A long-running, San Francisco-based hedge fund is closing down.
SoMa Equity Partners is returning capital to investors, three people close to the manager told Business Insider. The tech-focused stockpicker ran roughly $2 billion, regulatory filings show, and was run by onetime Apex Capital chief investment officer Gil Simon.
It’s unclear why the firm shuttered, though Simon wrote in a LinkedIn post Tuesday that it was the “end of an era.”
“So much love and appreciation for my SoMa fam, our investors, partners, and friends,” the post reads.
SoMa and its founder, Simon, did not immediately respond to requests for comment.
The fund, launched in 2016, believed it was “uniquely positioned both geographically and philosophically to identify and capitalize” on tech bets, according to its website. Regulatory filings show the manager’s largest holdings included some of the world’s largest companies, such as Nvidia, Amazon, and Alphabet, the parent of Google.
It’s unclear how the firm performed in 2026, but the manager’s overall assets have dipped in recent years after peaking at more than $4 billion in 2021, according to regulatory filings. Data compiled by institutional investor data provider Old Well Labs show that the firm counted billionaire Google cofounder Larry Page’s foundation and Citigroup’s corporate pension as backers at one point.
It’s been a strong year for tech stockpickers, as the average manager investing in technology, media, and telecommunications companies is up 19% through the end of August, according to hedge fund research firm PivotalPath.
In his LinkedIn post, Simon extolled the hard work of his small team and hinted at something new in the works.
“Excited for what’s next!” he wrote on LinkedIn.