Oct 6, 2022By: Vaamanaa Sethi
Divya Nettimi is not just another successful person of Indian origin who has made a mark in the US. She is the first woman to have launched a hedge fund with over $1 billion in commitments. She made history by making it the largest launch by a woman-led firm, which is named Avala Global.
Investing is not new for the Harvard-educated Nettimi, who had managed the institute’s Alpha Fund before she stepped into the world of high finance.
Nettimi was also ranked in the Forbes list of ‘30 Under 30’ in finance in 2016, while she was investment analyst at Viking Global Investors. She earned her place in the list for – “influencing billions of dollars of stock investments at $30 billion hedge fund, focussing on the e-commerce and retail sectors.”
The 36-year-old Nettimi worked for seven years from 2014 to 2021 at Viking Global Investors, where she was a portfolio manager. Earlier, she was an associate at Goldman Sachs Investment Partners, where she worked from 2008 to 2012.
She did her bachelors in biomechanical engineering from Stanford University and later on pursued an MBA from Harvard Business School.
The firm will now bet on and against stocks in the consumer, business services and technology, media and telecom sectors and will also back private companies.
She has started her firm against many odds as equity markets have seen steep falls and volatility this year, making it very difficult for raising funds.
Market performance is not the only obstacle that Nettimi and other women face in the world of high finance. Even as there are thousands of hedge funds, only 80 are led by women, according to the Kresge Foundation.
Mala Gaonkar of SurgoCap Partners is also expected to launch her firm next year with $1 billion in commitments.