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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
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"Hertford Capital is a founder-led European small and micro cap specialist pursuing overlooked opportunities with private equity-like return profiles."
Hertford Capital GmbH is a founder-led, bank-independent fund boutique established in 2018 and based in Stuttgart, Germany. Founded by Marc Bräutigam, who previously worked in investment banking across Frankfurt, New York, and London, the firm advises the Hertford Capital fund and serves a select group of co-investors with whom they maintain meaningful, long-term relationships. The firm's investment strategy is unconstrained, focusing on overlooked, misunderstood, or less liquid European small and micro caps. They pursue public equity opportunities with private equity-like return profiles and attractive risk-reward dynamics. The firm believes smaller companies present strong potential for outsized returns through early, concentrated investments in advantaged, financially healthy businesses with proven capital allocation that can drive significant shareholder value over the long-term. Their interests are strongly aligned with co-investors and the operators of the companies they invest in, with the purpose of compounding co-investors' wealth at high rates over the long-term through proprietary research.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
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