Bart Stephens and Brad Stephens, the sons of Paul Stephens, co-founder of the former Robertson Stephens & Co. investment bank, have started their own long/short equity hedge fund. The duo opened up San Francisco-based Stephens Investment Management last year and recently launched their first fund, the Nanocap Fund.
The Nanocap Fund invests in smaller-than-microcap - hence the brothers' term 'nanocap' - companies, usually with an enterprise value of under $100 million. The fund also places an emphasis on the technology sector.
"We like the 'under the radar screen' companies," said Bart, which he says allows the pair to find undiscovered