SIG gradually closed the Chinese venture capital team and retained the stock assets such as ByteDance

SIG, a US quantitative trading giant, is gradually closing its Chinese venture capital team, with the head and several employees expected to resign. Gong Ting is preparing to start another fund with the goal of raising at least $100 million. SIG retains a few employees to manage projects that have not yet exited, including ByteDance shares worth at least tens of billions of dollars, and continues to expand its market making business in China. Since 2005, SIG has entered into China's venture capital market and invested more than 350 companies in total. In 2012, SIG became the first institutional investor in ByteDance. Since 2023, SIG has completed nine investments in China.