Meteora Capital, LLC, based in Delaware, started its operations in February 2021. The company's main objective is to achieve stable returns that do not depend on the performance of the stock market, focusing on exploiting inefficiencies in the financial markets.
The firm manages a Special Purpose Acquisition Company (SPAC) Strategy for its private investment funds, including Meteora Capital Partners, LP, and others. The general partner for these funds is Meteora Capital GP, LLC, owned by Vikas Mittal.
Meteora Capital offers discretionary investment advice to its clients, which include private investment funds and separately managed accounts or funds-of-one.
As of the end of 2022, the company managed roughly $592.8 million in regulatory assets for its clients.
During the period from March 2022 to July 2023, according to ADV forms, Meteora Capital, LLC's total assets under management (AUM) experienced a significant growth of 65%, increasing from $359.2 million to $592.8 million.
Concurrently, the firm expanded the number of managed accounts, which more than doubled from 4 to 10. Notably, this substantial expansion in AUM and client accounts was achieved while maintaining the same workforce size, with the employee count remaining constant at 10.
The firm also disclosed updates for its two private master funds:
METEORA SPECIAL OPPORTUNITY FUND I, LP
METEORA CAPITAL PARTNERS, LP