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About the Firm

RJR Asset Management conducts independent research, diligence, and deal origination across public and private markets.

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We look for opportunities that are idiosyncratic, contrarian, or structurally advantaged. Our approach combines the liquidity and compounding potential of public markets with the optionality and asymmetric outcomes available in private markets.

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RJR Asset Management does not manage outside assets or provide services to the general public.

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Investment Focus

We look for businesses and investment structures whose economics remain compelling when the narrative is stripped away. Durable cash flows, defensible advantages, aligned incentives, and disciplined governance matter more than category or consensus. Capital preservation comes first; asymmetric opportunity must earn the risk it introduces.

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Our research is grounded in public markets and extends selectively into private equity, growth equity, derivatives, and alternative investments. We treat liquidity, valuation, terms, and alignment as part of the investment itself, not secondary considerations.

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We study technological and structural change across critical infrastructure, market systems, AI, robotics, advanced engineering, biotechnology, cryptography, and decentralized networks. In every case, we test the thesis against the price and the opportunity against its role in the broader portfolio.

Selected Areas of Interest​​

Markets & Structures

  • Public markets: Listed equities, fixed income, credit, derivatives, and other exchange-traded structures.

  • Private markets: Direct and co-investments, private equity, venture and growth-stage businesses, and select external managers.

  • Special situations: Mis-priced complexity, changing capital structures, and opportunities created by structural or technical dislocation.

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Research & Investment Themes

  • Essential infrastructure: Power, energy, logistics, digital infrastructure, and the physical systems that support economic activity.

  • Royalties and transaction networks: Asset-light businesses with durable claims on production, distribution, data, or transaction volume.

  • Applied AI and automation: Technologies that improve productivity, lower costs, or reinforce an existing competitive advantage.

  • Advanced science and engineering: Robotics, space systems, nuclear technologies, biotechnology, and specialized industrial platforms.

  • Cryptographic and decentralized infrastructure: Exchanges, registries, settlement systems, and other networks where the infrastructure matters more than speculation.

Activity​

Completed in 2020:

  • (Series B Participant) Healthcare Therapeutic revolutionizing the way Cancer is discovered and treated

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Completed in 2021:

  • (Series C Participant) Digital Marketing SaaS using AI to transform digital marketing assets

  • (Seed Participant) Predictive Business Analytics platform for Software Development and Engineering

  • (Fixed Income Fund Selection) Short Duration, Municipals FI Fund

  • (Fixed Income Fund Selection) Short Duration, IG Corporates FI Fund

  • (Public Equity Investment Manager Selection) Technology Leaders Fund

  • (Public Equity Fund Selection) MegaCap Technology Fund Selection

 

Completed in 2022:

  • (Early Stage Venture Fund, First Close Participant) Early Stage Technology Fund with unique technology focus and orientation to Texas portfolio companies

  • (Series D Participant, Follow On) Digital Marketing SaaS using AI to transform digital marketing assets

  • (Series B Participant) AI Voice SaaS company delivering NLP/LLM models and technology for drive-through ordering​

 

Completed in 2023:

  • (Early Stage Fund of Funds Participant) Unique FoF which specializes in discovering and backing first time fund managers in a wide variety of sectors including, cyber security, deep sciences, and international.

  • (Fixed Income Fund Selection) Short Duration, Taxables & Corporates

  • (Early Stage Venture Fund Participant) Deep Technology and Biosciences Fund: Health Technology, Biological Platforms, Applied Robotics​

 

Completed in 2024:

  • (Public Equity Fund Selection) Technology Leaders Fund Selection

  • (Derivatives Strategy SMA Development) Selected Public Equity Derivatives Portfolio 

  • (Fixed Income Fund Selection) Medium Duration Corporates and Treasuries

  • (Public Market Derivatives Strategy Development) Deployed Public Market Options Strategies​

 

Completed in 2025:

  • (Public Equity Fund Selection) Follow On Tranche to Technology Leaders Fund

  • (Public Equity Fund Selection) International Fund

  • (Early Stage Venture Fund, First Close Participant) Engineering, Applied Robotics, Autonomous

  • (Derivatives Strategy SMA Development) Follow On Public Equity Derivatives Portfolio ​

 

Completed in 2026:

  • (Early Stage Venture Fund Participant) Deep Technology and Biosciences Fund: Health Technology, Biological Platforms, Applied Robotics

  • (Series G Participant) Healthcare Wearable/Tech

  • (Public Equity Fund Manager Selection) Global Value Fund (Contrarian, Hedge)

  • (Series A Participant) Photonic Laser Technology for applied sciences, defense, and semiconductor optimization

CONTACT US

We remain open to introductions, opportunities, and strategic inquiries each year. Appropriate outreach may include direct opportunities, private investments, manager introductions, partnership discussions, and other situations aligned with our areas of interest. 

For any inquiries, please call or email:

Raymond Duffy Jr.        |        203-570-5095        |        Ray@RJRAssetManagement.com 

Headquarters

Austin, TX

Alternatively 

You can fill in the contact form below and we will respond to your inquiry promptly:

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