$2bn tech-focused hedge fund SoMa Equity Partners to shutter
San Francisco-based hedge fund SoMa Equity Partners is winding down after returning capital to investors, bringing the curtain down on a technology-focused equity manager that once oversaw more than $4bn in assets, according to a report by Business Insider. The report cites regulatory findings and unnamed people familiar with the matter as revealing that the firm, founded in 2016 and led by…
San Francisco-based tech-focused hedge fund SoMa Equity Partners is closing its operations after returning capital to investors, according to Business Insider. The firm, once managing over $4 billion in assets, was founded in 2016 by former Apex Capital chief investment officer Gil Simon. The reasons behind the shutdown remain undisclosed, but Simon confirmed the end of the firm in a LinkedIn post, stating it marked the "end of an era."
SoMa Equity Partners had reportedly not commented on the matter. The investment strategy of SoMa Equity Partners centered on technology companies, leveraging the San Francisco base as an advantage in identifying opportunities within the sector. Regulatory filings reveal significant positions in major tech firms such as Nvidia, Amazon, and Alphabet.
Assets had declined from their 2021 peak of over $4 billion. Notable investors included the foundation of Google co-founder Larry Page and Citigroup's corporate pension, as per data from Old Well Labs.
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