Coatue Raises $1.4 Billion for New Fund in Down Market

Venture capital firm Coatue Management has raised $1.4 billion for a new fund, a person familiar with the matter said, a companion to a $7.7 billion growth equity fund that has registered a 30% paper loss.

Investors in Coatue’s VC growth equity vehicle will be able to invest at a discount in the new fund, which is targeting $2 billion total, said the person, who asked not to be identified because the deal hasn’t been publicly announced. The new fund will seek to take stakes in late-stage startups at better prices and terms than would have been possible during ...