The firm, led by President and Chief Executive Russell Cleveland, is registered as an Investment Adviser under the Investment Adviser's Act of 1940. RENN Fund Inc, a closed-end management investment company, focuses on providing long-term capital appreciation by investing in privately placed convertible and equity securities of emerging growth companies traded on the United States securities exchanges. The fund invests in a variety of industries, including communication services, surgical and medical instruments and apparatus, telecommunications, crude petroleum, and natural gas and medical chemicals, and botanical products.