The firm, founded in 1989 and based in Palo Alto, California, offers money management services and long-term investments for high-net-worth and institutional investors. It operates as a private investment firm, conducting original and fundamental research to identify investment opportunities. Some of the popular industries it invests in include semiconductor and biotechnology. The firm has a track record of making lead investments and has a preference for startups that are 4-5 years old. Notable portfolio startups include Deem, NewLeaf Symbiotics, and SkyPilot Networks.