The source recalled that it was the type of deal in which terms escalated rapidly, with a $200 million valuation skyrocketing to $800 million in a matter of days., Coatue was intent on not missing out again. Select a company name to explore and learn more about other companies across the industry and to compare average salaries with those at Coatue. One source said, "He remembers every number that you give him, even if you gave it to him five years ago. Perhaps the best way to understand Coatue's hierarchy, then, is through a matrixed approach. She was related to Carmen Dez de Rivera, a key figure in Spain's transition from Franco's dictatorship toward a modern parliamentary system., After two years, Philippe's time at McKinsey came to a close. Though the Laffonts' firm deploys aggressively, it does seem to be pickier. For the most part, Coatue evaluates companies in-house. We'll specifically focus on Coatue's private market work, walking through how the firm sources, evaluates, wins, and supports deals. Coatue has already taken significant positions in Tesla and Rivian., The fourth vehicle, named the "Opportunity Fund" is exclusively geared to the public markets and was raised during the brief stock market collapse in March of 2020. It's interesting to compare this integrated approach with Tiger's outsourced model. Join 55,000 others today to make sure you don't miss our next briefing. His brother Thomas chairs these vehicles and works out of the Bay Area office of Coatue Management. The same is true of junior investors, with most receiving low six-figure base salaries. Connect with intelligence. He would spend the next three-and-a-half years under Robertson's tutelage, learning the trade and focusing on technology and telecom. With a large enough data set, Mosaic could effectively create a list of prospects for a given startup, prioritized by the amount each was spending on a competitive product., The final core piece of Mosaic is its benchmarking capabilities. Annabelle King Research Coordinator at Coatue Management New York City Metropolitan Area 397 followers 392 connections Join to connect Coatue Management Colgate University This page. Phone: (1)2127155100 Fax: (1)2123711297. Since 2013, the venture team has moved beyond consumer internet and into fintech, enterprise software, healthcare, and crypto. the consumer and healthcare sectors. One former investor compared Coatue's preference for atomizing its vehicles with Tiger's more unified strategy, remarking, "Tiger's approach is smarter.". While the source that relayed this story noted that they weren't certain whether it was true, that it seemed plausible to them is an indication that the elder Laffont brother is not always in control of his emotions., He also seems somewhat inscrutable, with a venture capitalist describing him as "an odd duck." Pros. Coatue Company Overview WebSite: coatue.com Headquarters: NEW YORK, NY Size: 100 - 200 Founded: 1999 Type: Investment Company Revenue: $10M - $50M Industry: Business Services Related Companies: Coatue provides investment management services for technology, media and telecommunication services. Thomas sits on the board of Tipping Point Community, . Coatue pays an average salary of $185,991 and salaries range from a low of $162,014 to a high of $213,341. Login You might have heard of a company called Headspin. This is a firm that moves quickly and jumps on opportunities. the consumer and healthcare sectors. Anecdotally, this is below the hurdle traditional growth firms set, but maybe more in line with other crossover funds. However, as public market competitor Bill.com grew its value, he reversed his decision, making a significant investment in Melio. Sebastian Duesterhoeft and Lucas Swisher arrived from Silver Lake and Kleiner Perkins, respectively. In the mid-90s, companies like Microsoft appreciated significantly, giving the Laffonts confidence in their abilities. It didn't take long for Coatue to set its sights higher., A former investor with knowledge of this era mentioned that Coatue identified a few high-priority companies to target. They knew they had "no chance" of getting Thomas to agree to a deal., Though he may cast a smaller shadow, Daniel Senft is a vital player at the firm. [6] Coatue manages this fund in addition to others. This insight is extremely relevant for competitive startups like InVision or Figma. At the time, the markets valued WeChat's owner at less than $1 billion; today, it sits around $590 billion. Not all of its experiments have succeededa high-profile internal investment in a new quant strategy flamed out spectacularly. Our bespoke approach to structured capital allows us to provide companies and founders with tactical solutions that are tailored to their unique financing needs, even in challenging markets. Leadership is represented along the various axes, with key individuals shown in relevant