The impact to a portfolio due to this purchase was 1.32%. Not long before Tiger Management closed its doors, Laffont decided it was time to go solo. This structure might partially explain some of Coatue's losses over the years:. Financial Controller at Coatue Management. . Farallon Capital Management, too, added 2,197,000 shares of Alibaba during the quarter, and the valuation of its holdings stands at over $234 million, according to the filing. Coatue's founder, Philippe Laffont, is a '89 MIT grad (MS in Computer Science) who has summered on Nantucket for 30 years. ", After spending more than thirteen years at the firm, Senft also seems to have developed a talent for communicating with Philippe. "Coatue can have some vengeance," a former employee said., Such issues may not matter, at least when it comes to returns. According to one source I spoke to, Coatue is likely managing between $70 billion and $90 billion today. Already, we've seen the firm spin up SPVs for focus areas like fintech and climate. What are some typical titles and locations for Coatue jobs? Doing so allowed several colleagues to reach billionaire status, keeping them from spinning out. One of the sharpest moves Chase Coleman has made is sharing the upside with the broader partnership. All those who shared their experiences a group that included former employees, co-investors, and portfolio founders asked to remain anonymous. The firm has too many employees to represent here. My source noted that Philippe Laffont realized the breakout potential of businesses like Zoom and Wayfair, raising $1 billion to snag them at depressed valuations. This adventurousness is perhaps the defining characteristic of Coatue's last five years. Other investors will have played vital roles in each one of these businesses. (H.K. Rather than hungering for a job in Silicon Valley, Laffont sought to make it on Wall Street. View Other Contacts in Coatue Management. Sebastian Duesterhoeft and Lucas Swisher arrived from Silver Lake and Kleiner Perkins, respectively. Two years older than Thomas, Philippe described himself as a reclusive youngster, particularly in his teen years. Our focus is on disciplined, long-term investing across the most exciting mega-trends in technology. Learn about career opportunities at our portfolio companies. Abacus.AI. We aim to identify these trends at a global level and back the biggest beneficiaries as the market develops and matures. The firm's research process identifies investments through its own fundamental financial analysis process that includes interviews, information . [7][8][9][10][11] Thomas Laffont is the firms co-founder and leads Coatues private equity investing. While one co-investor remarked that Coatue had been left "holding the bag" on a few deals, it has also secured stakes in some of the most consequential businesses of the last few years. This is a firm that moves quickly and jumps on opportunities. ", Coatue's hustle doesn't seem to be up for debate. Still, strong talent continues to depart, and while Coatue will believe it can continue to attract gifted employees, humans are peskily non-fungible. Date Closed Lead Office. Coatue has offices in New York City, Menlo Park, California, London, Shanghai and Hong Kong. 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. Coatue creates financial models for the businesses it analyzes. Capabilities . We combine decades of experience with unconventional agility and a hunger for innovation. In 2000, Tiger Global made its first private investment, backing Russian search engine Yandex. 39 (as of 11 May 21) Employees. [3] Coatue invests in public and private markets with a focus on technology, media, telecommunications. The principal office where Coatue Management, L.L.C. 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. They may also reveal information or provide tips on interviewing skill requirements, and other factors that could help when applying for a position at that company. Reports suggested that Izydorczyk was a harsh leader with brutal expectations. Erlich brought high-level operating experience to the table alongside an investing track record, having founded connected worker platform Parsable, incubator MuckerLab, and firm Outlier Ventures. I was fortunate to get a relatively clear picture of the firm's internal hierarchy through my discussions. A source described both Laffonts as "very scary." Thank you! Multi-million dollar bonuses are discretionary and not explicitly linked to an individual's investment performance. Senft primarily focuses on consumer internet businesses and has scored some major wins in that category, with the fund's backing of Bytedance, Tencent, and Facebook apparently down to him. In doing so, we'll learn that the superficially similar firms are leveraging meaningfully different tactics., Unlike Tiger, Coatue does not seem to want to index the private tech sector. Philippe Laffont graduated from MIT (MS in Computer Science) in 1989. Since Philippe Laffont founded the firm in 1999 with just $15 million, the crossover fund has expanded to a size that puts it among the giants of the financial world. Managing Partner. Izydorczyk worked closely with Philippe Laffont to develop Coatue's capabilities in this area, eventually joining full-time. ", To bolster its capabilities, the Laffont's staffed an in-house research team, managed by a former BCG consultant. That represented the beginning of an accelerating private market run still in full swing., Tiger's move into the space was motivated by an understanding that many interesting technology companies had yet to hit the public markets. As his educational background suggests, Philippe has a natural gift for numbers. Most notably, that has occurred