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

As reported by Bloomberg, tech hedge fund Augnition Global Investors, founded by Jeff Wang, former head of global equities at Sequoia Capital, announced it has raised over $1 billion. According to disclosed regulatory filings, the fund launched with at least $570 million in capital, approximately 45% of which was internal capital.