SoMa Equity Partners Shuts Down $2 Billion Tech Hedge Fund

Founder Gil Simon announced the firm’s closure on LinkedIn, describing the decision as the "end of an era" while signaling interest in future ventures. The fund, established in 2016, had previously secured backing from high-profile institutions, including Citigroup’s corporate pension and the foundation of Google cofounder Larry Page. Despite the firm’s exit, the broader landscape for tech-focused stockpickers remains robust; data from PivotalPath indicates that managers in the technology, media, and telecommunications sectors have seen average gains of 19% through August of this year.

Regulatory filings reveal that the manager's assets had been on a downward trajectory since peaking in 2021. While the specific reasons for the shutdown remain undisclosed, the firm’s departure marks a significant shift for a manager that once aimed to capitalize on its geographical proximity to Silicon Valley tech giants. Neither Simon nor representatives for SoMa provided immediate comment regarding the final transition.