
Jeffrey Smith
Partner
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- Full Name
- Jeffrey Smith
- Title
- Managing Member, Chief Executive Officer, and Chief Investment Officer
- Firm
- Starboard Value LP
- Firm Type
- Activist investment adviser / hedge fund
- Investment Stage
- Public equities; activist campaigns in publicly traded companies
- Check Size
- Not publicly stated; recent reported campaigns include roughly $500 million in Autodesk and $1 billion in Pfizer
- Target Company Profile
- Deeply undervalued public companies where operational, governance, capital-allocation, or strategic changes can unlock shareholder value
- Sector Focus
- Public-company activism across technology, software, consumer, restaurants, healthcare/pharma, industrials, travel, and related sectors
- Geographic Focus
- Primarily U.S. public companies
- Location
- New York, NY
Background
The provided TPG/seed-angel stub could not be verified from public sources. The verified public investor matching this name is Jeffrey “Jeff” Smith of Starboard Value LP. Starboard’s official biography lists him as Managing Member, CEO, and CIO of Starboard Value LP.
Smith founded Starboard Value LP in 2011. Before Starboard, he was Chief Investment Officer for the Value and Opportunity investment platform at Ramius LLC, a Cowen Group subsidiary, where he was a Partner Managing Director. He joined Ramius in January 1998.
Earlier in his career, Smith was Vice President of Strategic Development and a board member at The Fresh Juice Company, Inc. He began his career in the mergers-and-acquisitions department at Société Générale. He graduated from the Wharton School at the University of Pennsylvania with a B.S. in Economics.
Investment Thesis & Focus
- Starboard describes its strategy as a “focused and fundamental approach to investing in publicly traded companies,” seeking “deeply undervalued companies” and actively engaging management teams and boards to unlock value.
- The firm’s campaigns typically focus on operational execution, margin expansion, capital allocation, governance, board composition, strategic reviews, and business simplification.
- Smith is not a seed or angel investor based on verified public sources; founders raising startup capital should treat Starboard as a public-markets activist investor, not a venture investor.
- Recent theses show a preference for public companies where Starboard believes the market is mispricing durable assets, such as Dynatrace’s observability platform, Tripadvisor’s travel assets, Pfizer’s pharma portfolio, and Flowserve’s industrial exposure.
- Starboard often publishes detailed public letters and investor presentations, using peer benchmarking, operating-margin comparisons, total shareholder return analysis, and governance arguments.
Notable Investments
- Darden Restaurants - Starboard replaced the entire 12-member board in 2014 after a campaign focused on operating performance, Red Lobster, and Olive Garden.
- Pfizer - Starboard reportedly built a roughly $1 billion stake in 2024 and pushed for accountability on acquisitions, R&D productivity, and capital allocation.
- Autodesk - Starboard reportedly held a roughly $500 million stake in 2024 and sought governance and operational changes following accounting-disclosure concerns.
- Tripadvisor - Starboard disclosed a roughly 9% stake in 2025 and argued the company was undervalued, later presenting a detailed thesis at the 2025 Active-Passive Investor Summit.
- Dynatrace - Starboard said in April 2026 it was one of Dynatrace’s largest shareholders and argued the company could benefit from AI-driven observability demand, margin expansion, and capital returns.
- Flowserve - Starboard said in May 2026 it was a significant shareholder and pressed the board for better growth, profitability, and execution.
- Kenvue - Starboard reportedly took a sizable stake in 2024 and sought changes at the consumer-health company behind brands such as Tylenol and Listerine.
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