Avantyr Capital Partners, the hedge fund launched by former Viking Global Investors Chief Investment Officer Ning Jin, is expected to surpass $1bn in assets at launch, making it one of the largest hedge fund debuts of the year, according to a report by Bloomberg.

The report cites unnamed sources familiar with the matter as revealing that the the New York-based, firm, which is gearing up to go live in in the fourth quarter of the year, is currently raising capital and is planning a second fundraising round in early to mid-2026. That round will target investors currently restricted by a non-solicit agreement between Jin and Viking, according to Bloomberg's sources.

A spokesperson for Avantyr declined to comment.

Avantyr joins a distinguished line of hedge fund startups led by alumni of Andreas Halvorsen’s Viking Global. Notable names include Dan Sundheim’s D1 Capital Partners, Ben Jacobs’ Anomaly Capital, Tom Purcell’s Alua Capital, and Divya Nettimi’s Avala Global.

Jin has already assembled a 17-person team, including nine investment professionals. Recent hires include Terrence Cheng, who joined in April as partner and managing director leading industrials research, and Adam Marcus, also a managing director, overseeing financials. The firm will initially focus on equities across sectors including technology, media, telecom, consumer, industrials, and financials.

Jin, 42, began his career at Viking in 2007, opening and leading the firm’s Hong Kong office before returning to New York in 2017. He was named co-CIO that year and became sole CIO in 2019.