Industry Leading Investor in
Small Public Companies


  • Michael Sobeck
    Michael Sobeck Principal

    Mr. Sobeck is the Senior Portfolio Manager and one of the original founders of Tangiers Capital. With over 13 years’ experience investing in small public companies, he brings a diverse set of skills to the construction and management of the Tangiers portfolio. Mr. Sobeck has personally structured over 125 individual funding transactions since Tangiers’ inception through a variety of creative capital mechanisms. He graduated from the Goizueta Business School at Emory University with a dual concentration degree in Marketing and Finance. An avid off the beaten path traveler, he recently completed a 5,500 mile drive through Malawi, Zambia and Namibia.

  • Justin Ederle
    Justin Ederle Principal

    Mr. Ederle co-founded Tangiers Capital, LLC and has built it into one of the most successful and ethical funds in the small-cap space over the past 13 years. As one of the primary investors in Tangiers, he has shown a willingness to take risks and put his own personal capital to work through the fund. Mr. Ederle also delivers a wealth of expertise to clients from his previous work as a trusted advisor to public companies – specifically related to acquisitions, corporate governance, regulatory insight and market viability.  Mr. Ederle received a Bachelor’s in Business Administration with a concentration in Finance from the University of Delaware in Newark, DE.  Outside of work, Mr. Ederle dedicates his free time to his family, a lackluster golf game and the chase of the kite surfing world championship.

  • Robert Papiri
    Robert Papiri Principal

    Mr. Papiri is the Senior Analyst and an original founder at Tangiers Capital. He brings a diverse business background to the team, including extensive knowledge of complex real estate transactions and an unmatched understanding of natural resource investments. Mr. Papiri is currently an advisor on significant OPIC backed CMM/CBM energy projects in Turkey, Botswana and Colombia. Robert resides in the Bay Area with his wife and award-winning malamute Wolfgang.

  • Aaron Raub
    Aaron Raub Senior Equity Analyst

    Mr. Raub serves as the company’s Senior Equity Analyst.  In this role he performs fundamental review of potential funding targets along with broader industry analysis to determine risk/return trade-offs for the Tangiers investment portfolio.  Mr Raub graduated Magna Cum Laude with Distinction for his B.A. in Finance from San Diego State University.  During his senior year, he was selected to be the school’s Energy Analyst for the SDSU Aztec Equity Fund.  Additionally, he is a current CFA Level 2 Candidate.  Aaron is an outdoor enthusiast who is slowly working his way up the office ping-pong ladder.

  • Cody Shandraw
    Cody Shandraw Director of Business Development

    Mr. Shandraw joined Tangiers in early 2016 to head up the new business acquisition department. In this role he currently manages due diligence and market assessment projects, including the building and maintaining of new relationships with clients and partners. A serial entrepreneur from an early age, Mr Shandraw’s drive and creativity have already proven invaluable. Cody resides in Southern Florida with his fiancée, their Bengal cat and motorcycle collection.

  • Cristina Avila
    Cristina Avila Accountant

    Ms. Avila is an invaluable team member of Tangiers, specifically in the areas of client relations, portfolio analysis and compliance. Ms. Avila continually ensures that Tangiers is managed effectively and profitably – resulting in what we consider to be the best support operation in the small-cap industry. Cristina holds a degree in economics from University of California, San Diego and enjoys hiking, kayaking and exploring the Southern California outdoors.

  • Shannon McLaughlin
    Shannon McLaughlin Account Executive

    Ms. McLaughlin leads multiple aspects of our operations including the coordination of transactions with client companies, communication with service providers and corporate accounting. She received a B.A. in literature/writing from UCSD in La Jolla, CA with an emphasis on creative writing. As a part of the San Diego poetry scene, Shannon has participated in several poetry readings and has been published in multiple zines. Outside of work you can find her listening to podcasts, practicing yoga on her living room floor and camping in the local mountains of San Diego.