David N. Baker

About David N. Baker

David N. Baker (“DNB”) is the Managing Principal of Land Value Alpha Fund. The Fund is dedicated to investing in what he considers the world\'s most inefficient asset class: Land. Land Value Alpha Fund \'s investment strategy focuses on acquiring undervalued land in tertiary markets (mainly the Northwest), conducting infrastructure development, acquiring and monetizing water rights, capitalizing on existing natural resources, or acquiring land entitlements for the highest and best use of the land, to generate superior (alpha) returns. DNB is also Managing Member of Mercadyne Automated Properties, a portfolio of self storage properties. Formerly he was Managing Member of Mercadyne Advisors LLC (fka Cascade Summit), a going public accelerator and advisor for private and micro-cap cap public companies. Advisory focused upon capital structure, offering structures, business models, investor optics and investment community visibility. He has led as investment principal, originating, structuring, financing and investing in alternative going public transactions for numerous emerging growth companies, advising them at all stages of their corporate lifecycle, from startup through subsequent public financings.Principal of three previous small cap/micro-cap, non-correlated, hedge funds and two advisory firms. DNB has directly invested in more than 200 small cap/micro cap structured financings. DNB’s career has also included other investment management capacities, proprietary trading, investment banking and securities brokerage. Operational roles in database software, renewable energy (wind turbines), self storage, property infrastructure development and fintech.He has authored or co-authored 7 financial analytics and database patents. Two consisting of a design for product/service hierarchy database for market competition and investment analysis, and a patent for granular method for index performance by sector. These issued patents were the basis of a Company he co-founded (Revere Data LLC fka Sectorbase), acquired by Factset Data Systems, Inc. in 2013. DNB earned a B.A. in 1989 from the University of Colorado and received a J.D. in 1992 from Golden Gate University (interned with the SEC, division of enforcement and division of corporation finance). He has previously held Series 7, 63, 65 and 55 securities licenses.

Experience

1. Managing Principal

   Land Value Alpha Fund

   Jun 2025 — Present

   Land Value Alpha Fund is dedicated to investing in what DNB considers the world\'s most inefficient asset class: Land. Land Value Alpha Fund \'s investment strategy focuses on acquiring undervalued land in tertiary markets (the Northwest), conducting infrastructure development, acquiring and monetizing water rights, rock demolition, capitalizing on existing natural resources, or acquiring land entitlements for the highest and best use of the land, to generate superior (alpha) returns. The fund takes no construction or mining risk. With over 25 years of experience, David has successfully invested in rural, commercial and residential land, while developing, redeveloping and operating self-storage facilities. He has led as owner and project manager, multi-million dollar infrastructure projects in Montana and Oregon, including: remote road construction, power installation, water well drilling, septic systems, pump stations, underground irrigation and home site preparation.

Education

• University of Colorado Boulder

  Bachelor of Arts (B.A.), Political Science

  1985 — 1989

• Golden Gate University, School of Law

  Doctor of Law (JD), Banking, Corporate Finance, and Securities Law

  1989 — 1992