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Affinity Capital Management
Affinity Capital Management is a venture capital firm that invests in private companies across various stages of development. The firm focuses on health care...
Affinity Capital Management
Affinity Capital Management is a venture capital firm that invests in private companies across various stages of development. The firm focuses on health care investments, particularly in medical device, biotech, health care service, and health care information technology sectors. Affinity Capital Management was founded in 1993 and is based in Minneapolis, Minnesota, with a focus on investing in companies in the United States, particularly in the Upper Midwest.
General information
Firm type
Asset Manager
Year founded
1994
Location
Region
North America
Country
United States
City
Minneapolis
Corporate office
Minneapolis, MN, United States
Principals
Donald M. Schupp
Managing Partner
Sector focus
Frequently asked questions
Who runs investment decisions at Affinity Capital Management?
Donald M. Schupp is the Managing Partner and established the firm in 1994. Public filings consistently list Schupp as the sole portfolio manager for the firm's strategies. He built the firm around his expertise in structured credit, and no other named investment personnel appear in the firm's public disclosure record.
What investment approach does Affinity Capital Management take with mortgage-backed securities?
The firm runs a fundamental, loan-level credit analysis process rather than trading on macro duration calls. Affinity historically concentrated on agency MBS, non-agency RMBS, and asset-backed securities, favoring short-duration structures. The strategy sources securities directly, avoiding the passive replication that defines large fixed-income index products.
Why did Affinity Capital Management close its mutual fund in 2025?
In March 2025, the ACM Dynamic Income Fund (ACFOX) was reorganized into a CAMBRIA ETF, effectively ending Affinity's presence in the 1940 Act mutual fund space (per SEC filings, March 2025). The move suggests a deliberate exit from the overhead of daily liquidity and retail distribution, likely to refocus on separate accounts for institutions and private funds.
Does Affinity Capital Management invest outside the United States?
The firm's documented holdings and strategy disclosures indicate a nearly exclusive focus on domestic U.S. structured credit markets — primarily agency and non-agency mortgage-backed securities, U.S. consumer asset-backed securities, and related short-duration instruments. No non-U.S. origination or trading desk has been identified.
How is Affinity Capital Management different from other structured-credit boutiques?
The firm's longevity — continuous operation since 1994 — and its narrow focus on securitized credit without diversifying into high-yield, leveraged loans, or private corporate credit set it apart. The 2025 decision to shutter the mutual fund and retreat from registered products highlights a structural preference for institutional mandates over asset-gathering through retail channels.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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