Manager Profile

Spencer Grimes

Spencer Grimes
Spencer Grimes brings 20 years of private equity investing and investment analysis of public companies, primarily in the media and communications sector, to the founding of 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 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 also serves as an adjunct professor at the New School in New York, teaching graduate-level courses in Media Economics and Finance and Accounting for Media Managers.

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.  In May 2017, he was elected to the board of directors of Truett-Hurst, Inc. (THST), a publicly traded wine company based in Sonoma County, California.