Tech-focused hedge fund Coatue Management is seeking to raise $500 million for its first investment fund dedicated to early-stage startups, Axios has learned.

  • Axios had previously reported that the early-stage effort will include Matt Mazzeo (ex-Lowercase Capital) and Arielle Zuckerberg (ex-Kleiner Perkins), but a source says it will be led by Thomas Laffont, who also leads Coatue's growth equity investing practice. An SEC filing from last week names Laffont as a manager of the fund.
  • Some of Coatue's recent early-stage investments include PlayVS, Cargo and Lime.

The bottom line: Sand Hill Road is getting more crowded at both ends of the startup investing cycle.

The story has been updated with additional details about Coatue Management.

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