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Jacob Fund’s experienced investment team shares core values that support integrity, performance, innovation, and trust. Through hard work, open communication, and rigorous discussion, the team produces an abundance of data to help drive sound investment decisions.

Ryan Jacob
CEO, CIO & Portfolio Manager

Ryan Jacob is the Chairman and Chief Investment Officer of Jacob Asset Management, which he founded in 1999. He guides the investment team in developing financial models, conducting market research and selecting stocks. Ryan is the Chief Portfolio Manager for Jacob Forward ETF since inception in 2021. He also is the Chief Portfolio Manager for Jacob Internet Fund and Jacob Small Cap Growth Fund since both Funds’ inceptions in 1999 and 2010, respectively.

At age 29, Ryan was among the youngest individuals ever to launch a mutual fund – the Jacob Internet Fund. For two decades, he has been at the forefront of technology investing, navigating a period that included one of history's most profitable markets, as well as the downturns of 2002 and 2008.

A founding partner of Horizon Asset Management in 1994, a New York-based investment advisory firm, Ryan directed research and analysis for IPO Value Monitor during the period when Internet companies began to go public. In 1997 he took over portfolio management for The Internet Fund (currently Kinetics Internet Fund), one of the first funds focused on publicly-traded Internet companies, which he headed until 1999. From 1992-1994, he was an assistant portfolio manager at Banker’s Trust.

His philosophy embraces companies and industries that offer what he identifies as “game-changing” opportunities. In 2000, Crain’s New York Business named Ryan one of its “40 under 40,” stating “he stunned the investment world by turning the obscure Internet Fund into the top-performing mutual fund of 1998.” ii News, a publication of Institutional Investor, named him one of the Rising Stars of Mutual Funds in 2009.

Ryan is frequently quoted by the press for his insights into analyzing and assessing market opportunities for start-up companies as well as for established leaders across a broad mix of industries. He has appeared on CNBC, CNN, Bloomberg TV and Fox Business and has been profiled in Barron’s and Forbes and interviewed by nearly every major online and print business publication including The Wall Street Journal, The New York Times, Investor’s Business Daily, Smart Money, Business Week and Fortune..

Francis J. (Frank) Alexander
Portfolio Manager

Frank Alexander is Co-Portfolio Manager of both the Jacob Small Cap Growth Fund and Jacob Internet Fund. With over forty years of investment management experience, Mr. Alexander employs a value-oriented investing style, maintaining a long-term perspective and looking for companies with an enduring competitive advantage and a history of high returns on invested capital. Today, Mr. Alexander assists in the day-to-day management of the Jacob Internet Fund and the Jacob Small Cap Growth Fund.

Mr. Alexander began his career managing funds for trusts, foundations and charitable institutions, and continued with the launch of his own firm, Alexander Capital Management, in 1985. As a partner at Kinetics Asset Management, he became the Chief Portfolio Manager of one of the first Internet funds (The Internet Fund, now Kinetics Internet Fund) at its inception in 1996. He continued as a portfolio manager assisting Ryan Jacob when Jacob assumed responsibility as Chief Portfolio Manager of the fund at the end of 1997. Mr. Alexander was also a portfolio manager with Lepercq, de Neuflize & Co. Inc., from 1998 to 2002.

Concurrently, in 1999, Mr. Alexander assisted Mr. Jacob in founding Jacob Asset Management and launching a new mutual fund – the Jacob Internet Fund.

Darren Chervitz
Portfolio Manager & Director of Research

Darren Chervitz serves as the Chief Portfolio Manager of Jacob Discovery Fund as well as Co-Portfolio Manager of Jacob Forward ETF, Jacob Internet Fund, and Jacob Small Cap Growth Fund.

Darren graduated from Northwestern University's Medill School of Journalism with a double major in economics. He uses his investigative education and experience to ask the tough questions and find the most relevant information in search of the most compelling long-term investments. He has been extensively quoted by the media, including appearing as a guest host on CNNfn and CNBC.

