A brace of former Glencore and Goldman Sachs commodities traders have launched an oil and agriculture-focused hedge fund, as the market improves for the sector.

Founded in 2013, Tulos Capital launched to outside investors in February 2014. Led by Paul Schurman and Patrik Sundberg, the fund aims to raise around $500 million over the next few years. An event driven and volatility trading hedge fund, it will focus primarily on trading in agricultural commodities and oil, with options to expand into other sectors.