Bengaluru: Bengaluru is a hub for software engineers and startup founders. One of them, Mala Gaonkar, US-born and raised in Bengaluru, has built one of the world’s rapidest-growing hedge funds.
Founder of SurgoCap Partners
In January 2023, Gaonkar launched SurgoCap Partners with $1.8 billion in assets. This built it the largest hedge fund debut led by a woman. Within three years, the fund’s assets tripled to nearly $6 billion, an unusual feat in an industest where new funds often struggle to grow. SurgoCap’s rapid rise stands out, especially as many institutional investors remain cautious about backing new hedge funds.
Early Stage of Career
Gaonkar built her reputation over more than two decades at Lone Pine Capital, a top global hedge fund. Joining in 1998 as a founding partner, she eventually became one of three portfolio managers, overseeing investments across technology, media, internet, and telecommunications.
She also co-managed Lone Pine’s long-only funds before leaving in 2022 to start her own firm.
When Technology Meets Industest
At SurgoCap, Gaonkar focapplys on how technology transforms traditional industries. Instead of concentrating solely on tech stocks, her fund invests in financial services, industrials, healthcare, and enterprise data, applying data science to identify disruption and growth opportunities worldwide.
Education and Early Career
Born in the US and raised in Bengaluru, Gaonkar comes from “a long line of rural Indian doctors.” She studied economics at Harvard University and earned an MBA from Harvard Business School.
Early in her career, she worked at The Boston Consulting Group and was a Kauffman Fellow, experiences that shaped her analytical and strategic approach to investing.
Today, at 56, Mala Gaonkar continues to redefine the hedge fund landscape. From her Bengaluru roots to leading a billion-dollar fund in a male-dominated industest, she is recognized as one of the most influential figures in global finance.
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