In the latest tech investment news, Coatue Management, known for its substantial investment in tech startups during the pandemic boom, is now planning to raise a staggering $1 billion. This fund will be primarily dedicated to supporting companies that are aiming to make strides in the field of Artificial Intelligence, as reported by Bloomberg on Monday.

This massive investment, set to significantly boost Coatue’s flagship fund, is expected to be predominantly sourced from institutional investors. However, the report also suggests that affluent individuals holding accounts with the brokerage firm Raymond James and Associates may also get the opportunity to invest in Coatue’s ambitious venture.

Coatue, currently managing nearly $50 billion in assets, has a commendable investment history. In 2021, they invested in over 170 VC-backed companies, as per PitchBook data. However, the hedge fund has slowed its pace in recent years, investing in only 81 companies in 2022, and around 30 companies in 2023.

Notwithstanding the slowdown, Coatue is far from finished with its investment in private companies. In 2024 alone, they have already invested in 29 startups, as per data from PitchBook. Their latest AI-focused investments include Glean, Scale AI, and Skild AI, which is working on creating a versatile AI robot. Coatue’s founder, Philippe Laffont, has expressed his excitement about the potential of humanoid robots powered by AI.