The cofounder of a $1.4 billion tech fund is going it alone

Seth Wunder, the cofounder of $1.4 billion Contour Asset Management, has left the firm and is in early stages of planning a new hedge fund.

Wunder left Contour Asset Management in June and co-founder David Meyer has taken over his duties, according to a regulatory disclosure.

The New York hedge fund focuses on long and short stock investments in tech, media and telecoms companies.

Wunder is in the early stages of prepping a new hedge fund, Black and White Capital, in Los Angeles, according to three people familiar with the matter who declined to be named because the info is private. Wunder did not immediately respond to requests for comment.

Contour’s assets have recently dropped by about 6.7%, from $1.5 billion at the start of 2015 to $1.4 billion as of January 1, according to
Hedge Fund Intelligence’s Billion Dollar Club ranking.

A spokesman for Contour declined to comment.

NOW WATCH: 50 Cent will pay $23.4 million to creditors over the next 5 years —  here’s how he made and lost millions

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.