About
The firm
Lemma Capital gives you access to proprietary, institutional-grade research and investment opportunities in companies reshaping the global economy. We combine human expertise with data and agentic AI to identify the leaders best positioned to capitalize on long-term technological trends — helping you navigate increasing complexity and capture the upside of innovations that define our future.
The product
Simply put, we study global economic and technological processes and apply an open framework to identify future winners. We present our findings as equity investment opportunities — research notes that include:
Our investment thesis,
Target company information
Expected return estimates,
Downside and risk analysis,
And supporting economic data.
By subscribing, you can take advantage of these opportunities through your individual or corporate investment account opened with a licensed broker-dealer. To make sure our insights deliver true value, we invest in the same opportunities we present to you.
With a free subscription, you’re limited to receiving our occasional public notes. To get full access to research, opportunities, strategy, portfolio structure, and a community with private discussions and live events, upgrade to a paid subscription (you can always unsubscribe in one click).
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The investment framework
Our investment strategy is built on the observation that the best risk-adjusted returns are found in companies that maintain high growth rates over their lifetimes. This is typically achieved through continuous innovation, which requires an unusual concentration of employee and leadership talent under one roof.
When talent concentration reaches a certain level, innovation begins to compound and eventually translates into unique customer value, driving the company into a state called “hypergrowth”. Oftentimes, this dynamic creates a protective moat — a durable defense against ever-present competition that extends the company’s runway for expansion.
Identifying and holding positions in hypergrowth, or hypercompounding, companies with long expansion runways is at the core of what we do.
The research
Our research content generally falls into one of the following buckets:
Primers/Updates: detailed studies of how something — an industry, a technology, or a company — works. Primers are first looks, and Updates cover changes in the underlying facts, mechanics, or our perception of the subject. This is “first principles thinking” applied to investment research.
Stories: case studies of corporate, technological, or scientific breakthroughs, pivots, or blow-ups that teach us valuable investing and business lessons.
Numbers: collections of economic and financial data we find insightful and relevant for investment decision-making, coupled with “so what” wrap-ups.
Perspectives: analysis and projections of powerful trends impacting millions of workers, consumers, and organizations, with implications for our strategy.
“Future Value” episodes: engaging conversations about the future with scientists, engineers, entrepreneurs, and investors: what’s actually coming, and how to prepare for it.
Notes: Lemma Capital news and announcements, as well as occasional short commentaries on what’s happening in technology and financial markets right now, and why it matters for smart investors.
Investment Opportunities: clear public or private equity investment theses that pass our rigorous filtering. The ultimate deliverable.
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The team
Alex Pisanov | Founder & CEO. Alex is a former COO at e184 (US biotechnology accelerator), IR Director at Draper X (co-investment unit of Draper Associates, an early investor in Tesla, SpaceX, Coinbase, Colossal Bio, etc.), and Head of Investment Banking at IIDF (the largest early-stage VC fund & accelerator in Eastern Europe). He lives in Buenos Aires, Argentina, with his wife and two kids. You can reach him on LinkedIn or by email at a.pisanov@lemmacap.com
Disclaimer
For informational and educational purposes only. This is not investment advice. This is not an offer to buy or sell, or a solicitation of an offer to buy or sell, any securities. Neither Lemma Capital LLC nor its affiliates holds positions in the securities mentioned unless otherwise stated.
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