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This Tech Hedge Fund Made 10% Even as Stocks Tanked

(Bloomberg) A technology hedge fund founded by two alumni of Coatue Management rose 10 percent in March after steering clear of a selloff in global tech giants such as Facebook Inc. and Amazon Inc. Sylebra Capital Management’s $1.1 billion fund profited from both bullish and bearish investments in smaller tech companies, according to a person familiar with the matter, who asked not to be identified discussing private information. Half of Sylebra’s gains came from MuleSoft Inc., a U.S. software company that surged 42 percent in March after becoming a takeover target, the person said.

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