Hedge Funds

Dot-commer plans activist hedge fund launch


Jared Polis, the multimillionaire who sold BlueMountain.com to Excite@Home for $780 million in 1999 and recently sold Provide Commerce, the operator of ProFlowers.com, to Liberty Media for $477 million, is now launching a hedge fund. Jove Capital is planned as an activist fund that will invest in small- and mid-cap companies in the consumer, media and technology sectors.

Polis, 29, who started BlueMountain.com while an undergraduate at Princeton University, believes he can unlock value in companies with stagnating or undervalued stock prices by working with management, reports Rocky Mountain News, a paper in Polis's home state of Colorado.