Daniel Senft, former senior stock-picker at Coatue Management, has raised $2.5bn for the launch of his new firm NX1 Capital, marking one of the largest hedge fund debuts in recent years, according to a report by Bloomberg.

The equities-focused long-short fund began trading this month, targeting technology companies poised to lead in AI, robotics, and autonomous driving.

NX1, which raised capital from foundations, endowments, and tech entrepreneurs, is operating independently, with no revenue-sharing arrangements or backing from larger firms. The fund employs a multiyear lockup structure and integrates AI and data science into its investment process, with humans retaining final decision-making authority.

Senft, 46, departed Coatue in 2024 after more than 15 years, having led early successful bets on Meta and Tencent. The 35-person NX1 team includes a mix of portfolio managers, engineers, and data scientists, reflecting the firm’s tech-driven approach.