The managing director is reportedly preparing to depart and could launch a new fund after overseeing more than 260 investments, including an early ByteDance bet that became one of China's standout angel deals.
SIG Asia Investment Fund managing director Tim Gong is reportedly preparing to leave SIG and may start his own fund as the firm begins disbanding its China venture capital team. Gong, who has been with SIG since 2006, has overseen investments in more than 260 companies. Those include an early ByteDance investment in which SIG put in $6 million for a 15% stake, a position now valued at about $90 billion and widely seen as one of China's most successful angel rounds. Gong has also been active in Web3, leading a $40 million financing round for ByteTrade and serving as its chairman.