SurgoCap debuts in largest ever female-led hedge fund launch
SurgoCap Partners, a new hedge fund founded by Maia Gaonkar, started trading on Tuesday with $1.8 billion under management, making it the largest ever debut of a female-led hedge fund, according to a report by Bloomberg.
The report cites unnamed sources as revealing that SurgoCap will employ data science to make both long and short stock investments around the theme of how technology can enhance other sectors including financials, industrials, health care and enterprise data. Up to 25% of the fund's assets can be invested in private companies.
SurgoCap's launch follows the October debut of another big female-led hedge fund, Divya Nettimi’s Avala Global, which began trading with more than $1 billion in committed cash. Both founders established themselves at larger firms before setting up their own funds – Gaonkar, 53, spent 23 years at Lone Pine Capital, while Nettimi previously spent seven years at Viking Global Investors