Hedge Fund Debuts in Biggest Launch Led by a Woman (1)

Mala Gaonkar’s SurgoCap Partners started trading Tuesday with $1.8 billion under management, the largest debut of a woman-led hedge fund in the industry’s history.

SurgoCap will use data science to invest around the theme of how technology can enhance other sectors such as financials, industrials, health care and enterprise data, according to people familiar with the matter. The firm, with about 20 employees, will bet on and against stocks and can invest as much as a quarter of its assets in private companies, the people said.

A representative for New York-based SurgoCap declined to comment.

Mala Gaonkar

Photographer: Andrew Harrer/Bloomberg

The launch follows ...