[SIG China's Head Tim Gong Plans to Resign or Start His Own Venture, Previously Bet on ByteDance in Angel Round] According to The Information, Tim Gong, Managing Director of SIG Asia Investment Fund, is preparing to leave SIG and may establish a new fund. Meanwhile, SIG is gradually dissolving its venture capital team in China. Since 2006, Tim Gong has led SIG's investments in China, backing over 260 companies, including Home Inn, Country Style Cooking, Musical.ly, Himalaya, and Agora. Among these, the most notable case was an early-stage investment of approximately $6 million in ByteDance, holding about 15% equity. When ByteDance's valuation reached approximately $600 billion, the paper return was estimated to be around $90 billion, regarded as one of the highest-return angel rounds in China's primary market.