Manager Profile

Spencer Grimes

Spencer Grimes
Spencer Grimes brings 22 years of private equity investing and investment analysis of public companies, primarily in the media and communications sector, to the founding of Twinleaf in 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 TMT-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 and was sold to R.R. Donnelley (Nasdaq: RRD) in 2011.  He currently serves as an adjunct professor in the New School's Media Management graduate program and was a member of the board of directors of two publicly traded companies, Truett-Hurst, Inc. (THST) from 2017-2019 and The Meet Group, Inc. (MEET) from 2018-2019.  

Spencer applies a research-driven, private equity-type approach to TMT investing in the public markets. Combining an investment in a misunderstood, out-of-favor and undervalued company with patience to allow the thesis to play out often yields a successful investment.  He spends his days speaking with company management, industry sources and other portfolio managers, reading SEC filings, product evaluations and customer reviews and thinking about M&A possibilities. He is a passionate and knowledgeable student of TMT and small-cap investing, industry trends, capital markets, fundamental analysis and macro events.

Spencer holds a BA from the University of Virginia and an MBA from Emory University's Gouizeta Business School.