Overview
                                    
                                    
                                        
                                            A. Description of the Advisory Firm  
Acuta Capital Partners, LLC (“Acuta” or the “Firm”), a Delaware limited liability company formed in 
July of 2011, provides investment management services to the Clients, as defined below.   Acuta is 
principally  owned  by  Anupam  Dalal.  Anupam  Dalal  serves  as  the  Managing  Member  and  Chief 
Investment Officer. Scott Smith is the Chief Compliance Officer and Chief Operating Officer of Acuta.  
Acuta  provides  investment  management  services,  directly  or  through  its  affiliates,  to  several 
privately-offered pooled investment vehicles (the “Funds”).  
B. Types of Advisory Services 
Acuta  provides  investment  advice  and  management  to  the  following  privately  placed  investment 
funds (the “Funds”): 
1. Acuta  Opportunity  Fund,  LP,  a  Delaware  limited  partnership  (“Acuta  Opportunity 
Fund”); 
2. Acuta  Capital  Fund,  LP,  a  Delaware  limited  partnership  (“Acuta  Capital  Fund”  and 
together with Acuta Opportunity Fund, the “Domestic Funds”); and 
3. Acuta Capital  Offshore Fund, Ltd., a  Cayman Islands exempted company  that acts as a 
feeder fund to Acuta Capital Fund (“Acuta Capital Offshore”).  
Acuta Capital Offshore pursues its investment activities by investing all or a substantial portion of its 
assets in Acuta Capital Fund in a mini-master/feeder structure.  Acuta Opportunity Fund and Acuta 
Capital Fund generally invest on a side-by-side basis. 
The Clients seek to achieve capital appreciation by profiting from market inefficiencies using a value-
oriented, absolute return approach.  Acuta attempts to achieve superior risk-adjusted investment 
results over time through the successful implementation of Acuta’s investment philosophy.   
There can be no assurance that the Clients will achieve this objective or that substantial losses will 
not be incurred.  Please see Item 8 below for a more detailed description of the investment strategies 
pursued by the Clients and applicable risk factors. 
The Funds offer interests (the “Interests”) to certain qualified investors as described in the response 
to  Item  7  below  (investors  in  the  Funds,  including prospective  investors,  are  referred  to  herein  as 
“Investors”). 
C. Client Tailored
                                        
                                        
                                             Services and Client Imposed Restrictions 
Advisory services are tailored to achieve the Clients’ investment objectives as described more fully 
in each Fund’s offering memorandum and governing documents (the “Constituent Documents”).  
Generally, Acuta has the authority to select which and how many securities and other instruments to 
buy or sell without consultation with the Clients or their Investors.  
With  respect  to  the  Funds,  Acuta  does  not  tailor  its  advisory  services  to  the  individual  needs  of 
Investors and Investors may not impose restrictions on investing in certain securities or types of 
securities.    Each  Fund’s  offering  memorandum  and  other  Constituent  Documents  set  forth  such 
Fund’s investment strategy, including guidelines regarding the types of securities the Fund will invest 
in and portfolio limits and Investors generally do not have the right to specify, restrict, or influence 
their Funds’ investment objectives or any investment or trading decisions.  
In certain cases, Acuta has entered into side letter agreements with certain investors in the Funds 
(“Side Letters”) establishing rights under, or supplementing or altering the terms of, the Constituent 
Documents of the applicable Fund.  Acuta may enter similar agreements in the future.  Such Side 
Letters may cover many different topics, including without limitation: modified fee terms including 
fee  waivers  and  reductions,  the  right  to  receive  certain  special  allocations,  modified  notice  or 
reporting requirements, and certain other matters relating to an investment in the applicable Fund.  
Acuta tracks all Side Letters that have been entered into with respect to each Fund to ensure that no 
investors are materially disadvantaged by the triggering of one or more provisions of a Side Letter.  
Once  invested  in  a  Fund,  Investors  generally  cannot  impose  additional  investment  guidelines  or 
restrictions on such Fund.   
D. Wrap Fee Programs 
Acuta does not participate in wrap fee programs. 
E. Regulatory Assets Under Management 
As of December 31, 2023, Acuta manages $244,228,617 in regulatory assets on a discretionary basis.  
Acuta currently does not manage any assets on a non-discretionary basis.