SoMa Equity Partners to return investor capital as tech hedge fund winds down
San Francisco-based SoMa Equity Partners is winding down and returning capital to investors after a decade in the market. The tech-focused hedge fund has managed roughly $2 billion, while its assets have fallen from a peak of more than $4 billion in 2021, according to regulatory filings cited in the report.
Highlights
- SoMa Equity Partners is shutting down and returning capital to investors after assets dropped from over $4 billion in 2021.
- The firm, launched in 2016, held major positions in Nvidia, Amazon, and Alphabet, and counted high-profile backers like Larry Page's foundation and Citigroup's pension.
- SoMa's closure contrasts with strong 2023 TMT hedge fund performance, with the average peer up 19% through August per PivotalPath.
Closure plan and fund background
As first reported by Business Insider, SoMa Equity Partners is shutting down and sending money back to investors, citing three people close to the manager. The reason for the closure is not clear, and the firm as well as founder Gil Simon do not immediately respond to requests for comment.SoMa launched in 2016 and positioned itself as a technology-focused investor based in San Francisco. Regulatory filings show the manager's largest holdings have included Nvidia, Amazon and Alphabet, while Simon describes the move on LinkedIn as the "end of an era."
In the same post, Simon thanks the firm's team, investors, partners and friends, and signals that a new venture may follow. He writes that he is excited for what comes next.
Market context and investor implications
Available filings indicate SoMa's assets have declined in recent years after topping more than $4 billion in 2021. Data compiled by Old Well Labs show the fund at one point counts Larry Page's foundation and Citigroup's corporate pension among its backers.The closure comes during a strong period for many technology-focused hedge funds. According to PivotalPath, the average manager investing in technology, media and telecommunications companies is up 19% through the end of August, suggesting SoMa's wind-down does not reflect broader weakness across the sector.
Our earlier article on bullish options positioning in U.S. equities described how record-level index futures were paired with narrow market breadth, yet traders continued to price in new highs. We highlighted elevated call activity in SPY and QQQ and strong upside bets in major tech names such as Meta Platforms and Intel, signaling expectations of continued near-term strength despite uneven participation.
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