Former Sequoia Capital executive Jeff Wang’s tech hedge fund, Augnition Global Investors, has raised $1 billion.

On October 20, according to Bloomberg, Augnition Global Investors, a technology hedge fund founded by former global equities head Jeff Wang of Sequoia Capital, announced it has raised more than $1 billion. According to disclosed regulatory filings, the fund launched with at least $570 million in capital, approximately 45% of which was internal capital.

Jeff Wang led Sequoia's global equities business for a decade. During his tenure, he participated in investments in late-stage private companies including ByteDance, SpaceX, Stripe, and Airbnb. Augnition Global will primarily invest in public and private technology companies.