KRANE CAPITAL MANAGEMENT

Michael Krane, the firm's founder and Chief Investment Officer, serves as the sole portfolio manager. He launched the firm in 2011 after a career in sell-side equity research covering healthcare services. All investment decisions — public and private — run through him, and the firm does not employ a separate investment committee.

Krane operates a single portfolio that holds both publicly traded equities and pre-IPO positions in healthcare companies. The firm treats every investment as a multi-year holding regardless of its listing status, which means it can hold a position through an IPO rather than exiting at the lockup expiry. Confirmed positions have included Oak Street Health, Progyny, and Waystar.

Healthcare services and adjacent technology remain the firm's primary domain, where most of its confirmed positions sit. Krane has occasionally invested in fintech and enterprise software companies that touch healthcare reimbursement or provider operations, but it does not operate a generalist mandate. It explicitly avoids biotech, medical devices, and early-stage drug development.