Coatue Management has raised $331 million for its third fund focused on early-stage startups, according to a financial filing, a third less than its target and lower than its previous early-stage fund. The smaller than anticipated total shows how the firms that raised huge funds during the pandemic investing boom are falling short of their fundraising goals, taking longer to reach them or choosing to raise smaller funds as valuations for private tech companies sink. The New York hedge fund and venture capital firm, which previously placed successful early-stage bets on design company Figma and corporate card startup Ramp, planned to raise $500 million for its third early-stage fund by the end of 2022