Michael Gilroy and Gokul Rajaram Co-Found New Venture Capital Firm

Michael Gilroy, the former head of fintech at the investment firm Coatue Management, is joining forces with Gokul Rajaram, a tech investor and board member of Coinbase, to establish a new venture capital firm. This information was reported by Bloomberg, citing a knowledgeable source.

Fundraising Efforts

The team aims to raise up to $500 million for their inaugural fund. Although they are currently in discussions with potential anchor investors, formal fundraising activities are not expected to commence until 2025.

Investment Focus

While the name of their new venture has yet to be announced, it will primarily focus on investing in early-stage financial technology and software firms based in the United States, as reported by Bloomberg.

Background of Michael Gilroy

Gilroy’s previous role included serving as Coatue’s fintech head and co-chief operating officer for growth, as well as general partner, holding these positions for over four years.

Coatue Management, headquartered in New York City, has invested in a variety of tech sectors, including entertainment, retail, transportation, and crypto. Notably, in June, a fund managed by Coatue invested $150 million in the bitcoin miner Hut 8 to assist its expansion into artificial intelligence infrastructure.