Michael Gilroy, a former head of fintech investments at Coatue, and Gokul Rajaram, a longtime tech executive and prolific angel investor, are forming a yet-to-be-named venture firm and plan to begin fundraising toward a $400 million to $500 million debut fund early next year, Bloomberg reported.
The firm will invest in U.S.-based early-stage fintech and software startups.
While at Coatue, Gilroy invested in fintech companies, including Arta Finance, Melio Solution, Pinwheel, and Mercury. Prior to joining the hedge fund in 2019, he spent over five years as a partner at Canaan. According to PitchBook data, Rajaram has backed over 285 startups, including companies where he serves as a board member: Coinbase, Pinterest, and Trade Desk.
Gilroy is not the only former Coatue investor planning to launch his own firm.
The Wall Street Journal reported last week that Kris Fredrickson, an investor with Coatue’s growth team, aims to raise about $150 million for the debut fund of his new firm, Verified Capital.
Fredrickson left Coatue in 2022, according to his LinkedIn profile. At Coatue, he was the lead partner in investments in Chainalysis, Instacart, and Root Insurance, according to PitchBook data.