1. Adi Joseph (A.J.)Noronha
ajnoronha@gmail.com 25 E. Delaware, #307 Chicago, IL 60611 304.444.9538
EXPERIENCE
EquityResearch&PortfolioCommittee, DesaiCapitalManagement January 2013 - Present
Conducted independent, fundamentally driven equity research, performed due diligence, and generated potential
investment theses under the guidance of an experienced portfolio manager & CFAcharterholder
Focus on fundamental-based, long-term value investing, helping firm achieve70%+ cumulative returns and
consistently create alpha vs. indexbenchmarks since inception (data through December 2016)
Ranked as #15 (LTM) overall analyst and #33 All-time Value category by SumZero (December 2016)
Independent research on Dow Chemical (NYSE: DOW) was rated as one of SumZero’s top ideas of 2015, with
realized return of 34.7%, 181.4% IRR, and 29.3% alpha vs. benchmark at time of exit (Data: SumZero;
https://sumzero.com/headlines/industrials/DOW/293-dow-chemical-is-the-fastest-appreciating-blue-chip-around)
Independent PE/VCdue diligence & strategicwork October2013–Present
Currently advising CEO of a multinational investment firm on early-stage opportunities
Helpedleadduediligenceon multipleclosed&pendingprivateinvestment dealsincludingmobile, biomedical, real
estate,retail,&media. Actively worked with management of selected companies on various strategic issues to create
value. Two companies have received subsequent funding at a 20x and 6x+ multiple since our investment
Worked withpartners at a VC/PE fund to help develop & commercialize multipleportfoliocompanies
Co-founder & acting CEO, Citrics Biomedical March 2008- March 2014
Co-founded early-stage biomedical company with Northwestern professor during final semester of law school
Developed overall business strategy, taking the companyfrom concept to a viablebusiness
Received significant national recognition from numerous business plan competitions (pleaseseeHonors)
InvestmentAnalyst,Mountaineer Capital May 2003-August 2006
Responsible for initial due diligence on over 100 potential VC/PEinvestmentsacross a broad range of
industries using both qualitative and quantitative analysis, leadingto several successful investments
Created valuation models for investments using DCF modeling, comparable analysis, & precedenttransactions
Worked directlywith senior management of portfolio companieson various strategic issues
Summer Associate, Ocean Tomo (leading intellectual capital merchant bank) Summer 2007
Worked with Investments team regarding potential IP asset-based investment strategies
Investment Analyst, University of Notre Dame,Applied Investment Management Class Fall 2002
Responsible for coverage & investment recommendations on selected U.S. equities. Focus on fundamental-driven
value investing for student-managed $2.5MM U.S. equity portfolio under guidance of University CIO
EDUCATION
NorthwesternUniversity School of Law, Juris Doctor (Dean’s List) August 2005-May2008
Concentration in Business Enterprise; MBA-level coursework taken at the Kellogg School of Management
Awarded the John HenryWigmore Scholarship (most prestigious merit scholarship and nearly full tuition)
University of NotreDame, Bachelor of Business Administration (Magna Cum Laude) August 1999-May2003
Finance & Business Economics, minor in Accountancy; GPA: 3.84/4.0 within major; 3.71/4.0 cumulative
Dean’s List, seven out of eight semesters; Notre Dame Scholar Award (top 10% of incoming freshmen)
HONORS
Winner, Nanotechnology& NewVentures Competition
Finalist, Chicago Biomedical Consortium &Notre DameMcCloskeyBusiness Plan Competitions
Winner, Harvard Book Award
Finalist,Universityof Chicago Booth School of BusinessVentureCapitalInvestmentCompetition
Foundingteam & Advisory Board, Chicago International Social Change Film Festival
The President’s Volunteer Service Award, Gold level (national-level award from the White House)
Semifinalist & top 75 Up-and-Comer, ChicagoInnovation Awards:
LEADERSHIP ACTIVITIES; OTHER SKILLS & CERTIFICATIONS
Candidate for CFA Level III exam; Successfully passed CFA Level I (6/15) & Level II (6/16) exams on 1stattempt
Candidate Member, CFA Society of Chicago; Member, Professional Development Advisory Board
Junior Board, Catholic Charities of the Archdiocese of Chicago
President and Co-Founder, Association for Private Equityand Entrepreneurship Law(APEEL)
Judge, Chicago Startup Weekend; Judge, Notre Dame McCloskey Business Plan Competition
Northwestern UniversitySmall Business OpportunityCenter Clinic (now Entrepreneurship Law Center)
Mentor, Kellogg School of Management Medical Innovation course, Notre Dame Irish Entrepreneurs
Participated in John C. Maxwell leadership training: Master Mind, Learn to Lead, Think & Grow Rich
Co-Captain,VPROilerssemi-professionalbasketballteam
Networking Committee, Notre Dame Club of Chicago; Member, Northwestern Club of Chicago