Coatue Management has been on a private investment spree.
The Tiger Cub headed by Philippe Laffont made at least eight new investments in a little more than a week’s time leading up to the holiday weekend.
To put this into perspective, Coatue made more private investments made during this short period than Tiger Global Management, which, on average, has made more than one private investment per day this year.
Altogether, Coatue has made 24 private investments this quarter and 94 this year, making it one of the most active investors in the private space, especially among firms best known for their hedge funds.
Of the recent eight, Coatue led fundraising for at least two of them, while several of them are unicorns.
For example, on August 26 it co-led the $48 million Series B funding round of Workstream, a hiring platform and mobile app used by businesses to source and onboard hourly workers, according to a press release.
Jay-Z’s RocNation and Will Smith’s Dreamers VC are among Workstream’s investors, along with Eric Yuan, CEO of Zoom, and Tony Xu, CEO of DoorDash, according to the announcement.
Coatue also recently co-led the $220 million Series C funding for Grafana Labs, according to a press release. The company offers an open-source software platform built to support monitoring, visualization, and metric analytics, according to TechCrunch.
Grafana Labs said the fundraising round valued the company at $3 billion.
Other investors include Bloomberg, JPMorgan Chase & Co., eBay, PayPal, and Sony, according to the press release.
As part of the deal, David Schneider, general partner at Coatue, joined the board of directors alongside a second individual from the investor groups. He previously served as president at ServiceNow.
“At ServiceNow, I was able to witness first-hand how difficult it is to build an effective observability system that can provide teams with a single view across the organization,” Schneider said in the press release. “We think that Grafana Labs and their vendor-neutral ‘big tent’ philosophy have made it easier for organizations to keep tabs on all of their systems from one single dashboard.”
Coatue also participated in six other financings in the past couple of weeks, several of which were for unicorns.
For example, on August 31 Coatue participated in the $1.6 billion Series H funding round for Databricks, a data and artificial intelligence company, according to a press release.
The funding puts the company’s valuation at $38 billion, according to the announcement.
Other investors included Tiger Global Management, Whale Rock Capital Management, and Discovery Capital Management.
Coatue also participated in the $300 million Series C funding round for spend management company Ramp. It came just five months after the company raised $115 million.
It is now valued at $3.9 billion, more than double the $1.6 billion that Ramp was valued at back in April.
D1 Capital Partners also participated in the Series C funding.
Coatue also participated in the $240 million Series F funding for Kuaikan Manhua, a Chinese app for original online comic artwork.
Bloomberg said the round valued the company at $1.25 billion, citing a person familiar with the matter.
