Philippe Laffont, founder and chief funding officer of Coatue Administration LLC.
Chris Goddney | Bloomberg | Getty Photographs
LONDON — U.S. hedge fund Coatue Administration is planning to arrange a brand new workplace in Europe as a part of an effort to capitalize on the continent’s rising tech business.
The information was first reported by Bloomberg and confirmed to CNBC by a Coatue spokesperson.
“We presently have places of work in New York, San Francisco and Hong Kong, and we’re excited so as to add an workplace in Europe in some unspecified time in the future within the close to future,” Coatue Ventures Chairman Dan Rose informed CNBC.
“We consider Europe is rising as an necessary innovation hub in each the private and non-private markets, as evidenced by the rise in enterprise capital exercise throughout the continent,” stated Rose, who was beforehand an government at Fb and Amazon.
The New York-headquartered firm is among the greatest tech buyers on the planet and it has been pumping billions of {dollars} into fast-growing firms that it believes will get even greater.
Notable investments from the agency — based in 1999 by Philippe Laffont and Thomas Laffont — embody TikTok parent-company ByteDance, Snap and Spotify.
A supply within the enterprise capital business informed CNBC that Coatue has been struggling to seek out the fitting individuals to rent in Europe, including that the workplace is more than likely to be in London.
“There’s an enormous shortage of expertise,” the particular person stated, asking to stay nameless because of the nature of the dialogue. Coatue declined to touch upon the declare.
The anticipated arrival of Coatue in Europe comes lower than a yr after famend Silicon Valley enterprise capital agency Sequoia opened a new office in London.
A number of different massive U.S. tech funding companies are additionally trying to rent individuals on the bottom in Europe, the CNBC supply stated.
