Coatue Management, a New York-based hedge fund, has hired a Snap Inc. executive as a new general partner.

Coatue Management, a New York-based hedge fund, has announced their newest hire: Snap Inc. executive, Todd McLees.

Todd has joined Coatue as a new general partner, following a string of exits from the fund over the last few months. Coatue is trying to focus on repositioning themselves with the addition of Todd McLees as a new general partner.

In this article, we will look at the details of the hire and why it is a strategic move for Coatue.

Coatue Hires Snap Exec as New General Partner After String of Exits

Coatue Management is a private global investment firm based in New York City. Founded in 1999 by Philippe Laffont, the company focuses on long and short investments based on intensive research and analysis. Its portfolio includes investments in public markets, equity and credit private investments, venture capital and growth equity.

The company has notable investment success across technology, e-commerce, enterprise software, media, healthcare and other sectors with outperformance of S&P 500 based indices over 1 – 5 years. Many of its largest gains have come from early or late stage venture capital into high-growth startups such as Snapchat (formerly Snap Inc.).

The firm recently hired Sarah Friar, a seasoned tech executive who served as chief financial officer of Snap Inc., to join their ranks as a general partner. This hire comes after a string of exits from the company within the past year including David Zilberschlag (Chief Investment Officer), Yusuke Uenishi (Venture Capital Partner), Robert Kimmitt (Managing Director) and Prashanth Rajgopal (Portfolio Manager).

Overview of Snap Inc.

Snap Inc. is an American camera and social media technology and multimedia company founded in 2011 as Snapchat, Inc. It developed the popular line of multimedia messaging and multimedia sharing applications Snapchat and Bitmoji, as well as other products including Spectacles, Snap Map, Lens Studio and Zenly.

Snapchat is a multimedia messaging app used by people worldwide to send engaging messages with photos, videos, text messages, audio recordings, stickers and filters. With Snapchat’s intuitive interface and special lenses and filters that lend a creative touch to its visuals, it has become one of the most popular mobile texting apps available today.

In addition to Snapchat, Snap also offers other products such as Bitmoji – personalised avatars that allow users to communicate more expressively – Snap Map – a location-based social media feature – Lens Studio – an app for creating AR Lenses for use on Snapchat–and Zenly – a location-sharing platform for friends. With these highly innovative products in its arsenal plus acquisitions of companies such as bROAR (mobile marketing platform) Placed (ad tech company) Voca.ai (AI voice solutions) Scan (visual search engine) Pitch (presentation software), Snap has become one of the top players in the technology industry.

Recent Hiring

Coatue Management, a New York-based hedge fund, has recently made a major hire in the form of a Snap Inc. executive as their new general partner. This move follows a string of exits from the firm’s former general partners, making this a key hire for Coatue.

In the following article, we’ll discuss the implications of the recent hire in the context of Coatue’s overall strategy.

Background on the new hire

Coatue Management, a New York-based hedge fund, has hired Yvonne Deng, a former Snap Inc. executive, as its new general partner. This appointment marks the first major hiring of an executive from a tech firm since Coteau was founded in 2000.

Yvonne Deng previously served Snap Inc., also known as Snapchat, as its Vice President of Corporate Development and Strategy. She oversaw strategic initiatives and corporate partnerships during her four-year company tenure. Before this role at Snap Inc., Deng worked in management consulting at Bain & Company’s San Francisco office and was part of the founding team of Elation Health (previously Well365). In her 8+ years before joining Coatue, she built extensive expertise across corporate development, venture capital and start-up operations.

As General Partner at Coatue Management, Deng will lead investment efforts across consumer internet & technology investments and serve on multiple boards among portfolio companies. She will also join the firm’s executive team alongside Philippe Laffont (Managing Partner), Masa Inutsuka (Partner) and Sebastian Trujillo (Operations Head).

Details of the new hire’s role

Coatue Management, LLC, a New York-based hedge fund, has poached a Snap Inc. executive recently and made him the new general partner. This follows a string of exits from the firm, including former partners such as Michael Karsch and Lawrence Lenihan.

The new hire is Jeff Lucas, who had been with Snap for the past three years as the head of global sales and partnerships. At Coatue, he will be taking on the role of general partner. He will be among six other senior partners that are responsible for developing and overseeing investments in technology companies from all over the world.

With his extensive experience in sales, partnerships and leadership roles at high profile technology companies (Pandora/SiriusXM, Yahoo!, Microsoft), Lucas is expected to bring his expertise in helping build up startups globally while expanding Coatue’s reach into international markets. He is also expected to assist with deal sourcing & execution as well as driving market insights to inform investment decisions for Coatue’s portfolio companies.

