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This website is brought to you by the MIT Investment Management Company. MITIMCo's aim is to be an early partner to the world's best investment firms. The investment returns from these endeavors support MIT's mission of groundbreaking research and world class education.
This website is designed to create and collect useful resources for emerging manager stockpickers starting out. We are particularly interested in helping quirky, unconventional emerging managers who want to compound their own capital, and their partners' capital, at high rates. Those looking for information on a conventional path to becoming a fund manager will find better information elsewhere. We know from experience that it is possible, for the right exceptional person with the hunger, tenacity and investment acumen, to start out as a scrappy upstart and build a great firm. We have seen a meaningful number of people start out as a quirky firm with $5 million of AUM and little in the way of track record, and generate exceptional results at increasing scale for a long period of time. Our goal on this site is to share both inspiration and practical steps for newer firms who are looking to build something special. These start-up investment firms often "bootstrap" themselves because they do not have a track record or "pedigree" to raise much money, or are just unorthodox. So, we have made sure to include information about running your firm on a low budget
This website is a work in progress and we plan to make it a lot better over time. To do that, we want to feature more content from emerging manager stockpickers themselves, who have been in the trenches bootstrapping their firms.
Of course, MITIMCo works with a variety of different types of firms, not just stockpickers. We work with real estate investors, private capital and growth equity managers, venture capital firms, and hedge funds. This page is really only relevant to stockpicking emerging managers, however, who really can start with just a few million dollars of AUM and a 1 or 2 person shop. To learn more about MITIMCo's broader emerging manager activities, click the button below.
Starting a new fund requires a lot of hard work and dedication. As it should, to manage other people's savings. However, sometimes it seems needlessly opaque to learn how to approach setting up a fund, particularly for those who are not industry insiders. This site is not a comprehensive "how-to" guide, but seeks to lay out some of the pieces required to create a sustainable emerging stockpicking fund according to the "garden path" concept. My goal is to be a helping hand to those with the tenacity, passion, integrity, and investment acumen to be excellent investors. But please be advised of the challenges of what you are setting out to do, and be realistic about the probability of success. Please visit the "New Manager Challenges" page for some straight talk about the challenges involved. There is so, so much more to creating a successful firm than selecting service providers and creating a budget. If that challenge, excites you, please read on!
Finally, it is worth explicitly noting that this site assumes that if you are going to move forward, you already have the investment competency and skillset required to invest money professionally for other people. This site covers some of the operational, philosophical, and strategic aspects of being an emerging manager.
At critical moments in time, you can raise the aspirations of other people significantly, especially when they are relatively young, simply by suggesting they do something better or more ambitious than what they might have in mind. It costs you relatively little to do this, but the benefit to them, and to the broader world, may be enormous. This is in fact one of the most valuable things you can do with your time and with your life.