Full Sea Capital

Concentrated Growth in Public Equities

Our Philosophy Get in Touch

Investment Philosophy

01

Contrarian Conviction

We find asymmetric risk-reward profiles in small cap companies the market has overlooked or misunderstood. Our approach: deep fundamental analysis, concentrated positions, and the patience to let our thesis play out.

02

Operational Lens

Operating experience informs our investment analysis. We understand the mechanics of building and scaling durable businesses and apply that lens to everything we do.

03

Patient Capital

We take multi-year positions in companies undergoing transformative change. Patient capital deployed with conviction generates outsized returns.

Performance

90%+
Annualized Return Since Inception
"
There is a tide in the affairs of men
Which, taken at the flood, leads on to fortune;
Omitted, all the voyage of their life
Is bound in shallows and in miseries.
On such a full sea are we now afloat,
And we must take the current when it serves
— Julius Caesar, William Shakespeare
Founder & Managing Partner

Matt Miller

Matt Miller is the founder and managing partner of Full Sea Capital, where he uses deep fundamental analysis and an operator's lens to achieve best in class returns in small cap public equities.

Before launching Full Sea, Matt founded and led Embroker as CEO, raising over $140M and building one of the innovators shaping the future of insurance. Prior to Embroker, Matt was a Principal at Hellman & Friedman and a Vice President at Bain Capital.

Matt graduated summa cum laude from Duke University and earned an MBA from the Stanford Graduate School of Business, where he was an Arjay Miller Scholar.

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