# Affinity Capital Management

Affinity Capital Management is an Asset Manager based in Minneapolis, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Minneapolis, United States
- **Region:** North America
- **Address:** Minneapolis, MN, United States
- **Founded:** 1994
- **Assets under management:** Undisclosed
- **Website:** affinitycapital.net

## Regulatory record

- **Reports private funds:** No

## About

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.

## Sectors

- Private Credit
- Real Estate

## People

- Donald M. Schupp — Managing Partner

## 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.

### 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.

## Related profiles

- [Advantage Capital](https://altss.com/profile/advantage-capital)
- [WPA](https://altss.com/profile/wpa)

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Last updated: 2026-06-03T20:00:00.000Z

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