Previously, Darren was one of the first employees at the online financial news organization that eventually became MarketWatch.com where he focused on initial public offerings and Internet stocks. He also delivered a daily market report on the morning news show for the local CBS-TV affiliate in San Francisco and was a regular technology analyst for ZDTV.

Hayden Cook
Equity Analyst

Hayden Cook is an equity analyst at Jacob Asset Management. A member of the investment team, Hayden identifies value for its portfolios and is responsible for sourcing and evaluating investment opportunities. Before joining Jacob Asset Management in 2013, Hayden worked with several financial planning and asset management firms, including UBS and Western Asset Management, where he gained experience in marketing, business development, web management, and strategic portfolio allocation.

Hayden received a Bachelor of Science in Business Administration, with a focus in Corporate Finance, from the Marshall School of Business at the University of Southern California. While a student, he was actively involved in his community, assisting local non-profits through Los Angeles Community Impact, a student consulting organization. Additionally, Hayden and several classmates founded a non-profit organization focused on reconnecting terminally ill patients with loved ones.

Alenoush Terzian
Alenoush Terzian
Director of Operations

Alenoush Terzian is the Director of Operations at Jacob Asset Management of New York, LLC, joining Jacob Asset Management in May 2021.

Prior to joining JAM, Alenoush served as Vice President of U.S. Bank Global Fund Services for ten years where she was responsible for managing a team in the Fund Administration Department. The team serviced a variety of mutual fund companies and administered their financial reporting, regulatory compliance, board reporting, and other matters. Alenoush also spent close to three years in the Tax Department of the public accounting firm of PricewaterhouseCoopers.

Alenoush earned a Master of Science degree in Accountancy from California State University, Los Angeles and a Bachelor of Arts Degree from University of California, Irvine.


Please note that the Jacob Funds referred to in this website are offered and sold only to United States residents, and the information on this website is intended only for such people. The Fund is not offered for sale in countries other than the U.S. and its territories. This website should not be considered a solicitation to buy or an offer to sell shares of the Jacob Funds in any jurisdiction where it would be unlawful under the securities law of that jurisdiction.
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Important Risk Information

Carefully consider the Funds' investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found by downloading the Mutual Funds Prospectus and ETF Prospectus or calling 888.522.6239 for a hard copy. Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal.

There are risks inherent in investing in the Internet area, particularly with respect to smaller capitalized companies and the high volatility of internet stocks.

Investments made in small and mid-capitalization companies may be more volatile and less liquid due to limited resources or product lines and more sensitive to economic factors.

The Internet Fund may invest in debt securities which typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in micro-capitalization companies may involve greater risks, as these companies tend to have limited product lines, markets and financial or managerial resources. Microcap stocks often also have a more limited trading market, such that the Adviser may not be able to sell stocks at an optimal time or price. In addition, less frequently-traded securities may be subject to more abrupt price movements than securities of larger capitalized companies. The Small Cap Growth Fund invests in smaller companies, which involve additional risks, such as limited liquidity and greater volatility.

The Jacob Forward ETF also has the following risks: Market or economic factors impacting information technology companies that rely heavily on technological advances could have a significant effect on the value of the Fund’s investments. The risks of investing in foreign companies, including those located in emerging market countries, can increase the potential for losses in the Fund and may include currency fluctuations, political and economic instability, less government regulation, less publicly available information, limited trading markets, differences in financial reporting standards, including recordkeeping standards, and less stringent regulation of securities markets.

The Fund is actively managed. An investment in the Fund is subject to the risk that the investment techniques and risk analyses applied by the Adviser will not produce the desired results. The Fund is a recently organized investment company with a limited operating history. Please see the Funds' prospectus for details of these and other risks.

Jacob Forward ETF has the same risks as the underlying securities traded on the exchange throughout the day. Redemptions are limited and often commissions are charged on every trade.

Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the funds. Brokerage commissions will reduce returns.

Diversification does not eliminate the risk of experiencing investment loss.

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