New York-based investment firm Coatue Management's latest fund raised $331 million, 34% below its target. Coatue Management has participated in investing in crypto startups such as MoonPay, Chainalysis and Fireblocks. Three general partners at Coatue Management departed last year, including Luca Schmid, who led some of the firm's high-profile crypto and fintech investments. In addition, according to data from K33 Research, in the first quarter of this year, venture capital investment for Web3 companies decreased by 80% year-on-year.