Palo Alto-based hedge fund Sylebra Capital, led by ex-Coatue Management partner Daniel Gibson, delivered a 16.7% return in the first half of 2025, reversing a 7.8% Q1 loss and outperforming several high-profile peers in the tech-focused hedge fund space, according to a report by Bloomberg.
The sharp rebound was driven by aggressive long exposure to high-growth tech names including PureCycle Technologies and Aeva Technologies, which surged 98% and 440%, respectively, in Q2. Sylebra’s long book gained 58%, while its short positions declined 30%, according to sources familiar with the firm’s performance.
With $2bn in AUM, Sylebra focuses on deep-tech equities and maintains a concentrated long portfolio of about 35 stocks while running short positions across roughly 100 names – ranging from industrials to marquee tech giants like Nvidia, a surprising short amid its ongoing AI-driven rally.
Founded in 2011 by Gibson – a Tiger Grandcub and former lieutenant of Coatue’s Philippe Laffont – Sylebra’s H1 performance places it ahead of peers including Coatue, Lone Pine Capital, and Viking Global Investors.
The strong showing comes as tech stocks rebounded following early-year macro headwinds including tariff tensions and geopolitical risk, which temporarily dented risk appetite. The S&P 500 ended June at a record high, buoyed by a broader rotation back into growth.
