Twinleaf Management LLC is a Connecticut-based Investment Adviser dedicated to constructing concentrated, separately managed client portfolios that consist of overlooked, out-of-favor, misunderstood or mispriced publicly traded US equities with under $2 billion of market capitalization. Our "sweet spot" is investing in sub-$1 billion companies. We consider our approach to resemble private equity investing in the public markets.
Our primary investment research is in technology, media and telecom. We are especially focused on the digital revolution in media and technology that is creating investment opportunities in mobile and IP connectivity, SaaS platforms, data analytics, content creation, distribution and highly targeted advertising. We seek to invest in "disrupters" with the potential to become very valuable companies or acquired before they get there.
Spencer Grimes has 17 years of private equity investing and investment analysis of public companies, primarily in the media and communications sector. He founded Twinleaf in January 2012. He began his career at Viacom, Inc. before moving to Wall Street. From 1996 to 2000 Spencer was an equity research analyst at Salomon Smith Barney covering the cable television industry. He was named an All-Star Analyst by The Wall Street Journal in 1999 with recognition for accuracy in earnings estimates and stock picking. In 2000, Spencer moved to Technology Media and Telecommunications sector-focused private equity and helped deliver a positive return for fund investors with the sale of a group of data centers for $100+ million in 2008. More recently, Spencer was a partner in Sequence LLC, a media software company that enabled content personalization and real-time ad insertion. It was sold to R.R. Donnelley (Nasdaq: RRD) in 2011. He also serves as an adjunct professor at the New School in New York, teaching a graduate-level Media Economics course.
Spencer holds a BA from the University of Virginia and an MBA from Emory University's Gouizeta Business School.
Technology is overturning the business pecking order