in the private markets with a now-thriving growth stage strategy alongside carve-outs in fintech, climate tech, and beyond. Whatever the figure, Thomas Laffont and Daniel Senft had money to spend. Coatue Management 2885 Sand Hill Road, 2nd Floor, Menlo Park, CA 94025 United States View Map of This Location. ", It is still relatively early days. Develop 3D tools in Unity and Unreal Engine 5 for annotation of computer vision data that plays a critical role in our machine learning pipeline. No other firm has constructed quite such a sophisticated constellation of attributes. Kicking off in 2015, "East Meets West" was initially held at the Four Seasons on Hawaii's big island before moving to California's Pebble Beach in later years. The same is true of junior investors, with most receiving low six-figure base salaries. The fact that the firm felt confident in doing so showed it had begun to hit its stride. Key Principal:SCOTT HECHLIK See more contacts Industry:Management services The emergence of new business models through web3., The introduction of historically offline businesses to online tooling.. The Generalist helps you understand how the best businesses and investors win. He also shared Thomas Laffont's connections to Hollywood, having spent more than seven years in business development at CAA. Get Randi Dennett's email address (r*****@coatue.com) and phone number (516626..) at RocketReach. Use cases $48.61B (as of 11 May 21) Accounts. mxx@coatue.com: Karen Resnick: Coordinator: California, USA . Here are further demographic highlights of the leadership team: The Coatue Management executive team is 0% female and 100% male. The firm may, however, make short-term opportunistic investments as it sees fit. 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. Coatue Management has 157 employees, of which 10 are in a leadership position. Beyond participating in governance, Coatue leverages its data capabilities to support its investments. A lawyer by training, Ana came from an influential family in the country. The top 10% of employees earn more than $185k per year. Website. We established our public equity strategy with the firm's launch in 1999. That's still a way short of Tiger's 362 for the year but is an undoubtedly rapid pace., It seems to have worked, for the most part. Even though they may have been late to the sector, the firm has established an impressive base in crypto with investments in Fireblocks, OpenSea, Alchemy, Dapper Labs, and Dune. Company reviews can provide helpful insights into the company culture, working conditions, benefits, compensation, and training opportunities in Coatue. The salary paid can be different for the same position in Coatue based on experience, skills, and education. Perhaps only a handful of firms have institutionalized their experience quite so effectively., What does all of this amount to? Afterward, senior management texted directly to express their excitement and get the deal across the line., Another portfolio founder shared a similar experience. Develop advanced features for automatic generation of realistic 3D characters, scenes and animations. 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 As the source mentioned, it demonstrated to startup founders that Coatue was intelligent, thoughtful, and willing to do the work. The Box deal was followed up with direct investments into Hotel Tonight, Evernote, and Lending Club. Though excited by the creator economy and interested in the business, Coatue apparently couldn't find a viable way to make the numbers "stack up." As demonstrated by the Snap deal, early-stage companies valued deep research and proprietary insights. Individual salaries will, of course, vary depending on the job, department, location, as well as the individual skills and education of each employee. However, other organizations have shown it is possible to achieve remarkable outcomes without the coarseness of Coatue's methods., One former employee remembered their time at the firm, saying, "I've never been yelled at moreFrequently, we would get called a fucking embarrassment." , In researching Coatue, one issue appeared too many times to ignore: its aggressive internal culture. Coatue Management Reviews Updated 21 Jul 2022 Find Reviews Clear All English Filter Found 11 of over 11 reviews Sort Popular Popular Highest Rating Lowest Rating Most Recent Oldest first 3.3 37 % Recommend to a Friend 40 % Approve of CEO Philippe Laffont 5 Ratings Your trust is our top concern, so companies can't alter or remove reviews. Mazzeo had famously worked at Lowercase Capital, a firm with legendary returns. Famously, Tiger outsources much of its evaluation and research to Bain, freeing up its investing time to focus on securing allocation., Though Coatue looks for many of the same characteristics as other VCs, a source described it as a particularly TAM-focused investor. In the process, it built relationships with management teams and developed a sharper understanding of the underlying dynamics. ", Life turns on such moments. For an organization of Coatue's size, such dexterity is both unusual and worthy of recognition.. Thomas Laffont and Daniel Senft serve as trusted lieutenants with greater latitude than other senior investors. "I immediately loved them," the founder noted., When Coatue was informed during a second call that the founder expected a term sheet from another firm that day, the partnership and back-office team sprang into action, sending an offer of their own by the end of the one-hour meeting. Kris Fredrickson. Tears might not be spilled over such things, but there are only so many times you are willing to endure investing in the next Notion, OpenSea, Lyft, or Meituan without securing the bag. Though the company wasn't actively raising, Coatue pre-empted fundraising discussions arriving with thorough research and data, used in a "very, very impressive way." Since he had attended MIT, his CV was automatically routed to Tiger's IT department, who promptly responded that they had "no space" but that Laffont had a "wonderful resume. His brother Thomas chairs these vehicles and works out of the Bay Area office of Coatue Management. In December of 1999, when the fund opened its doors, the Nasdaq Compositean index of the exchange's stocksstood at 4,000. 