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David Goel is a former subordinate of hedge fund tycoon Julian Robertson. He worked as a technology research analyst at Tiger Management for three years before leaving in 1999 to found a hedge fund company.Matrix Capital Management。

On Tuesday, August 20, Eastern Time, media reported that Goel decided to close the $11 billion company and return the funds to customers.

According to people familiar with the matter, Goel explained in a letter to customers that he had decided to shut down the company and return customers’ funds due to health issues. However, he did not disclose what the specific health issues were.

Matrix Capital Management was co-founded by Goel and Paul Ferri in 1999. As the company's co-founder and majority owner, Goel has the final say on all investment decisions and business affairs of the company. Compared with other "Tiger Fund" successors (hedge fund managers trained under Tiger Management founder Robertson), Matrix has a lower public exposure.

Matrix, based in Massachusetts, focuses on technology stocks and operates a private equity fund. Since its founding, Matrix's overall hedge fund performance has achieved solid double-digit growth despite four years of losses, including the 2008 financial crisis, the worst of which was in 2008, when the fund lost 39.5%.

Goel's investment strategy focuses on artificial intelligence, life science digitization, semiconductors, generative AI and machine learning. As of June 30, 2024, the company's top holdings include Nvidia, Qualcomm and TransDigm Group.

In addition to his achievements in the investment field, Goel is also known for his philanthropy. In 2019, he and his wife Stacy L. Goel donated $100 million to Harvard University to create the David E. and Stacy L. Goel Center for Creativity and Performance.