Eduardo Costa, a former director of research at JAT Capital, founded the Florida-based hedge fund Calixto Global Investors. In 2014, the hedge fund was established without any initial funding. Instead of going for a seed transaction, Costa explained, "We bootstrapped and built from the ground up, raising assets from friends and family and a few important investors." Calixto Global Investors, which he launched with a $25 million investment, now has assets worth over $300 million.
The hedge fund invests in small-caps but not micro-caps. Thus the strategy is still liquid. Eduardo Costa joined Shumway Capital Partners after receiving an MBA from Columbia Business School. His hedge fund focuses on unconventional investment strategies that provide investors a distinctive exposure, decrease the likelihood of trading simultaneously as its rivals, and often have less sell-side attention. Through June 2021, the fund gained 3.9% and returned 3.2% to investors. The hedge fund also had a very impressive 2020, with net earnings of 47% for the year.