Potrero Capital Research, LLC

Potrero Capital Research, LLC is a registered investment adviser based in San Francisco, CA, established in 2003 by Jack R. Ripsteen. The firm specializes in providing investment supervisory services to private investment funds and separately managed account clients. Potrero's investment strategy focuses on seeking long-term capital appreciation through investments in small capitalization companies, with the authority to buy or sell securities without client consultation. The firm manages approximately $381,898,000 in assets on a discretionary basis as of December 31, 2024. For clients, Potrero charges negotiable management fees, typically 2.0% annually for domestic funds and a performance allocation of 20% of profits. The firm may also receive a performance allocation from the Cayman Fund and separately managed account clients. Potrero does not participate in wrap-fee programs and manages client assets with discretion. Clients of Potrero include private investment funds and separately managed accounts, with minimum initial investments of $250,000 for one fund and $1,000,000 for another. The firm's investment strategy involves intensive research and value-oriented discipline to identify opportunities in small-cap equities. Potrero's investment philosophy includes a focus on long positions in small-cap equities and actively seeking short positions to hedge risks. Potrero has adopted a Code of Ethics to govern its employees' activities and has proxy voting policies in place. The firm does not receive economic benefits from third parties for advice rendered to clients and has no financial commitments that could impair its ability to meet contractual commitments. Potrero provides quarterly and annual reports to clients and investors, and its financial condition is deemed sound with no impairments likely to affect client commitments.