Balyasny Asset Management is raising $350m for its first-ever dedicated venture capital fund, marking a strategic push into growth-stage enterprise tech startups, according to a report by PitchBook citing sources familiar with the matter.
The fund, Atlas Growth LP, which is being raised under BAM Corner Point, a newly created affiliate, is led by Rashmi Gopinath, formerly a General Partner at B Capital specialising in enterprise software investments, and Kristin Baker Spohn, who previously oversaw healthtech investments as a GP at CRV.
Balyasny’s move follows a broader trend among major hedge funds — including Point72 Asset Management, D1 Capital, and Tiger Global — which have aggressively expanded into private market investing over the past decade.
The $22bn multi-strategy firm started raising the fund in January 2025, according to a person familiar with the effort and regulatory filings.
The venture fund will focus on AI, data infrastructure, healthtech, and cybersecurity — areas where enterprise adoption is accelerating and valuations remain competitive.
Founder Dmitry Balyasny has long believed that the largest hedge funds would eventually deepen their involvement in venture capital, both to enhance returns and to sidestep capital constraints in traditional hedge fund strategies.
Balyasny Asset Management has previously invested in select startups through its existing funds, but Atlas Growth LP represents its first standalone venture strategy.
The firm is leveraging its hedge fund expertise in technology investing, particularly in AI, to identify promising startups. BAM Corner Point is also working closely with Balyasny’s portfolio managers to evaluate deals, a person familiar with the plans said.
Rather than adopting a broad-based approach, Gopinath and Baker Spohn plan to maintain a more concentrated portfolio, aiming to differentiate Atlas Growth LP from larger venture firms that deploy capital across a wider range of deals.
