9AT: ACORN CAPITAL ADVISORS, LLC

other names

ACORN CAPITAL ADVISORS, LLC

Adviser Profile

As of Date	06/24/2025
ADV Location	NEW YORK, NY, United States
Adviser Type - Large advisory firm
Number of Employees	5
of those in investment advisory functions	5
Registration	SEC, Approved, 04/16/2021
Other registrations (2)	SEC, ERA - Withdrawn, 03/17/2021 New York, ERA - Withdrawn, 03/17/2021
Former registrations	ACORN CAPITAL ADVISORS, LLC

AUM^*	239,196,104 -3%
of that, discretionary	239,196,104 -3%
Private Fund GAV^*	239,196,104
Avg Account Size	119,598,052 -3%
SMA’s	No
Private Funds	3 1
Contact Info	212 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeVenture Capital Fund	Count3	GAV$239,196,104

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser GOEHRING & ROZENCWAJG ASSOCIATES, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund884.0k	Other Fund9.5m	Total Private Fund GAV11.3m	AUM726.2m	#Funds4
Adviser INTEGRA GLOBAL ADVISORS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund15.6m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV15.6m	AUM562.6m	#Funds8
Adviser ESO MANAGEMENT SERVICES LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund463.0m	Other Fund-	Total Private Fund GAV926.0m	AUM390.6m	#Funds6
Adviser SCHECHTER PRIVATE CAPITAL, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund166.8m	Other Fund-	Total Private Fund GAV333.6m	AUM171.7m	#Funds41
Adviser CMT ASSET MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund422.2m	Other Fund-	Total Private Fund GAV844.4m	AUM491.4m	#Funds19
Adviser AWM CAPITAL, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund1.5m	Securitized Asset Fund-	Venture Capital Fund107.3m	Other Fund256.3k	Total Private Fund GAV216.4m	AUM1.5b	#Funds12
Adviser ARTIST CAPITAL MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund390.6m	Other Fund-	Total Private Fund GAV781.2m	AUM195.1m	#Funds17
Adviser LEWIS & CLARK PARTNERS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund371.6m	Other Fund-	Total Private Fund GAV743.2m	AUM264.1m	#Funds9
Adviser PALM DRIVE CAPITAL LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund376.4m	Other Fund-	Total Private Fund GAV752.8m	AUM376.4m	#Funds32
Adviser BLOCKCHANGE MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund900.7m	Other Fund-	Total Private Fund GAV1.8b	AUM880.7m	#Funds31

Brochure Summary

Overview

Description of Advisory Firm and Principal Owners. Acorn Capital Advisors, LLC (the “Firm” or “Acorn”), based in New York, NY, was formed in 2017 by Anders Hove. Mr. Hove retains 99.9% ownership in the firm and 100% ownership of its affiliate, Acorn Capital Advisors GP, LLC, the General Partner to the firm’s private fund client s. Acorn provides investment advisory services for the investment of private capital in pooled investment vehicles, Acorn Bioventures, LP and Acorn Bioventures 2, LP (collectively, the “Funds”), which are exempt from registration under the Investment Company Act of 1940, as amended (the “1940 Act”) and whose securities are not registered under the Securities Act of 1933, as amended (the “Securities Act”). The Firm’s advisory clients are the Funds, both limited partnerships formed in Delaware, and an affiliate of Acorn serve as the General Partner. The limited partners of the Funds are either accredited or qualified investors, and limited partners of the Funds are referred to in this Firm Brochure as “investors” or “limited partners”. Type of Advisory Services. Acorn provides investment advisory services to the Funds, which operate as healthcare small cap public/private equity investment vehicles, with a focus on the biopharmaceutical sector (“public venture capital”). The investment strategy seeks to exploit valuation inefficiencies due to differences in investment

approach and time horizon from traditional public biotech investors by selectively making concentrated investments in companies which have significant valuation dislocation, often caused by clinical or regulatory issues. The Funds invest the majority of their capital in public securities and will make opportunistic late-stage private investments as well. Client Tailored Service and Client Imposed Restrictions. The Firm’s services are designed to achieve the investment objective of the Funds. Acorn will only make investment recommendations that are consistent with the stated objectives, strategy and investment guidelines of the Funds as set forth in the Funds’ private placement memorandum, limited partnership agreements and applicable side letters with limited partners, if any. Wrap Fee Programs. A wrap fee program is an investment program where the investor pays one stated fee that includes management fees, transaction costs, fund expenses, and any other administrative fees. Acorn does not participate in any wrap fee programs. Regulatory Assets under Management (“RAUM”). As of December 31, 2023, Acorn managed approximately $246,624,703.00 of private Fund client assets, all of which are managed on a discretionary basis. The RAUM includes the estimated fair market value of the assets, cash on hand, and remaining capital commitments of the Funds as of December 31, 2023.

ACORN CAPITAL ADVISORS, LLC

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