Tim Gong, Managing Director of SIG Asia Venture Capital Fund, is reportedly planning to leave SIG and potentially start his own fund. This move comes as SIG begins to disband its China venture capital team. Gong, who has been with SIG since 2006, has overseen investments in over 260 companies, including a notable early investment in ByteDance. SIG's $6 million investment in ByteDance for a 15% stake is now valued at approximately $90 billion, marking one of China's most successful angel rounds. Gong has also been active in the Web3 sector, leading a $40 million financing round for ByteTrade and serving as its chairman.