Delafield Hambrecht Partners Fund is a private investment fund that invests primarily in under-valued, under-followed publicly traded companies located in the Pacific Northwest. It was launched in May 2003. Many of the companies in which the Fund is interested have been researched and banked by Delafield Hambrecht, Inc. (DHI), an investment management firm headquartered in Washington State. Initially, the Firm built corporate finance and institutional brokerage capabilities in the vein of traditional investment banking boutiques. However, structural changes in the market for sell-side research convinced executives at DHI that a commission-based approach to generating first class research was no longer viable. DHI launched Delafield Hambrecht Partners Fund to internalize its research and to take advantage of investment opportunities. In December 2005 DHI closed its institutional brokerage business to concentrate on asset management. The Fund is controlled by DH Partners, LP, which, in turn, is wholly-owned by DHI.