Coatue Seeks $1 Billion for Its Flagship Fund to Wager on AI

Coatue Management is looking to raise $1 billion to amplify bets on artificial intelligence and tech innovation, marking the first time in several years it has sought cash for the flagship fund.

The tech-focused hedge fund firm will raise most of the capital from institutional investors, with a smaller amount coming from wealthy individuals through a new arrangement with Raymond James and Associates, according to people familiar with the matter.

Coatue, which oversees almost $50 billion of assets, hasn’t made such an arrangement to tap bank or brokerage clients since 2017.

A representative for Coatue ...