cells:, Of course, this is far from complete. Coatue is part of a larger wildlife refuge system that includes 104 acres at The Haulover, which is also owned by the Foundation, 916 acres of the Coskata-Coatue Wildlife Refuge, owned by the Trustees of Reservations, and the 42 acre Nantucket National Wildlife Refuge at Great Point, owned by the U.S. The top 10% of employees earn more than $185k per year. He can analyze and recall large data sets with eerie skill. Coatue has also experimented beyond these primary categories. Coatue Management, LLC a Portfolio Activity as reported in the most recent 13F form published on Dec 31, 2022 9,601 Followers See the Top Performing Hedge-Funds > Philippe Laffont Coatue Management, LLC Hedge Fund Manager Ranked #128 out of 483 Hedge Fund Managers Portfolio Gain +159.19% Since Jun 2013 Sharpe Ratio 1.93 Nothing significant is built without sweat, and the best teams tend to be extraordinarily hard working. "It's bespoke to each company," one source said. The new initiative was led by Thomas Laffont and Daniel Senft, a talented stock picker and long-time lieutenant., Without a strong brand in Silicon Valley, Coatue found unusual ways to break into the ecosystem. The former VP of Partnerships at Facebook, Rose was a long-time golf buddy of Thomas's and had stayed close to the team for years. The purchase prices were between $125.2 and $162.72, with an estimated average price of $145.33. The average salary of Coatue is $185,991 in the United States. Despite the firm's flaws, it has done a stellar job reinventing and renovating itself to accommodate new dynamics. Oops! First, Coatue tried to win Snap's Series B but was beaten out by Insight Venture Partners. While Coatue has, of course, changed its position sizing, it nevertheless represented a massive win., Another critical bet was Apple. Though commentary on this group was much more limited, the firm's private market team seems to be primarily well-received, especially by external parties., One portfolio founder singled out Matt Mazzeo for particular praise, noting his positive contributions to the business. Across the sources I spoke with, Mosaic seems to be impressive but not that important. Reports suggested that Izydorczyk was a harsh leader with brutal expectations. Ride-hailing business Didi was considered a "very important investment." (H.K. Each one's character is, in some respect, reflected in the organization they have built., That is most true of Coatue's founder, Philippe Laffont. [12], Some of Coatue's notable investments include the following:[14], Last edited on 18 November 2022, at 20:07, "The Hedge Fund Manager Who Became A Billionaire From Tech", "Hedge fund Coatue raises more than $500 mln for second PE fund", "Scoop: Coatue raising $500 million for early-stage fund", "Coatue Raises $1.3 Billion for New Private Equity Fund", "Laffont's Coatue Invest Launches Long-Only Fund", "In Ambitious Gamble, Hedge Fund Coatue Launches $700 Million Early-Stage Venture Fund", "Cobalt Robotics raises $35 million for security robots that patrol offices, warehouses, and parking lots", https://en.wikipedia.org/w/index.php?title=Coatue_Management&oldid=1122652489, This page was last edited on 18 November 2022, at 20:07. Coatue made 58 investments in 2020, a figure that jumped to 165 in 2021. Some leaders manage sectoral areas while others govern a particular asset class practice., For example, Michael Gilroy and Rahul Kishore were identified as key leaders of the firm's fintech practicea sectoral focuswhile Dan Rose was pointed out as the manager of the venture asset class. Investors further down the pecking order may have to adhere to a similar process. If you only have a couple of minutes to spare, here's what investors, operators, and founders should know about Coatue. ", That soon became something of a calling card for Coatue. Cultural unrest has not stopped the firm from becoming a global standout. Not long before Tiger Management closed its doors, Laffont decided it was time to go solo. Create job alert. Currently working as Research Coordinator at Coatue Management in New york, United States. By purchasing alternative data sets, including expense account data, Coatue could piece together customer lists, a feature that was particularly useful for enterprise businesses., For example, Mosaic might parse expense data from a company like Salesforce. Coatue Management LLC is a global investment manager focused on public and private companies in the technology, media and telecommunications industries. Former rising star and data wunderkind Alex Izydorczyk is parting ways with Coatue Management, the $48 billion hedge fund where he's led data science since 2016, according to sources familiar. Philippe's early picks included Microsoft, Intel, and Dell. "Largeness" and "greatness" sound like synonyms, but each captures some meaning the other misses. Coatue