Coatue Shuts Europe Venture Office as Startups Struggle (1)

Investment firm Coatue Management is closing its European office in London two years after it opened, part of a strategy overhaul to adjust to a downturn in the technology market.

In an internal memo, the fund’s leaders described the decision as an effort to “streamline” its investing approach, prioritizing domain expertise over regional coverage. “Our commitment to European ventures remains steadfast as you would expect from a firm with three European leaders,” read the message, which was viewed by Bloomberg News.

Sarah Cannon, Coatue’s general partner in London, plans to leave her role and stay in the UK, according ...