Riposte Capital

Khomeiny Farhad is the founder and chief investment officer. He makes all portfolio decisions directly, having previously traded healthcare equities at PointState Capital and Citadel. The firm operates with a lean team that supports Farhad's research and execution.

The firm runs a concentrated long/short equity strategy focused on healthcare and technology. The long book targets undervalued or misunderstood companies, while the short book often involves activist campaigns where Riposte publishes research alleging fraud or mismanagement. Public campaigns have targeted companies including MiMedx and Novocure.

Riposte relies on primary, forensic research conducted internally. Farhad and his team analyze financial statements, clinical trial data, and sales practices to identify discrepancies that suggest overvaluation or fraud. The firm then builds positions before publishing detailed reports to influence market perception, a model documented in coverage of its MiMedx short (per WSJ, 2019).

Riposte Capital is structured as an investment firm managing external capital, not as a single-family office. Farhad founded it as a professional asset management business in 2010, drawing on his experience at major hedge funds. The firm has not publicly disclosed its investor base.

Riposte's most prominent campaign involved MiMedx, a wound-care company that ultimately restated several years of financial results following a series of short-seller reports including Riposte's. The firm has also publicly challenged Novocure's business practices. More recently, in early 2023, Riposte took an activist stake in ViewRay to push for operational changes.