What stage does ThornTree Capital Partners invest at?

ThornTree Capital Partners invests at the Seed, Late Stage stages.

What sectors does ThornTree Capital Partners focus on?

ThornTree Capital Partners focuses on Sector Agnostic.

Where is ThornTree Capital Partners located?

ThornTree Capital Partners is headquartered in Boston, US.

ThornTree Capital Partners

Crossover fund

Boston · Seed–Late Stage · 14 people tracked

Also known as ThornTree · ThornTree Capital · THORNTREE CAPITAL PARTNERS LP

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Investment thesis

ThornTree Capital is a global, sector-agnostic long-short public equity manager that seeks stock-specific returns over multi-year time frames. It targets areas undergoing structural transformation driven by shifting consumer trends, technological innovation, and changing competitive dynamics. The firm evaluates businesses through a consumer lens, studying industry ecosystems to identify winners and losers. Its investment process rests on three pillars: the creation of unique consumer surplus, management cultures and resource allocation aligned with evolving demand, and grounded valuation based on reasonable assumptions. The firm emphasizes capital stewardship, deep diligence, candid debate, and transparency, aiming to compound returns while protecting investor capital.

Invests inSector AgnosticBoston George Town, Grand Cayman Global

Source: firm website, verified Oct 3, 2026.

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Stage

Seed–Late Stage

Boston, US

Founded

2016

AUM

$955.3M

Tracked investments

Unicorns

Team · 14 people

from the firm's website & public directories

Mark Moore· Managing Partner

Founder and Managing Partner of ThornTree with 22 years of investment experience. Previously a Senior Partner at Bain Capital Public Equity (Brookside Capital) over 15 years and a consultant at McKinsey. He holds an engineering degree from the University of Michigan and an MBA from Harvard Business School.

Mark C. Moore· General Partner

Philip· Senior Partner· Boston, Massachusetts, United States

Senior Partner with 16 years of investment experience. Formerly President and CEO of DTC grocery business Walden Local, and previously led internet, consumer tech, and communications sectors at Bain Capital Public Equity, with prior roles at Berkshire Partners and McKinsey. Holds a BS from University of Virginia and an MBA from Harvard Business School.

Philip Giampietro· Senior Partner

Senior Partner with 16 years of investment experience. Formerly President and CEO of DTC grocery business Walden Local, and before that led internet, consumer tech and communications sectors at Bain Capital Public Equity, with earlier roles at Berkshire Partners and McKinsey. He holds a BS from the University of Virginia and an MBA from Harvard Business School.

Mike· Managing Director

Managing Director with over 10 years of investment experience. Previously a Managing Director at Bain Capital Public Equity leading internet, media, and communications, and a founding Principal of Bain Capital Tech Opportunities, with earlier roles at Advent International and Bain & Company. Holds an MBA from Harvard Business School and graduated from Williams College.

Mike Smith· Managing Director

Managing Director with over 10 years of investment experience. Previously a Managing Director at Bain Capital Public Equity leading internet, media and communications, a founding Principal of Bain Capital Tech Opportunities, and earlier at Advent International and Bain & Company. He holds an MBA from Harvard Business School and graduated cum laude from Williams College.

Dave· Head of Investor Relations· Boston, Massachusetts, United States

Head of Investor Relations, previously Director of Marketing at Endeavour Capital Advisors and prior roles at Bogle Investment Management and Crosswind Investments. Holds a BS from University of Connecticut and is a CFA Charterholder.

Dave Curtiss· Head of Investor Relations

Head of Investor Relations and CFA Charterholder. Previously Director of Marketing at Endeavour Capital Advisors, Partner and Director of Client Service at Bogle Investment Management, and Head of Marketing at Crosswind Investments. He holds a BS from the University of Connecticut.

Kevin· Head of Capital Markets· Boston, Massachusetts, United States

Head of Capital Markets, previously Head Derivatives Trader at Highfields Capital Management and a Derivatives Trader at Balyasny Asset Management, starting his career at Bernstein. Graduated from Georgetown University with a BS in Business Administration, Finance and Economics.

Kevin Johnson· Head of Capital Markets

Head of Capital Markets, previously Head Derivatives Trader at Highfields Capital Management and a derivatives trader at Balyasny Asset Management, beginning his career at Bernstein. He graduated from Georgetown University with a BS in Business Administration, Finance and Economics.

Laura Spillane· Senior Executive Coordinator and Office Managerin

Senior Executive Coordinator and Office Manager. Previously an early childhood educator and founder of a small retail business. She earned a BA in Education from St. Nicholas College in Dublin.

Nick· Analyst· Boston, Massachusetts, United States

Analyst, previously a Senior Associate on the investment team at Harvard Management Company covering public equity, private equity, venture capital, and real estate. Graduated from Harvard College with a degree in Statistics.

Nick Sertl· Analyst

Analyst on the investment team. Previously a Senior Associate at Harvard Management Company focused on public equity, private equity, venture capital and real estate. He graduated from Harvard College with a degree in Statistics.

Jay Scollins· Executive Officer

What they invest in

from 1 of 1 portfolio companies

E-commerce ×1Retail Tech ×1SaaS ×1

HQs:Brazil×1

Investments · 1 tracked

founders shown can be your intro path

Nuvemshopnuvemshop.com.br in 𝕏Aug 2021

Nuvemshop is an e-commerce platform that lets brands build and customize online stores with a modular AI-integrated editor and prebuilt layouts.

E-commerceRetail TechSaaSBuenos Aires, BR

Santiago Sosa(Co-founder & CEO)inAlejandro Vázquez(Co-founder & President)inMartín Palombo(Co-founder & Chief Product Officer)inAlejandro Alfonso(Founder)José Abuchaem(Founder)Santiago Sosa (CEO)(Founder)

Co-investorsAccel Alkeon Innovation FirstMark Capital FJ Labs Harmony Partners IGNIA +8 more

Frequently asked questions

What stage does ThornTree Capital Partners invest at?: ThornTree Capital Partners invests at the Seed, Late Stage stages.
What sectors does ThornTree Capital Partners focus on?: ThornTree Capital Partners focuses on Sector Agnostic.
Where is ThornTree Capital Partners located?: ThornTree Capital Partners is headquartered in Boston, US.

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