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D1 Capital Partners
D1 Capital Partners is an American investment firm based in New York City, United States. The firm invests in both public and private markets globally. BackgroundD1 Capital Partners was founded in July 2018 by Daniel Sundheim,[1] who is a minority owner of the Charlotte Hornets.[5] "D1" stands for "Day One,"[6] a concept espoused by Amazon.com, Inc.'s Jeff Bezos as detailed in Amazon's 1997 Letter to Shareholders.[7] Sundheim was previously the Chief Investment Officer of Viking Global Investors[8] and put in more than $500 million of his own money to start the firm.[9] D1 Capital Partners is usually grouped with other Tiger Cub funds due to the firm being spun out from one.[10] The firm originally managed $3 billion of capital, which rose to $20 billion by the end of 2020 with annualized returns of nearly 30%.[9] D1 returned 60% in 2020.[8] In January 2021, the firm lost $4 billion (20% of its capital) due to the GameStop short squeeze.[8] As of April 2021, D1 recouped about 90% of its loss in January.[9] In June 2021, the firm signed a 10-year lease to open another office in Miami, Florida.[11] In May 2022, It was reported that the fund lost 23% of its value since the start of the year, with its public equities strategy losing 44%.[12] In October 2024, it was reported that D1 gained 34% that year through September, after gaining 19% in 2023. D1 had made changes which included reducing its risk profile and increasing diversification of its investment coverage.[13] Business OverviewD1 Capital Partners focuses on companies within the consumer, business services, financial services, healthcare, industrials, real estate, and technology, media and telecommunication sectors. Regarding the public markets, the firm invests in publicly traded equities and other related securities such as equity derivatives and convertible bonds. It uses a global Long/short equity strategy focusing on medium to long-term returns.[14] Regarding the private markets, the firm primarily focuses on taking later-stage non-controlling stakes in companies to help them further expand.[15] Notable private investments include Robinhood,[16] GitLab,[17] Instacart[18] and DriveNets[19] References
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