Monashee Investment Management

Monashee Investment Management LLC is a Boston-based hedge fund founded in 2008 by Patrick O'Shaughnessy and Michael O'Shaughnessy. The firm specializes in a long/short equity strategy, primarily investing in publicly traded securities across various sectors. Their investment philosophy hinges on rigorous fundamental research to identify mispriced assets, aiming to generate absolute returns irrespective of broader market movements. Monashee's portfolio often features a concentrated selection of companies, reflecting high conviction in their chosen positions.

As a hedge fund, Monashee's operational model differs significantly from that of a venture capital firm. Their primary focus is on managing capital within public markets, utilizing strategies such as short selling and derivatives in addition to long positions in equities. Regulatory filings, such as their Form 13F submissions to the SEC, consistently demonstrate their engagement with liquid public securities. For instance, their Q4 2023 filing revealed managed public equity assets exceeding $1.5 billion, spread across approximately 41 distinct equity positions. This indicates a focus on established, publicly traded companies rather than early-stage private ventures.

Consequently, the concept of "first cheque size" – a standard metric for venture capital investments into nascent startups – does not apply to Monashee Investment Management's core business. They do not operate as an early-stage investor providing seed or Series A funding. While some hedge funds may occasionally participate in private investment rounds, these are typically later-stage or pre-IPO opportunities, and not analogous to the initial funding rounds provided by venture capitalists. Therefore, typical "check sizes" for venture capital investments are not a relevant or discoverable aspect of Monashee's investment strategy.