Fund Description: RENN Fund, Inc. is an exchange-traded closed-end fund (CEF) or a closed-end ETF that is officially described as a non-diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The RENN Fund, Inc. seeks to achieve capital appreciation. FUND STRATEGY: The Fund will invest in equity securities and convertible issues of small and medium size of emerging growth companies traded on United States securities exchanges.which are in need of capital and which the Adviser believes offers the opportunity for growth. The investment philosophy utilized by RENN is based on a bottom-up analysis to identify and invest in small companies having the following characteristics: a defensible position in a growing industry; an established business process; solid potential earnings and cash-flow growth; attractive valuations; and quality management with a stake in the business. RENN invests in publicly traded equities and convertible debentures, but also has a strong emphasis on privately placing convertible debt with small-cap issuers. FUND MANAGEMENT: RENN Capital Group, Inc. serves as the investment adviser to the Fund and is primarily responsible for the selection, evaluation, structure, valuation, and administration of the Fund’s investment portfolio, subject to the supervision of the Board of Directors.