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Andreessen Bets on The Coterie, Eyeing Tech’s Young and Wealthy

  • Startup gives access to Coatue and other venture funds
  • The Coterie has about $500 million in assets under management
The Coterie co-founders Christopher Boies, from left, Ethan Agarwal, and Jeson Patel
The Coterie co-founders Christopher Boies, from left, Ethan Agarwal, and Jeson PatelSource: The Coterie
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Andreessen Horowitz led a $40 million funding round for The Coterie, valuing the financial technology platform at more than $100 million. 

In the year since its launch, The Coterie has amassed roughly $500 million in assets under management, Chief Executive Officer Ethan Agarwal said in an interview. The idea behind the San Francisco-based company was hatched when Agarwal -- then the founder and CEO of fitness app Aaptiv -- faced challenges obtaining a mortgage after forgoing his salary.