SurgoCap Partners, an investment firm focused on the disruptive effects of technology across various industry sectors—such as finance and healthcare— began trading on the market on January 3, with $1.8 billion in assets under management. 

Founded in 2022 by Mala Gaonkar, an American of Indian descent, SurgoCap is the largest hedge fund led by a woman, according to Bloomberg. 

The SurgoCap story is part of a trend that has emerged in recent times: between 2021 and 2022, nine hedge funds led by women were launched. This is in an industry where, out of thousands of hedge funds, only 80 are managed by women, according to the Kresge Foundation, an organization that tracks diversity in management positions. Never before have there been so many launches in such a short period of time as in 2021–2022.