Joshua Young started his hedge fund less than a year ago. Last month, he caught a break when a university endowment handed him $20 million, quintupling his assets under management.
How did an obscure Houston fund called Bison Interests land such a big fish?
Young, all of 32, had set up a profile on SumZero, a website that started out as a repository for buy-side research and has more recently morphed into a mashup of LinkedIn and Match.com where institutional investors can find up-and-coming fund managers and choose them based on the quality of their analysis. Using SumZero, Young bypassed an old-boy network that prizes relationships, credentials and word-of-mouth referrals. The company says it has helped generate hundreds of introductions between the more than 12,000 fund managers with SumZero profiles and the 270 institutional investors now using the site, which include the family offices of several big tech executives.
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