Coatue's Matt Mazzeo leaving to start his own fund: The Information
Quick Take
- Coatue Management General Partner Matt Mazzeo is leaving to launch a new investment fund, The Information reported on Monday.
- The tech news outlet said it confirmed the departure with two sources.
Coatue Management general partner Matt Mazzeo has left the firm to start a new investment fund focused on early-stage startups, The Information reported on Monday.
Two people with knowledge confirmed details of Mazzeo's departure, the tech news outlet reported.
Coatue is a New York City-based investment manager focused largely on tech companies, and it has made some high-profile bets on crypto in recent months. Coatue led non-fungible token (NFT) marketplace OpenSea's $300 million Series C funding round earlier this year and then participated in Dapper Labs' $725 million ecosystem fund launched in May. The hedge fund also recently helped back new crypto market maker Portofino Technologies, which former Citadel Securities executives founded.
Mazzeo has served as a general partner at Coatue since January 2018, according to his LinkedIn profile. Before that, Mazzeo held the role of managing director at Chris Sacca's Lowercase Capital, a venture capital firm that invested in now-ubiquitous tech giants like Instagram, Twitter and Uber.
Mazzeo's AngelList page lists investments in a range of startups including OpenSea, Medium and Airtable, and exits in companies including Hinge, Slack and Gimlet Media.
Coatue lost 17% through the month of August as tech-focused hedge funds more broadly weather a tough market, Reuters reported on Sept. 15.
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