Name: Coatue’s Newer Growth Funds Return More Than 45% Annually, Internal Data Show
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Coatue’s Newer Growth Funds Return More Than 45% Annually, Internal Data Show

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Photo: Dan Rose (left), Thomas Laffont (center) and Philippe Laffont (right) of Coatue Management. Photo of Rose and Philippe Laffont by Bloomberg. Thomas Laffont photo by Erin Beach.The private tech funds of Coatue Management, the New York hedge fund that’s become one of Silicon Valley’s biggest investors, have started to outpace the returns of rival VC firms in recent years as the size of those funds swelled, according to internal data reviewed by The Information.Coatue’s third venture growth fund, which it raised in 2017 to invest primarily in more-mature startups, posted a net internal rate of return of 47% as of last December, according to a May memo for prospective investors in its multibillion-dollar, fifth growth fund. That puts the 2017 fund, which includes stakes in big names such as TikTok owner ByteDance and food-delivery firm DoorDash, in the top quartile of venture funds raised in the same year, according to investment adviser Cambridge Associates. By contrast, the firm’s first two growth funds, raised in 2013 and 2015, posted returns that were multiple percentage points below the top quartile of fund performers, as the chart below shows.Join now to read the full storyContinue with AppleorGet access to exclusive coverageRead deeply reported stories from the largest newsroom in tech.Latest Articles&nbsp;In 2006, ad agency BuderEngel was about to turn down a client that wanted it to promote an MP3 player called Zvue because the client’s budget was too small for traditional advertising. Brendan Gahan, who was a recent college grad working for the agency, suggested they instead pay a popular YouTube channel called Smosh to promote the device.&nbsp;“We got millions of views and crashed the client’...Latest Briefs&nbsp;Former Disney CEO Bob Iger Joins Thrive CapitalCitadel Securities, Fidelity and Charles Schwab to Launch New Crypto ExchangePatreon Lays Off 17% Of StaffStay in the knowReceive a summary of the day's top tech news—distilled into one email.Access on the goView stories on our mobile app and tune into our weekly podcast.Join live video Q&amp;A’sDeep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.Enjoy a clutter-free experienceRead without any banner ads.Recent Popular Stories

Photo: Dan Rose (left), Thomas Laffont (center) and Philippe Laffont (right) of Coatue Management. Photo of Rose and Philippe Laffont by Bloomberg. Thomas Laffont photo by Erin Beach.The private tech funds of Coatue Management, the New York hedge fund that’s become one of Silicon Valley’s biggest investors, have started to outpace the returns of rival VC firms in recent years as the size of those funds swelled, according to internal data reviewed by The Information.Coatue’s third venture growth fund, which it raised in 2017 to invest primarily in more-mature startups, posted a net internal...

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Coatue’s Newer Growth Funds Return More Than 45% Annually, Internal Data Show

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