Venture Capital/Analysis/ The 17 European companies Coatue has backed in 2021 As Coatue announces two new deals in Europe worth over $1.3bn, we look at where else it’s placed bets. By Eleanor Warnock and Amy Lewin 19 October 2021 Credit: N26 Credit: N26 \Venture Capital Speedinvest starts €3m fund of funds programme to back emerging managers By Eleanor Warnock 17 February 2023 Venture Capital/Analysis/ The 17 European companies Coatue has backed in 2021 As Coatue announces two new deals in Europe worth over $1.3bn, we look at where else it’s placed bets. By Eleanor Warnock and Amy Lewin 19 October 2021 Like many of its other US peers, New York-based VC firm Coatue has stepped up its presence in Europe over the past year and plans to set up an office in the region soon. Coatue is best known for backing tech giants like ByteDance and Snap — but the team has now also backed some of Europe’s biggest private tech companies. On Monday alone, the firm participated in two deals together worth over $1.3bn — in digital bank N26’s massive $900m Series E and London-based Deel’s $425m Series D. The firm is commonly referred to as a “Tiger Cub” because founder Philippe Laffont worked for Tiger Global, and is known for a similarly fast-paced investment style. He’s obviously still friends with his previous employer because out of 17 of the European startups that Coatue has backed this year (for the first time, or in follow-on rounds), six have also had Tiger on their cap table. Here are all the companies in Europe that Coatue has backed in 2021, including follow-on investments, according to press releases and Dealroom data. We’ll keep updating the list as deals are announced. Deel Sector: HRtech HQ: London, UK Date: Oct 2021 Round: $425m Series D Coinvestors: Coatue led (Partners Rahul Kishore and Lucas Swisher). Altimeter Capital, Andreessen Horowitz, the YC Continuity Fund, Spark Capital, Greenbay Ventures and Neo participated. Details: This follows the trend of increased investment in European startups providing services that facilitate remote working. N26 Sector: Fintech HQ: Berlin, Germany Date: Oct 2021 Round: $900m Series E Coinvestors: Coatue co-led with Third Point Ventures. Details: This was the largest financing round to date for a digital bank in Europe. It valued the company at $9bn, placing it among the top 20 fintechs in the world by valuation. MoonPay Sector: Crypto HQ: Malta Date: October 2021 Round: $400m Coinvestors: Tiger Global. Silverflow Sector: Fintech HQ: Amsterdam, the Netherlands Date: October 2021 Round: €35m Series B Coinvestors: None. Credit: Gorillas Gorillas Sector: Food HQ: Berlin, Germany Date: March and September 2021 Round: $290m Series B (March) and $950m Series C (September) Coinvestors: DST Global, Tencent, Greenoaks Capital Partners, Dragoneer and Atlantic Food Labs in the Series B. Delivery Hero, DST Global, Tencent and A* Partners in Series C. Details: The Series B gave Gorillas the title of fastest European tech company to reach unicorn status ever. It has, however, hurtled into plenty of challenges as a result of that hyper-growth, as this Sifted investigation revealed. Synk Sector: Cybersecurity HQ: London, UK Date: March 2021 and September 2021 Round: $300m Series E (March), $530m Series F (September) Coinvestors: Accel, Tiger Global, BlackRock, Temasek, Boldstart Ventures, Canaan Partners, Salesforce Ventures and more (across both rounds). Detail: Snyk is now one of the most valuable cybersecurity companies in the world, private and publicly listed. Choco cofounders: Julian Hammer, Rogério Da Silva Yokomizo, Daniel Khachab Choco Sector: Food HQ: Berlin, Germany Date: July 2021 Round: $100m Series B Coinvestors: Bessemer, Insight, Left Lane Capital GoStudent’s leadership, Alfons Priessner (COS), Felix Ohswald (CEO), Laura Warnier (CGO) and Gregor Müller (COO). GoStudent Sector: Edtech HQ: Vienna, Austria Date: March 2021 and June 2021 Round: €70m Series B (March), €205m Series C (June) Coinvestors: Coatue led the Series B, existing investors Leftlane Capital and DN Capital participated. DST Global led the C, with participation from SoftBank, Tencent, Dragoneer and existing investors including Coatue, Left Lane and DN Capital. Details: The Series C made GoStudent Europe’s second edtech unicorn in a year and Austria’s second unicorn. Commerce Layer Sector: SaaS HQ: Prato, Italy Date: June 2021 Round: €13.5m Series B Coinvestors: Benchmark and Mango Capital Portal One Sector: Gaming HQ: Oslo, Norway Date: April 2021 Round: $15m seed Coinvestors: Talis Capital, Seedcamp, Signia Venture Partners, Founders Fund, Rogue Venture Partners, TQ Ventures and previous investors SNÖ Ventures. Causal Sector: SaaS HQ: London, UK Date: April 2021 Round: $4.2m seed Coinvestors: Accel, Passion Capital (and more). Jean-Charles Samuelian, CEO and cofounder of Alan. Credit: Vinciane Lebrun / Voyez-Vous Alan Sector: Healthtech HQ: Paris, France Date: April 2021 Round: €185m Series D Coinvestors: Coatue led the round, with participation from Index, Temasek, Ribbit, Dragoneer and Exor. Details: Health insurance app Alan doubled its members in the 12 months leading up to this raise and made €100m in revenue. Cofounder and CEO Jean-Charles Samuelian told Sifted the company would use the new funding to launch more free apps around specialist health needs (like new parents and mental health) and continue growing in its newer markets — Spain and Belgium. Hopin Sector: SaaS HQ: London, UK Date: March 2021 Round: $400m Series C Coinvestors: Northzone, Tiger Global, General Catalyst, Andreessen Horowitz, Salesforce Ventures, DFJ Growth and Institutional Ventures Partners. Details: Just a year after launching its online events software, in March 2021 Hopin landed a $5.65bn valuation and became the hottest startup in Europe. Just five months later, it raised another $450m in funding, led by Arena Holdings and Altimeter Capital, at a $7.75bn valuation. Coatue did not participate in that later round. Supplant Sector: Food HQ: Cambridge, UK Date: February 2021 Round: $15m Series A Coinvestors: Y Combinator, Felicis Ventures, Khosla Ventures and Manta Ray Ventures Wolt Sector: Food HQ: Helsinki, Finland Last round: January 2021 Round size: $530m Coinvestors: ICONIQ led the round. Other participating VCs included EQT Group, KKR, Prosus, Tiger Global, Vintage Investment Partners, DST Global, Goldman Sachs, Highland Europe, 83North and EQT Ventures. Details: Food delivery giant Wolt ramped up the gears this year, raising a big round in January to help it crack the grocery delivery market. Founder Miki Kuusi told Sifted at the time that Wolt wasn’t as interested in ‘dark stores’ as some of its competitors and would instead focus on working with grocery partners. Rapyd Sector: SaaS HQ: London, UK Date: January 2021 Round: $300m Series D Coinvestors: Tiger Global, General Catalyst, Target Global (and more) Checkout.com Sector: Fintech HQ: London, UK Date: Jan 2021 Round size: $450m Series C Coinvestors: led by Tiger Global, with participation from Greenoaks Capital. Coatue participated alongside other existing investors including Insight Partners, DST Global Blossom Capital, Endeavor Catalyst, and Singapore’s GIC. Detail: Coatue first invested in Checkout.com in its $150m Series B in June 2020. Eleanor Warnock is Sifted’s commissioning editor. She tweets from @misssaxbys. Amy Lewin is Sifted’s deputy editor. She covers VC, foodtech and diversity in tech and tweets from @amyrlewin. 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