invests in both private and public companies from these three SPVs. Something went wrong while submitting the form. Cameron Friscia's Married Life with Katherine Clare Timpf. , In researching Coatue, one issue appeared too many times to ignore: its aggressive internal culture. Though the last two years have halted festivities, one source noted that they expected its return in one form or another. It seemed to give the firm the firepower to keep expanding its efforts.. Our core technology-driven strategies include: We established our public equity strategy with the firm's launch in 1999. Coatue Management Contact Info Address. With a much larger staff and more powerful instrumentation than a traditional venture firm, Coatue shone in this area. Work. Recent iterations have centered on bringing leading executives together from around the world., How valuable is the event? Date Closed Lead Office. Those photos were included in a pitch filled with insights on the space. The holding were 1,889,195 shares as of 2021-12-31. While Shleifer snagged several of China's "Yahoos," Coatue made the bigger splash. In 2014, a young Wharton student, Alexander Izydorczyk, interned at the firm. What started as a hedge fund focused on public consumer technologies has gradually grown to include growth and early-stage funds. The megafund might look like Tiger Global, but it's operating a very different playbook. ", It is still relatively early days. This adventurousness is perhaps the defining characteristic of Coatue's last five years. Indeed, he may be Coatue's best stock picker. "I was so direct with what I wanted," he added., Philippe made a strong enough impression in those 120 seconds for Robertson to introduce him to his technology team. [3] The Coatue team also demonstrated the rigor with which they had studied the social media space, particularly the Chinese market. 39 (as of 11 May 21) Employees. It can look at a SaaS platform with $20 million in annual recurring revenue, for example, and see what top decile net retention looks like. Be the first to find this review helpful. Instead, we might see it create something equivalent to a suite of thematic-ETFs, spanning private and public markets. "I went straight to the point," Philippe recalled, telling Robertson that he wanted a job picking technology stocks for Tiger. In December of 2013, Coatue secured the chance to invest $50 million into Snap at a multibillion-dollar valuation. Signatory General Meeting (SGM) Signatory rights. Size usually comes at the expense of agility. The engineering department also pays well, with an average salary of $135,942 per year. (They might have been thinking of a $355 million growth fund raised in 2015). Talking about Cameron Friscia's relationship status, he is a married man. Responsible for hiring, inventory, marketing, and management of two busy retail operations In that respect, Laffont's construction resembles the companies in which it invests more than many of its rivals. Coatue invests in public and private markets with a focus on technology, media, telecommunications. By and large, however, the firm seems to have allowed an aggressive, intensive culture to flourish., Perhaps this is by design. The firm could accumulate stakes in a business that might not IPO for years by moving earlier. Any representations to the contrary and any websites other than www.coatue.com are not endorsed by Coatue. The firm has too many employees to represent here. A lawyer by training, Ana came from an influential family in the country. As we'll discuss later, Izydorczyk's approach appears to be representative of a firm with a frequently corrosive culture., One interesting side effect of Coatue's different standalone funds is that each vehicle has a standalone "scorecard." Board committees. Founder Philippe Laffont sits at the top and is the firm's ultimate decision-maker and portfolio manager. In 1999, Coatue opened with just $15 million in assets under management (AUM). Our focus is on disciplined, long-term investing across the most exciting mega-trends in technology. Dirigeants cls. With the fund manager's time limited, most pitches need to be given in a minute or so. While investors might focus on particular stages more than others, there is considerable fluidity with hedge fund analysts contributing to early-stage venture deals and visa-versa. A source pointed to the firm's work with CommonStock, a social network for investors, as an example. Coatue's founder, Philippe Laffont, is a '89 MIT grad (MS in Computer Science) who has summered on Nantucket for 30 years. Equally, Philippe knows when to pull back, running a more cautious strategy during some of 2021's most volatile months. ", After spending more than thirteen years at the firm, Senft also seems to have developed a talent for communicating with Philippe. 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