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Philippe Laffont’s Coatue is planning to arrange an workplace in Europe – NEWPAPER24

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Philippe Laffont’s Coatue is planning to arrange an workplace in Europe

2021-10-06 07:36:05

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Philippe Laffont, founder and chief funding officer of Coatue Administration LLC.

Chris Goddney | Newpaper24 | Getty Photos

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 trade.

The information was first reported by Newpaper24 and confirmed to CNBC by a Coatue spokesperson.

“We at the moment have workplaces 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 advised 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,” mentioned Rose, who was beforehand an govt at Fb and Amazon.

The New York-headquartered firm is without doubt one of the largest tech buyers on this planet and it has been pumping billions of {dollars} into fast-growing corporations that it believes will get even larger.

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 trade advised CNBC that Coatue has been struggling to search out the precise individuals to rent in Europe, including that the workplace is most definitely to be in London.

“There’s an enormous shortage of expertise,” the individual mentioned, 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 huge U.S. tech funding corporations are additionally seeking to rent individuals on the bottom in Europe, the CNBC supply mentioned.

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