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. That was compelling to Spiegel, who made frequent trips to China to understand the local dynamics better., It paid off. One source described it as "a pretty brilliant move," with Coatue getting credit for bringing notables like Mary Meeker, Yuri Milner, and Pony Ma into conversation., Of course, there have been awkward moments. The megafund might look like Tiger Global, but it's operating a very different playbook. (Coatue) maintains a single website, www.coatue.com, and Coatue does not solicit, offer, or sell securities via the Internet. Coatue is a global investment firm with offices in New York, Menlo Park, San Francisco and Hong Kong. It doesn't run an office outside of the United States. Christian Rolon: Proprietary Research Associate: Pennsylvania, USA rxx@coatue.com: Eric Kogut: Controller - Family Office: New York, USA . client relations, account management, or similar experience. Surrounded by technical savants at MIT, Philippe began to feel as if he needed to "repurpose" his talents outside the realm of hard math and science. One source I spoke with suggested its assets under management may now reach as high as $90 billion., Yet, as it has grown, Coatue has seemed to lose none of its nimbleness. "Two and out, two and out, two and out," a different source remarked, describing Coatue's habit of chewing up employees and spitting them out every two years., Not only does Coatue lose many talented investors thanks to its approach, but it also seems to offer little development for those it retains. In that respect, Laffont's construction resembles the companies in which it invests more than many of its rivals. Thomas Laffont called up underlings via Zoom before administering his critique, a habit that has left a lingering mark. "Uber was our white whale," they noted, lamenting that "Travis wouldn't give us the time of day. It was the kind of job useful in hindsight but frustrating in the moment. This feels like a particular disappointment given Philippe Laffont's history with Tiger Management, a firm fabled for its cultivation of young talent. "He has an incredible product mindset," the founder said, noting that they considered Mazzeo one of the best in the world in this area. . Rather than heading to a meeting and waiting to be pitched, the firm's investors would do the pitching. Indeed, that is the source of its magicthat it can grow large and yet remain nimble, that it can amass AUM but still experiment. New York, New York, United States . 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. It is now time to examine the firm's current playbook. Like Robertson, Philippe built his empire from relatively humble beginnings. Like his mentor, Philippe planned to buy the best companies and short the worst, though he narrowed his focus to the world of technology. Coordinator Coatue Management Mar 2020 - Oct 20211 year 8 months San Francisco Bay Area Executive Assistant Spin - Electric Scooter Sharing Dec 2018 - Mar 20201 year 4 months San Francisco. Headspin raised $60 million on the back of that traction, receiving a valuation of $1.16 billion. Over his six years at the agency, he worked for Bryan Lourd, an industry heavy-hitter who counts George Clooney, Ryan Gosling, Scarlett Johansson, Paul Thomas Anderson, and Lady Gaga among his clients. He tends to be a big picture thinker with a skill for playing devil's advocate, poking holes in consensus opinions.. Coatue soon brought a heavy-hitter aboard to manage this team: Dan Rose. He soon brought along a former colleague, Caryn Marooney, who had served as Facebook's VP of Communications. They had seen the power social media and messaging businesses had to translate attention into monetization. To stay competitive, Coatue needed to move earlier.. Similarly, Coatue can study a new marketplace and judge where average moderation spending sits. After leading the Series A, Philippe Laffont reportedly sent a WhatsApp message to a group chat featuring dozens of billionaire investors, introducing them to the service. Of the group mentioned above, three are now publicly tradedofo and Kuaikan are yet to reach that stage., Coatue formalized its transnational approach with the introduction of the "East Meets West" conference. Our focus is on disciplined, long-term investing across the most exciting mega-trends in technology. Philippe Laffontsert en tant que CEO / President de Coatue Management . the consumer and healthcare sectors. Regardless, more than many other funds, Coatue knows what it's looking for. He left the firm in 2021. Occupational field . Perhaps the best way to understand Coatue's hierarchy, then, is through a matrixed approach. 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. "Philippe is very intense," one person said. Research Coordinator @ Coatue Management. Location. Talking about Cameron Friscia's relationship status, he is a married man. Nevertheless, it gives a sense of how Coatue functions and governs.. ", That soon became something of a calling card for Coatue. Though the Laffonts' firm deploys aggressively, it does seem to be pickier. 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