Former Coatue Management Executives Co-Launch New Venture Capital Firm to Raise $500 million

Michael Gilroy, the former head of fintech at crypto-friendly investment firm Coatue Management, is co-founding a new venture capital firm, according to Bloomberg, citing people familiar with the matter. Gilroy is teaming up with technology investor Gokul Rajaram, a current board member of cryptocurrency exchange Coinbase, to raise up to $500 million for the firm's first fund. The two are in discussions with anchor investors about raising money, but it won't officially begin until 2025.
Although Gilroy and Rajaram have not yet named their new company, Bloomberg reports that the company will focus on investing in early-stage fintech and software companies in the United States.