Philippe Lafont, Founder and Chief Investment Officer of Cotu Management LLC.
Chris Godney | Bloomberg | Getty Images
london- Cotu Management, a US hedge fund, is planning to open a new office in Europe as part of its efforts to take advantage of the continent’s growing technology industry.
The news was first reported by Bloomberg and confirmed to CNBC by a court spokesperson.
“We currently have offices in New York, San Francisco and Hong Kong, and we are pleased to add more offices in Europe in the near future,” Dan Rose, president of Cotu Ventures, told CNBC.
“We believe that Europe is emerging as an important innovation hub in both public and private markets, as evidenced by increasing venture capital activity across the continent,” Facebook said earlier. Amazon executive Rose said.
Headquartered in New York, the company is one of the largest tech investors in the world, spending billions of dollars on a fast-growing company that it believes will grow.
Founded in 1999 by Philippe Lafont and Thomas Lafont, the company’s notable investments include TikTok’s parent companies ByteDance, Snap, and Spotify.
Venture capital industry sources told CNBC that Coteau is having a hard time finding the right people to hire in Europe, adding that the office is most likely in London.
“There is a great lack of talent,” the person asked to remain anonymous due to the nature of the discussion. Kotyu declined to comment on the allegation.
It takes less than a year for Coatue to arrive in Europe after Sequoia, a well-known Silicon Valley venture capital firm, opened a new office in London.
According to CNBC sources, several other major US tech investment firms are also looking to hire talent on the ground in Europe.