Whale Rock Starting Fund With Focus on Private Tech Firms (1)

Alex Sacerdote’s hedge fund is betting on private technology companies.

Whale Rock Capital Management is starting a hybrid fund that will invest as much as 80% of its capital in private firms and the rest in publicly traded entities, according to a letter to investors seen by Bloomberg.

It’s also allowing investors in its other funds to increase the amount they’ve earmarked for privates. Investors in its flagship and long-only funds now can opt to invest 25% of their assets in private deals versus 15% previously, according to the letter.

“Over the last 5-plus years, we have been strengthening ...