Coatue has been on a buying frenzy in the private markets. The Tiger Cub headed by Philippe Laffont led or participated in four different financings of unicorns last week as the firm continues to ramp up its venture capital activity.
Coatue, which manages about $70 billion, has a separate VC arm headed by Tom Laffont.
Notably, Coatue and Hillhouse Investment co-led the blockbuster $4.5 billion Series C financing of DayOne Data Centers, a Singapore-based global digital infrastructure platform, according to a press release. The two previously existing investors are now the largest investors in the company.
Coatue is committed to investing in data centers as part of its AI strategy. Last month, The Wall Street Journal reported that the firm had launched Next Frontier, which plans to buy land to be developed for AI data centers. It is expected to spend tens of billions of dollars, according to the report, and is currently buying land in Indiana for a data center campus.
Last week, Coatue participated in the $500 million Series F financing of Supabase, the open-source Postgres development platform. The deal valued the company at $10.5 billion. Coatue has been an investor in the company since its infancy.
“We led Supabase’s Seed and Series A, and have sat alongside them ever since. Today they’re announcing their latest round of funding,” Coatue said on LinkedIn. “Supabase is the open-source Postgres development platform built for the way software is made today. A complete back end — database, authentication, storage, real-time, vector search — used by the majority of AI app builders and 9 million developers worldwide. As agents reshape how software gets built, Supabase has become the default infrastructure underneath it.”
Coatue also was among a slew of investors and a small group of hedge fund firms participating in the $750 million Series F financing of Ramp last week, valuing the company at $44 billion. The company describes itself as “the smart financial infrastructure behind every card swipe, invoice, and reimbursement.” Other hedge fund participants included D1 Capital and D.E. Shaw.
Ramp boasts more than $1 billion in annualized revenue, with positive free cash flow. It says it has more than 70,000 customers, including Visa, Uber, Shopify, Anduril, Figma, Notion, Cursor, Stanford Athletics, and Boys & Girls Clubs.
And Israeli AI and data security company Cyera raised $300 million at a valuation of $12 billion, according to Calcalist, a daily financial news outlet in Israel. One of the company’s blue-chip investors was Coatue, which has been involved in several financing rounds. This was Cyera’s third fundraise in ten months.
In January, the company announced a $400 million Series F funding round at a valuation of $9 billion. Coatue was one of several investors. This fundraise came just six months after the previous financing, when the company was valued at $6 billion, according to press releases.
