Wu says that, according to Bloomberg, hedge fund Coatue Management's former fintech head Michael Gilroy has partnered with Coinbase board member Gokul Rajaram to establish a new venture capital firm, planning to raise up to $500 million for its first fund. The two are in discussions with core investors, but formal fundraising will begin in 2025. The company will focus on investing in early-stage fintech and software startups in the United States and is currently unnamed.