Coatue Management Research
Investment Thesis
Coatue Management is a lifecycle investment platform uniquely positioned across both public and private markets, founded in 1999 by Philippe Laffont with co-founder Thomas Laffont. The firm believes that the best investment opportunities emerge at the intersection of innovation and scale, investing from seed stage through public markets. Coatue's core thesis centers on identifying and supporting technology companies that will transform sectors globally, with particular conviction in AI-enabled platforms and infrastructure.
Firm Overview
Founded in 1999 with $45 million raised from Tiger Management after Philippe Laffont's three-year tenure at Tiger, Coatue has evolved into one of the world's largest technology-focused investment platforms. The firm operates a multi-strategy approach spanning venture, growth, public equities, and their proprietary CTEK (Coatue Innovation Fund) which invests across both public and private markets with responsible risk management.
Assets Under Management: Approximately $70 billion (as of Q3 2025) Employees: 168+ (38% investors) Headquarter Location: New York, NY (Solow Building, 9 West 57th Street) Additional Offices: Menlo Park, San Francisco, Hong Kong, London
Investment Strategies
1. Privates (Venture & Growth)
- Venture: Early-stage investments leveraging network to identify major trends
- Growth: Late-stage companies, identifying potential disruptors and next-gen platform companies
- Tactical: Creative debt and equity capital solutions for companies' specific needs
2. Public Markets
- Decades of experience in public equities with company and market knowledge
- Strong risk management practices
- Active in traditional public market investing
3. CTEK (Coatue Innovation Fund)
- AI-native investment platform investing across public and private markets
- Responsible risk management approach
- Minimum investment: $50,000
- As of December 31, 2025, net inflows of approximately $355M
Stage Focus & Check Sizes
Coatue invests across the full spectrum from pre-seed through public markets. Recent activity shows lead and co-lead positions in major funding rounds including:
- Decagon Series D (January 2026)
- Anthropic major funding round (January 2026)
- Revolut (November 2025)
- AI Coding Platform Series D (November 2025)
Portfolio Composition
Scale & Composition:
- 312 portfolio companies (as of February 2026)
- 584 total investments made
- Portfolio includes unicorns and later-stage companies
Major Portfolio Companies:
- AI & Machine Learning: OpenAI, Databricks, Scale AI, Harvey AI, Runway ML
- Infrastructure & Developer Tools: ClickHouse, Supabase, Grafana, Rippling
- Consumer & Platform: DoorDash, Uber, Instacart, Snapchat, Spotify
- Enterprise Software: Figma, Notion, Glean, Canva, Mercury, Ramp
- Fintech: BitSo, Alan, BharatPE
- Space & Advanced Tech: SpaceX
Team & Leadership
Founders:
- Philippe Laffont: Founder & Portfolio Manager - Former McKinsey analyst and Tiger Management portfolio manager. Founded Coatue in 1999 with strong conviction in technology trends and AI.
- Thomas Laffont: Co-Founder - Leads Coatue's private equity investing as Chief Investment Officer of Privates. Responsible for launching and growing venture/growth business.
Investment Team: 168+ total employees with 38% in investment roles, indicating substantial professional investment team
Investment Approach
Philosophy:
- Lifecycle investment approach spanning seed through public markets
- Network-driven deal sourcing identifying major trends early
- Responsible risk management across all strategies
- Multi-strategy portfolio balancing venture upside with public market stability
Decision Process: Partnership/committee-based with rapid decision cycles evident from portfolio velocity. Leads and co-leads major rounds with tier-one co-investors.
Typical Involvement: Board seats, advisory roles, and passive investor positions depending on round size and strategic fit.
Sector & Tech Preferences
Sector Focus (10 canonical sectors):
- Consumer Apps & Social
- E-commerce & Marketplaces
- Media & Entertainment
- Gaming
- Enterprise Software
- Developer Tools & Infrastructure
- HR Tech & Work
- Fintech & Payments
- Healthcare & Digital Health
- Logistics & Supply Chain
Tech Preferences:
- Strong AI/ML conviction across infrastructure and applications
- LLM applications and agentic AI
- Cloud/Infrastructure and observability tools
- Developer experience products
- Digital advertising transformation via AI
Market Position
Coatue ranks among the world's largest technology-focused investment firms with:
- 26+ years track record (founded 1999)
- $70B+ AUM
- Expertise across public and private markets
- Rigorous data-driven investment approach
- Strong reputation for trend identification and early positioning
Recent Activity & Momentum
Fund Status: Actively deploying with recent net inflows of $355M (Q1 2026) Recent Investments: Continuous deployment across CTEK, private equity, and growth strategies with major positions in AI companies and infrastructure Forward Outlook: Bullish on AI transformation, projecting AI companies will reach $1.9T in revenues within 5-10 years