Principal & Managing Member

Adi is the founder and Managing Member of Alumina Partners, serving as our Chief Investment Officer and chairing the firm’s investment committee. He first became active with development stage private companies shortly after Y2K and spent several years working with a number of startups. In 2007 he began working with small-cap and emerging growth public companies, helping them to better identify and monetize market opportunities. Further honing an already sharp eye for valuation, Adi founded Alumina to prove that speculative finance need not be a zero-sum game between issuer and investor. In the emerging growth arena, where competition is over rapidly evolving and expanding pies, there should be enough room for the issuer, the institutional investor, and the retail shareholder to succeed together.

Our research department draws on both in-house experience and expert outside advisors to identify the most advantageous transaction structures available to the issuers we work with. Alumina’s equity research process is issuer-centric rather than purely risk-based, allowing us to work cooperatively with each issuer to explore and arrive at the most flexible and accommodative terms that will still offer equal benefit to both sides. Our team’s depth and breadth of experience are rare for the emerging growth space, reaching from structured products and exotic derivatives to venture incubation and private equity, and everything in between. We have particularly deep and broad expertise in the life sciences, tech, and emerging cannabis industries, and extensive experience with a range of growth-through-acquisition strategies among many others.

Our veteran position management team prides itself on bringing institutional desk access and comprehensive market intelligence to the emerging growth space. We make that access and intelligence available to issuers we work with, allowing them to draw on “floor look” which sometimes completes an otherwise incomplete puzzle, bringing the full picture into focus. That constructive, respectful approach to position management has been instrumental in building long-term relationships based on mutual trust.

Our origination team begins with the simple premise that consistent RSI — the relative outperformance of a stock as measured against its sector peers of similar development stage and market capitalization — is usually a sign that something positive is underway. From there we pull together a research abstract on each outperforming company and reach out to open a dialog. From our initial introductory call through transactions successfully closed and milestones passed down the road, we remain focused and engaged without compromising our objectivity as independent outside investors.