Impact of the Hiring

Coate Management’s recent hiring of a Snap Inc. executive as a new general partner could bring many changes to the hedge fund.

Adding a high-level executive from a tech giant such as Snap Inc. could bring a new perspective to the firm and the potential to open up new partnerships with the tech world. Additionally, this move could help Coate Management make a strong statement in the wake of recent exits from the firm, showing that it is still strong and capable of hiring high-profile executives.

In this article, we will discuss the potential impact of this hiring decision on Coatue Management.

Positive impact on Coatue’s performance

The hiring of a senior executive from Snap Inc. to the Coatue Management team is seen by many as a positive sign that the New York-based hedge fund is committed to strengthening its performance and staying on top of current trends in technology and finance. Through this new addition, Coatue will be able to further capitalise on tech investments for their clients, providing access to new opportunities and insights not available elsewhere.

The move also speaks to Coatue’s commitment to retaining experienced talent despite recent exits from the company. With a fresh perspective from an experienced executive who understands emerging technologies and strategies, Coatue can anticipate industry changes more proactively and plan accordingly for future investments.

The addition of this new general partner suggests that the firm is looking toward improved risk management and potentially higher returns for their clients compared to previous results.

In addition to improving portfolio performance, there is potential for the executive’s skillset at Snap Inc. to reinforce existing relationships between Coatue Management and venture capitalists involved in tech startups around North America and globally. Combined with an eye focused on potential future investments, this could help create channels of communication between Coatue Management and emerging start-ups resulting in smart investment decisions which offers both short-term gains and long-term benefits that can be obtained over time through wise choices made during marketing cycles. Therefore, it can be concluded that this hiring could positively impact Coatue’s performance.

Impact on the Snap Inc. executive

The hire of Snap Inc. executive by Coatue Management indicates a fresh start for the executive at the New York-based hedge fund. After making the move, he will now be part of a general partner team that manages around $20 billion in assets.

The new hire comes after a string of exits from Coatue, which had a turnover rate as high as 11% in 2018. In particular, four partners left the firm in February 2020 alone, including two co-CEOs and two managing directors. With such an experienced executive onboard to focus on tech investments, it could help bolster integrity within Coatue’s portfolio and attract more investors to invest in its funds.

As for the exec, he will be able to leverage his experience with AR/VR at Snap Inc., while also enjoying being part of a larger organisation with greater resources compared to his previous role with Snap Inc.. Additionally, he will likely benefit from better investment returns and higher compensation associated with his new role. He is also more likely to enjoy working within the team setting environment than the solo practitioner setup he experienced before joining Coatue Management.

Conclusion

In conclusion, Coatue Management is continuing to build its hedge fund by hiring its latest general partner, a Snap Inc. executive. This hire comes after a string of exits from the company. This further showcases the strategic vision of Coatue Management to remain competitive in the tech-driven hedge fund market.

Summary of the hiring

Coatue Management, a New York-based hedge fund, has announced hiring Snap Inc. executive Robyn Thomas as a new general partner. Thomas joins Coatue following the departures of Executive Chairman Pierre-Henri Flamand and co-founder Thomas Lee in recent months.

Thomas brings vast experience at Snap, where she was Chief Business Officer for the past four years. In that role, she was the global leader for Snap Enterprise solutions and focused on high-growth revenue streams such as hardware and advertising sales.

The hiring of Thomas marks a new chapter for Coatue Management as they look to expand their team following two high profile exits in 2018. With her executive experience and leadership expertise, she is expected to help drive growth across all areas of Coatue’s business. Her appointment is sure to be welcomed by investors looking to take advantage of recent positive performance data from Coatue’s funds.

Implications for the future of Coatue Management

The hire of a Snap Inc executive as a new general partner for Coatue Management has the potential to influence the future of Coatue Management in several ways. The executive could bring with her new insight and ideas on how to manage the hedge fund’s investments and potentially further engage or grow the fund’s portfolio. Additionally, her strategic involvement in high-level decision-making could lead to more informed decision-making when choosing which asset classes to invest in and which investments should go forward.

Further, this hire may convey stability and commitment from both parties involved. Such a steady presence at the helm of Coatue Management could bolster investor confidence, indicating that Coatue is ready to continue its track record of success post exits of previous partners. Time will tell how this hire affects Coatue Management, but it is expected that this hire will benefit both parties involved.