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Venture Capital · Profile from Venture Capital Research Companion

Coatue Management

Philippe Laffont's technology "Tiger cub" hedge fund that built a parallel private-investment business, from a single $50m Snapchat cheque in 2013 to multi-billion-dollar growth funds, applying data-heavy public-market analysis to private companies, overreaching in 2021, and then reorienting around AI infrastructure and wealth-channel products.

At a glance

Founded
1999, New York City
Founders
Philippe Laffont (founder; former Tiger Management analyst); brother Thomas Laffont joined later and co-leads the private business (title "co-founder" used by the firm)
Headquarters
New York City; offices in Menlo Park/San Francisco and, historically, Hong Kong
Ownership / structure
Private; SEC-registered investment adviser running public long/short and long-only funds, private growth funds, early-stage funds, structured/credit vehicles and a registered tender-offer fund (CTEK) for individuals
Leadership (2026)
Philippe Laffont (founder and portfolio manager); Thomas Laffont (co-founder, senior portfolio manager, private investments); Dan Rose (ex-Facebook VP of partnerships; Coatue Ventures chairman since 2020, verify current title); other private partners include Lucas Swisher (verify)
AUM / capital raised
~$45m at launch (reported); peak ~$70bn+ (Q1 2022, reported); ~$40–60bn range in 2025–2026 (verify). Growth Fund V ~$7.7bn (2021) and companion Fund 5-B ~$1.4bn (2023)
Stage focus
Mainly late-stage growth and pre-IPO; smaller early-stage programme (Seed–Series B) since ~2020; structured equity; public equities
Signature investments
Snap, Lyft, DoorDash, Gong, Notion, Replit, Rippling, Hinge Health, CoreWeave, Hugging Face (participant, reported); misses and disappointments: 2021-vintage growth marks (Growth Fund V ~30% paper loss reported in 2023), Dapper Labs and other 2021 consumer/crypto bets

9 deals and moves analysed

Each one gets a full strategy file in the companion: context, the decision, the financing, what happened, and the lesson.

  1. 2013

    Snapchat

    Series C

  2. 2014

    Lyft

    Series D

  3. 2018

    DoorDash

    Growth Round

  4. 2020

    Gong

    Series D

  5. 2021

    Dapper Labs

    Growth Rounds

  6. 2021

    Notion

    Growth Round

  7. 2021

    Replit

    Series B

  8. 2024

    CoreWeave

    Series C

  9. 2024

    Rippling

    Series F