Sahm Adrangi, the Investment Manager of Kerrisdale Capital, released a negative report seeking to explain why the firm has recorded a lower position in the Eastman Kodak Company, a commercial imaging and printing firm whose stock rose 187% after launching a partnership with Kerrisdale Capital. The manager said Eastman Kodak Company is literally flawed and thus incapable of providing substantive benefit for its shareholders. He further termed the company along with another firm by the name WENN Digital Incas firms, as firms with well-known dubious backgrounds. He accused Eastman Kodak Company of making hollow attempts to cover its unsustainable and ineffective capital structure. According to the investment manager, Kodak’s soon to be launched partnership will do little to save the firm from plummeting revenues, mounting default risk and negative free cash flow. The seasoned investment management professional promised to hold a press conference where he will release more details regarding the recent negative report.
Sahm Adrangi used to work as Longacre Fund Management’s Investment Analyst before launching Kerrisdale Capital Management. Longacre Fund Management is a privately owned firm with over $1.2 billion valuable assets under its management. Adrangi did investment analysis for the firm, in addition to researching for equity fund and credit fund on behalf of the firm. Before joining Longacre, he worked for Chanin Capital Partners, in the bankruptcy restructuring department. The investor advised creditors on bankruptcy restructuring. His work entailed attending bondholder committees, representing bank debt holders and representing creditors from various bankrupt and distressed companies. In addition to working for these two firms, Sahm Adrangi has worked for Deutsche Bank, where his role primarily entailed restructuring and syndicating non-investment bank debt, and leveraging buyout financings. He is a graduate of the Yale University, where he obtained a BA in Economics. His Kerrisdale Capital offers investment managing services, and it currently manages over $300 million. Based in New York, the firm shares its investment management ideas with the larger investment community via its official site.
Sahm Adrangi move to release the negative report regarding Eastman Kodak Company paints the firm in a truly negative light and thus its future could be ultimately uncertain moving forward.
Foresite Capital is a venture capital firm that assists future healthcare leaders to access capital. The firm has an interest in supporting both private and public healthcare companies that provide disruptive products and services to the general public. Jim Tananbaum founded the firm in the year 2011. Its offices are based in San Francisco and New York City.
Mindstrong Health is a startup company aimed at using smartphone technology to assist patients that suffer from neuropsychiatric disorders. The company’s management announced that the firm had received a Series-A round of funding of $14 million from Foresite Capital, ARCH Venture Partners, Optum Ventures and One Mind Brain Health Impact Fund. According to the company’s management, the funds will be used to develop a neurological-focused device.
According to Mindstrong Health CEO, this device will allow doctors to measure mental disorder objectively. Before the invention of the neurological device, doctors relied on subjective reports to analyze the state of mentally-ill patients. This gadget will be in a position examine the behavior and cognition of persons at a level that has been achieved before in this particular field. Mindstrong has developed an application that will be able to analyze a patient’s brain function through the patient’s patterns of typing and scrolling. Jim has supported this new invention by Mindstrong Health.
Jim Tananbaum Career Journey
Jim is the founder and CEO of Foresite Capital. Jim is responsible for developing the company’s organizational structure and investment strategy. The company has a capital base of $1.1 billion in assets. He has been in the healthcare business for more than 25 years. During this time he has facilitated formation and growth of many healthcare franchises.
Before starting Foresite Capital, Jim Tananbaum had also helped in the founding of two biopharmaceutical companies and two healthcare investment companies. Upon finishing Harvard Medical School, Jim founded GelTex Pharmaceuticals. This company performed well since it was able to purchase two drugs in the market. Jim was also the founder and CEO of Theravance, Inc (NASDAQ: THRX). Jim is also credited for founding Prospect Venture Partners II and III. Tananbaum was also the partner at Sierra Ventures.
Check out Foresite Capital’s Facebook page here.
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