D1 Capital Partners is an American

investment firm An investment company is a financial institution principally engaged in holding, managing and investing securities. These companies in the United States are regulated by the U.S. Securities and Exchange Commission and must be registered under t ...

based in

New York City, United States New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...

. The firm invests in both

public In public relations and communication science, publics are groups of individual people, and the public (a.k.a. the general public) is the totality of such groupings. This is a different concept to the sociological concept of the ''Öffentlichkei ...

and

private Private or privates may refer to: Music * " In Private", by Dusty Springfield from the 1990 album ''Reputation'' * Private (band), a Denmark-based band * "Private" (Ryōko Hirosue song), from the 1999 album ''Private'', written and also recorde ...

markets globally.

Background

D1 Capital Partners was founded in July 2018 by Daniel Sundheim. "D1" stands for "Day One," a concept espoused by Amazon.com, Inc.'s

Jeff Bezos Jeffrey Preston Bezos ( ;; and Robinson (2010), p. 7. ''né'' Jorgensen; born January 12, 1964) is an American entrepreneur, media proprietor, investor, and commercial astronaut. He is the founder, executive chairman, and former preside ...

as detailed in Amazon's 1997 Letter to Shareholders. Sundheim was previously the

Chief Investment Officer The chief investment officer (CIO) is a job title for the board level head of investments within an organization. The CIO's purpose is to understand, manage, and monitor their organization's portfolio of assets, devise strategies for growth, act as ...

Viking Global Investors Viking Global Investors is an American-based hedge fund based in Greenwich, Connecticut, which specialises in early stage and late stage ventures. History It was established in October 1999 by its CEO and risk manager, Ole Andreas Halvorsen, Br ...

and put in more than $500 million of his own money to start the firm. D1 Capital Partners is usually grouped with other Tiger Cub funds due to the firm being spun out from one. The firm originally managed $3 billion of capital, which rose to $20 billion by the end of 2020 with annualized returns of nearly 30%. D1 returned 60% in 2020. In January 2021, the firm lost $4 billion (20% of its capital) due to the

GameStop short squeeze In January 2021, a short squeeze of the stock of the American video game retailer GameStop () and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 ...

. As of April 2021, D1 had recouped about 90% of what it lost in January. In June 2021, the firm signed a 10-year lease to open another office in

Miami, Florida Miami ( ), officially the City of Miami, known as "the 305", "The Magic City", and "Gateway to the Americas", is a East Coast of the United States, coastal metropolis and the County seat, county seat of Miami-Dade County, Florida, Miami-Dade C ...

. In May 2022, It was reported that the fund lost 23% of it value since start of the year with its public equities strategy losing 44%.

Business Overview

D1 Capital Partners focuses on companies within the

consumer A consumer is a person or a group who intends to order, or uses purchased goods, products, or services primarily for personal, social, family, household and similar needs, who is not directly related to entrepreneurial or business activities. T ...

business services Corporate services or business services are activities which combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) ...

financial services Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...

healthcare Health care or healthcare is the improvement of health via the prevention, diagnosis, treatment, amelioration or cure of disease, illness, injury, and other physical and mental impairments in people. Health care is delivered by health profe ...

industrials Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of secondary sector of the economy. The term may refer to a ran ...

real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...

, and

technology Technology is the application of knowledge to reach practical goals in a specifiable and reproducible way. The word ''technology'' may also mean the product of such an endeavor. The use of technology is widely prevalent in medicine, science, ...

media Media may refer to: Communication * Media (communication), tools used to deliver information or data ** Advertising media, various media, content, buying and placement for advertising ** Broadcast media, communications delivered over mass el ...

and

telecommunication Telecommunication is the transmission of information by various types of technologies over wire, radio, optical, or other electromagnetic systems. It has its origin in the desire of humans for communication over a distance greater than that fe ...

sectors. Regarding the public markets, the firm invests in publicly traded equities and other related securities such as

equity derivatives In finance, an equity derivative is a class of derivatives whose value is at least partly ''derived'' from one or more underlying equity securities. Options and futures are by far the most common equity derivatives, however there are many other ty ...

and

convertible bonds In finance, a convertible bond or convertible note or convertible debt (or a convertible debenture if it has a maturity of greater than 10 years) is a type of bond that the holder can convert into a specified number of shares of common stock i ...

. It utilizes a global

Long/short equity Long/short equity is an investment strategy generally associated with hedge funds. It involves buying equities that are expected to increase in value and selling short equities that are expected to decrease in value. This is different from the r ...

strategy with a focus on medium to long-term returns. Regarding the private markets, the firm primarily focuses on taking later-stage, non-controlling stakes in companies in order to help them further expand.

Private Equity Funds

Notable venture capital investments

* Robinhood *

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* goPuff * Shippo *

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* Wise *

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* DriveNetsMeir Orbach (January 27, 2021)
DriveNets raises $208 million in series B round, attains unicorn status
Calcalist.

References

{{authority control 2018 establishments in New York City Financial services companies established in 2018 Hedge fund firms in New York City Investment management companies of the United States Privately held companies based in New York City Tiger Management Venture capital firms