About Us
The Strategy
Sigmoid Capital is a female led Pan-Asia equity fund seeking to identify transformational businesses in Asia. "Sigmoidal Curve" means S-curve in mathematics , it represents the type of inflection potentials that we look for in our investments. The strategy is underpinned by long term, fundamental research.
Investment Approach
We look for S-shaped inflections in industry trends or in companies' earnings. We have found that Asian companies, particularly mid-sized Asian companies offer more inefficiencies. Knowing where to look for these mispricings and how to build convictions are key success factors for investing.
Our approach combines deep fundamental research, full value chain mapping, and cross-regional insights to uncover inefficiencies and to generate differentiated views that drive consistent alpha.
Our Team
Wendy Chen, Founder and CIO
Wendy Chen is the Founder, Chief Investment Officer, and Portfolio Manager of Sigmoid Capital. She brings more than a decade of experience investing across Asian equity markets with a focus on long/short strategies.
Prior to founding Sigmoid Capital, Wendy was Head of Asia at Kingdon Capital, a New York–based global long/short equity hedge fund, where she managed the firm’s Asia portfolio from 2013 to 2021. She began her career as an analyst at J.P. Morgan in Singapore and later at Morgan Stanley, covering Asian companies and building a deep on-the-ground network across the region.
Born and raised in Shanghai, Wendy is a native Mandarin speaker and fluent in English. She holds a bachelor’s degree from Fudan University and an MBA from Harvard Business School.
Paul Guggenheimer, CFO
Paul Guggenheimer is the Chief Financial Officer of Sigmoid Capital. He brings more than 15 years of senior finance leadership experience in Asia-focused long/short equity hedge funds.
Prior to joining Sigmoid Capital, Paul served as CFO of Kylin Management, a $2.5 billion AUM Asia long/short hedge fund based in New York, from 2005 to 2016. In this role, he oversaw all non-investment functions, including fund accounting, operations, compliance, and investor relations.
Paul began his career as an accountant at Price Waterhouse LLP. He holds both a bachelor’s degree and an MBA from New York University, and is a Certified Public Accountant (CPA) licensed in the state of New York.
Media and Content
- At 2024 Sohn HK conference , Wendy Chen shared she sees Japan as one of the most underappreciated turnaround stories in global equities — supported by the end of deflation, rising wages, moderate inflation, and sustained corporate governance reforms that could drive further rerating.
- She also discusses how Chinese consumer brands, especially EVs, are on track to gain significant global market share, and why overcapacity in China’s manufacturing sector could become a major headwind for growth and global trade balances.
- Finally, she touches on the evolving hedge fund landscape in Asia — highlighting the shift from beta-driven returns to true alpha generation — and how at Sigmoid Capital, the focus is on consistently delivering >5% alpha versus the MSCI Asia Pacific benchmark through disciplined stock selection and risk management.
In the 2025 Bloomberg interview, Wendy Chen discussed why she sees stronger opportunities in emerging markets and Asia compared with the US.
The key highlights are:
- The structural headwinds facing U.S. assets, particularly around debt and dollar strength.
- Why the next decade is unlikely to look like the last, when being long unhedged US assets was the winning trade.
- How diversification into Asia and EM offers compelling value, lower correlation, and stronger positioning.
- Why she currently views China as our top market, supported by the “three lows” — low valuation, low positioning and low correlation.
Contact Us
If you have any questions or would be interested in partnering, please send us an email. We will get back to you as soon as possible.
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