Coatue Management General Partner Left The Company

The Information reported on Monday that Coatue Management general partner Matt Mazzeo has left the business to launch a new investment fund focusing on early-stage entrepreneurs.

Coatue is a New York City-based investment firm that focuses mostly on technology businesses, and it has recently made some high-profile crypto investments.

Coatue led the $300 million Series C fundraising round for non-fungible token (NFT) marketplace OpenSea earlier this year and subsequently joined in Dapper Labs’ $725 million ecosystem fund announced in May.

The hedge fund has also recently backed new crypto market maker Portofino Technologies, which was created by former Citadel Securities personnel.

According to his LinkedIn page, Mazzeo has been a general partner at Coatue since January 2018. Mazzeo formerly worked as a managing director at Chris Sacca’s Lowercase Capital, a venture capital firm that invested in now-ubiquitous Internet companies such as Instagram, Twitter, and Uber.

Mazzeo’s AngelList website highlights investments in businesses such as OpenSea, Medium, and Airtable, as well as exits from firms such as Hinge, Slack, and Gimlet Media.

According to Reuters, Coatue lost 17% in August as tech-focused hedge funds more widely weathered a difficult market.

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