CTEK One Year Anniversary

CTEK turns one: a look at the first year

In May 2025, Coatue Innovative Strategies Fund (CTEK) launched as Coatue’s first tender offer fund — a hybrid vehicle giving qualified clients access to both public and private technology markets with a $50,000 minimum investment, quarterly liquidity, and 1099-DIV tax reporting. One year later, CTEK has reached $6.6 billion in net assets and ranks as the 7th largest tender offer fund in the United States, according to the Q1 2026 Stanger Closed End Fund Report.

The tender offer fund category CTEK entered

The interval and tender offer fund market crossed $251 billion in aggregate net asset value in Q1 2026 for the first time, according to Robert A. Stanger & Company — with tender offer funds specifically reaching $118 billion across 136 funds.

CTEK entered this landscape in May 2025 as a new category of fund: the only equity-focused, technology-specialist tender offer fund in the top 10 by net assets. Every other fund in the Stanger top 10 is categorized as PE & VC, infrastructure, or hedge funds. CTEK’s focus on AI and innovation-driven companies across public and private markets is a structural distinction in the category.

What CTEK was built to do: access to innovation across the company lifecycle

CTEK was built on a single thesis: technology investing should not be reserved for institutions alone. The fund gives qualified individual investors access to Coatue's 25-year track record of investing in innovation, spanning both public markets and late-stage private companies, within a single registered investment vehicle.

The fund's structure reflects that thesis directly. CTEK allocates between 20% and 50% of its assets to private holdings, with the balance in public equities. Its private portfolio includes positions in AI-focused companies and future-defining technology platforms. The fund does not require capital calls, issues a 1099-DIV rather than a K-1 for tax reporting, and offers quarterly liquidity windows subject to board approval.

Expanding distribution: CTEK joins iCapital Marketplace and CAIS

Over the past year, CTEK has expanded its reach through two of the largest alternative investment distribution platforms in the US. The fund is now available on both iCapital Marketplace and the CAIS platform, connecting eligible registered investment advisors and their clients with access to Coatue's technology-focused investment approach across public and private markets.

The additions reflect the broader industry shift toward platform-based distribution of alternative investments — and CTEK's growing presence across the wealth management ecosystem as it enters its second year.

Why the category is growing: the democratization of private markets

CTEK launched at an inflection point for the alternatives industry. One of the defining themes of 2025 was the broadening of the investor base for private market strategies, with continued growth of tender offer funds and evergreen structures attracting both wealth and institutional investors seeking periodic distributions and simpler tax reporting.

Companies are staying private longer. For many technology companies, the largest period of value creation now happens before they ever reach public markets. Tender offer funds like CTEK are designed to bridge that gap for accredited and qualified investors.

Fund facts: Coatue Innovative Strategies Fund (CTEK)

¹ $50K minimum investment refers to that for Class S and Class D.

² Repurchases may be subject to the 2% early repurchase fee.

*As of April 30, 2026. In addition, the Fund has net inflows of approximately $833M, as of May 1, 2026 subscription date.

Important disclosures

Although CTEK's shares are registered under the Securities Act of 1933, its shares will be sold only to persons or entities that are both “accredited investors,” as defined in Section 501(a) of Regulation D under the Securities Act of 1933, and “qualified clients,” as defined in Rule 205-3 under the Investment Advisers Act of 1940. The qualifications required to invest in CTEK are included in CTEK's subscription documents that must be completed by each prospective investor.

It is anticipated that under normal circumstances, CTEK will conduct repurchase offers of up to 5% of its net assets each quarter. CTEK's board may under certain circumstances elect to postpone, suspend or terminate a repurchase offer. The terms and conditions of a tender offer, including the applicable deadline for submitting repurchase requests, will be provided to investors in connection with such tender offer and filed with the SEC. No assurance can be given that repurchases will occur or that any shares properly tendered will be repurchased by CTEK. Due to these restrictions, an investor should consider an investment in CTEK to be of limited liquidity.

An investment in CTEK is speculative with a substantial risk of loss. Neither Coatue nor CTEK guarantee any level of return or risk on investments and there can be no assurance that CTEK's investment objective will be achieved.

Investors should carefully consider investment objectives, risks, charges and expenses of CTEK. This and other important information is contained in CTEK's Prospectus, which can be obtained from a financial professional or by clicking here. The Prospectus should be read carefully before investing.

CTEK's Prospectus does not constitute an offer to sell securities, nor a solicitation of an offer to buy its shares in any state where the offer or sale is not permitted. Neither the SEC nor any other state securities regulator has approved or disapproved of the securities described in the Prospectus or determined if the Prospectus is truthful or complete.

The Coatue Strategies Innovation Fund is distributed by Foreside Fund Services, LLC.

An investment in the Fund is speculative with a substantial risk of loss. You should carefully consider these risks together with all of the other information contained in this Prospectus before making a decision to invest in the Fund. The Fund has no operating history.

Shares are not listed on any securities exchange, and it is not anticipated that a secondary market for Shares will develop. Although the Fund may offer to repurchase Shares from time to time, Shares will not be redeemable at an investor's option nor will they be exchangeable for shares of any other fund. As a result, an investor may not be able to sell or otherwise liquidate his or her Shares. The Adviser intends to recommend that, in normal market conditions, the Fund's Board of Trustees conduct quarterly repurchase offers of no more than 5% of the Fund's net assets.

AI is an emerging technology and, as a result, is subject to a higher level of risk and uncertainty than more established industries/sectors. The AI Companies, including potential Coatue investments, could be adversely affected if AI adoption is slower, more limited or less successful than anticipated. Risks to the extent, pace and success of AI adoption include, but are not limited to the following: o The legal and regulatory landscape surrounding AI technologies is rapidly evolving and uncertain, including in the areas of intellectual property, cybersecurity, privacy and data protection. Compliance with new or changing laws, regulations or industry standards relating to AI may impose significant operational costs on AI Companies and may limit the extent, pace and success of AI adoption more generally. Failure to appropriately respond to this evolving landscape also may result in legal liability, regulatory action, or brand and reputational harm and have a material adverse effect on particular AI Companies in which Coatue may invest.

Demand for AI technologies will also depend on a number of other factors including, without limitation, the ability of AI Companies to produce AI-related products and services that create demonstrable efficiencies and cost-savings for their end-users; and the ability of end-users to make substantial investments in AI technologies.