Garelick Capital Partners is targeting an October launch.
Bruce Garelick, who served as the long/short technology portfolio manager at $16 billion Adage Capital Management from 2005 to 2011, is preparing a new tech hedge fund firm for an October launch.
Garelick Capital Partners is now raising money for its flagship Garelick Capital Partners Fund, which will employ a long/short tech strategy targeting low net exposure and a low correlation to the equity markets. The Boston-based fund will invest in highly liquid stocks globally, usually 50 to 60 positions at a time.
It was unclear how much capital the firm is hoping to raise. Garelick declined to comment.