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Coatue, JPMorgan Weigh Funds to Buoy Capital-Hungry Startups

  • Coatue is targeting $2 billion, and most is raised already
  • Firm to make a “significant” capital contribution to vehicle
Updated on

Coatue Management is raising a structured equity fund that could help cash-strapped startups stave off raising money at lower valuations amid turbulent public markets, and JPMorgan Chase & Co. is weighing a similar fund, according to people familiar with the matter. 

Philippe Laffont’s Coatue has begun discussing its planned Tactical Solutions Fund with potential investors, some of the people said. The firm is targeting $2 billion for the effort and already has raised $1.2 billion from anchor investors, a presentation shows. While it will mostly provide capital to publicly traded companies, about 20% will be earmarked for closely held startups, potentially including those the hedge fund has previously backed, one of the people said.