Philippe Laffont’s Coatue plans to arrange an workplace in Europe


Philippe Laffont, Founder and Chief Investment Officer of Coatue Management LLC.

Chris Goddney | Bloomberg | Getty Images

LONDON – US hedge fund Coatue Management plans to open a new office in Europe to benefit from the continent’s growing technology industry.

The news was first reported by Bloomberg and confirmed to CNBC by a Coatue spokesman.

“We currently have offices in New York, San Francisco and Hong Kong and look forward to adding an office in Europe in the near future,” Dan Rose, Chairman of Coatue Ventures, told CNBC.

“We believe Europe is becoming a major innovation hub in both the public and private markets, as evidenced by the growth in venture capital activity across the continent,” said Rose, who previously served as an executive at Facebook and Amazon.

Headquartered in New York, the company is one of the largest technology investors in the world, and has pumped billions of dollars into fast-growing companies that it believes will get bigger.

Notable investments made by the company, founded in 1999 by Philippe Laffont and Thomas Laffont, include TikTok parent company ByteDance, Snap and Spotify.

A venture capital industry source told CNBC that Coatue is struggling to find the right people in Europe, adding that the office will most likely be in London.

“There is a huge shortage of talent,” the person said, asking to remain anonymous due to the nature of the discussion. Coatue declined to comment on the claim.

Coatue is expected to arrive in Europe less than a year after the renowned Silicon Valley venture capital company Sequoia opened a new office in London.

Several other large US tech investment firms are also looking for local employees in Europe, the CNBC source said.