI
- Firm’s founder Philippe Laffont has championed the technology
- Capital raise will come mostly from institutional investors
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Coatue Management is looking to raise $1 billion to amplify bets on artificial intelligence and tech innovation, marking the first time in several years it has sought cash for the flagship fund.
The tech-focused hedge fund firm will raise most of the capital from institutional investors, with a smaller amount coming from wealthy individuals through a new arrangement with Raymond James and Associates, according to people familiar with the matter.