# Masters Capital Management: portfolio, investments and team

> Masters Capital Management is a growth equity based in United States. 3 investments on record, latest Jun 2006. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/masters-capital-management (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Masters Capital Management

Last cheque observed Jun 2006. Silence since then is not evidence of inactivity: our sources miss unannounced rounds.

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Quiet Growth equity

Series B Series C Series D Internet Wireless

Cheques on record

**0%** of best year **0** **cheques in 12 months**, 3 on record

Since the last cheque **7435** days **00** hrs **00** min **00** sec

Median round **$42M** Rounds led **0 of 3**

Pitch Masters Capital Management

## Masters Capital Management highlights

- 01 3 rounds on record
- 02 Mostly Series B and Series C: 67% of its rounds

## What they do

- **Type:** Growth equity (from a list, unverified)
- **Cheque size:** Not stated
- **Sectors:** Internet Wireless
- **Based in:** Atlanta, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **3 appearances**

- **2006** 2 rounds
- **Jun** **[NeoPhotonics](https://millionrounds.com/company/neophotonics)** Series C · US **$75M** With 9 others
- **May** **[Cswitch](https://millionrounds.com/company/cswitch)** Series B · US · cswitch.com **$30M** With 7 others
- **2005** 1 round
- **Nov** **[Nanosys](https://millionrounds.com/company/nanosys)** Series D · US **$42M** With 15 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **4 named**

GS **Gregory Scott Pope** Chief Operations Officer i Form ADV

MW **Michael Willingham Masters** Managing Member and Chief Executive Officer i Form ADV

MD **Michelle Devault Dobbins** Chief Financial Officer i Form ADV

TJ **Timothy James Foster** Chief Compliance Officer i Form ADV

We also hold **19** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$805M** assets it manages Oct 2026

**Registered** investment adviser full reporting to the SEC

- **Legal name:** Masters Capital Management, L.L.C.
- **SEC number:** CRD 137605

Funds on its Form ADV

**4** private funds, **$648M** in gross assets · filed Mar 2024

- Marlin Fund, Limited Partnership *Hedge* 53 investors $325M
- Marlin Fund II, Limited Partnership *Hedge* 38 investors $259M
- Marlin Master Fund Offshore II L.P. *Hedge* $40M
- Marlin Fund III, Limited Partnership *Hedge* 1 investor $24M

## The cheque

Series B Series C Series D

Median round joined **$42M** the round, not its cheque

Led 0 of 3 rounds **0%**

- **Sole investor:** Never alone
- **Last cheque:** Jun 2006

Rounds by stage said on their site

- Series B *1*
- Series C *1*
- Series D *1*

Cheques by year Led Joined

2005 2006

Often in the room with

- [Harris & Harris Group](https://millionrounds.com/fund/harris-and-harris-group) 3
- [ATA Ventures](https://millionrounds.com/fund/ata-ventures) 2
- [Mitsubishi UFJ Capital](https://millionrounds.com/fund/mitsubishi-ufj-capital-co-ltd) 2

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## Who they invest alongside

The investors most often in the same rounds as Masters Capital Management. A count of rooms they were both in, not a relationship either has claimed.

[**Harris & Harris Group** Growth equity **3** rounds together](https://millionrounds.com/fund/harris-and-harris-group)[**ATA Ventures** Growth equity **2** rounds together](https://millionrounds.com/fund/ata-ventures)[**Mitsubishi UFJ Capital** VC firm **2** rounds together](https://millionrounds.com/fund/mitsubishi-ufj-capital-co-ltd)

## Quick answers about Masters Capital Management

### What does Masters Capital Management invest in?

Masters Capital Management invests most often at Series B and Series C (67% of the rounds on record), in sectors such as Internet and Wireless.

### How active is Masters Capital Management?

3 investments on record, 0 of them in the last 12 months. The most recent was in Jun 2006.

### How big are Masters Capital Management's cheques?

The median round it joins is $42M.

### Is Masters Capital Management investing now?

No investments in the last 12 months; the latest was in Jun 2006.

### Who does Masters Capital Management invest alongside?

Most often Harris & Harris Group (3 rounds together), ATA Ventures (2 rounds together) and Mitsubishi UFJ Capital (2 rounds together).

### What kind of investor is Masters Capital Management?

Masters Capital Management is a growth equity firm based in Atlanta, United States.

### How much does Masters Capital Management manage?

About $805M, as regulatory assets under management (Oct 2026).

### When was Masters Capital Management founded?

Masters Capital Management was founded in 1995.

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