Coatue, an investment management company that has under management assets of more than $73B worth, has reportedly been deprived of other 2 general collaborators recently. In August this year, Luca Schmid decided to leave the company while Sebastian Duesterhoeft followed him after a month, according to the information surfacing on Friday, referring to a person acquainted with the topic.
Coatue Sees the Departure of 2 More Prestigious Collaborators, Say the Reports
The strategy of Schmid is to operate with Guillaume Pousaz (the CEO and founder of Checkout.com) to initiate a family office focused on investing in successful fintech companies, as per the report. It is noticeably here that Schmid was the leading figure in the case of fintech and crypto-based investments, taking into account the N26, Chime, Checkout.com, Dune Analytics, Fireblocks, and Chainalysis, per the LinkedIn profile of the person.
Contrary to that, Duesterhoeft played a prominent role in leading the tech investments of the venue, in which Snyk, Snowflake, and Airtable were included, as mentioned on his LinkedIn profile. Both the executives of Coatue, Duesterhoeft, and Schmid, are considered to be the new executives who are departing the company. In the previous week, the reports brought to the front that a general partner operating at Coatue – Matt Mazzeo – exited the company.
The motive behind his step was to begin a separate investment fund that would be specified for the support of early-stage ventures. The deals of Mazzeo at Coatue were reportedly related to OpenSea – a giant among the marketplaces of non-fungible tokens (NFTs). The establishment of Coatue was witnessed in 1999 on the behalf of Thomas Laffont and Phillippe brothers in the form of a hedge fund.
After that, gradual progress was shown by the project and it endeavoured to turn into a prominently enthusiastic tech investor at the time of the recent hike within the crypto industry. formerly in 2022, it was reported that the company (which is based in New York) had been involved in making investments in a minimum of up to fourteen crypto ventures. Among these startups, familiar names such as MoonPay, Dapper Labs, CertiK, Bitman, and Alchemy were also included.
Mazzeo’s plans at Coatue, according to the reports, were also related to Niantic (a platform specialized in developing products linked to augmented reality). Mazzeo does not stop here and has a long vision spanning the coming years. He has a strategy focusing attention on assisting the ventures in need of some help to endure the hard times, as per the reports.
The Venture Capitals Drop Amid the Worst Market Scenario
A noteworthy point here is that his departure has become a part of the news headlines at a crucial moment. This event has taken place when the crossover funds like Tiger Global Management and Coatue (the VC companies which have their basis in public equities’ trading) have seen a decline due to the worst scenario witnessed throughout the stock markets.
