Next Century Growth Investors, LLC is an independent money management firm located in Minneapolis, MN. Founded in November 1998 by Tom Press and Don Longlet, our philosophy is to construct and manage portfolios with the highest quality and fastest growing companies in America with the belief that this will lead to market outperformance over the long-term. NCG has managed institutional accounts since January 1999 and the portfolio managers have over 100 years of combined investment experience. We offer a disciplined approach to growth stock investing, an approach that has endured numerous economic and market cycles.

Since the inception of the firm, our philosophy, strategy, and process have remained consistently focused on investing in high growth companies to create value for our clients. We believe our focus and expertise in growth investing can help clients navigate the markets and accomplish their investment goals.

We seek to build a firm that will endure for many generations. Our organizational structure, investments in our people, and portfolio investment strategy all support this goal. Key highlights include:

  • NCG is primarily owned by the Portfolio Managers
  • Investment team is staggered in ages to sustainably maintain our investment philosophy
  • Repeatable investment philosophy that has held up through multiple generations and through multiple investment environments

Integral to the firm is a commitment to value and respect our people, our communities, and our environment. We strive to uphold high standards of integrity to do what is best for our clients and create a rewarding environment for our employees.

We have developed firm level ESG guidelines to promote and support ESG best practices.

Investment Team

Thomas Press, CFA

Chairman, Chief Executive Officer, Portfolio Manager, Partner

Tom founded NCG in November 1998 with the goal of managing client accounts within the firm’s growth stock investing philosophy.  He is one of the portfolio managers on all strategies.  Prior to NCG he worked as a portfolio manager at Jundt Associates from 1994-1998 and Investment Advisors from 1992-1993.  From 1985-1992 he worked at Salomon Brothers and Morgan Stanley on the institutional sales desk.  Tom holds a B.A. in business administration from the University of Minnesota and an M.B.A. from the University of St. Thomas.  He was a former member of the U.S. World, World Cup, and Olympic Wrestling Teams (alternate and team leader) and is a member of the Minnesota Wrestling Coaches Association Hall of Fame.

Robert Scott, CFA

President, Portfolio Manager, Partner

Bob joined NCG in 2000, serving as one of the portfolio managers on all strategies, and he became a partner in 2002.  In 2003, he helped create NCG’s microcap strategy.  Bob became President in 2013 and served as COO from 2013-2021.  Prior to joining NCG, Bob worked at Investment Advisers, Inc (IAI) from 1993-2000. While at IAI, he held various positions including Vice President and portfolio manager for the IAI small cap growth and mid cap growth products.  He also spent two years as a research analyst with the American Embassy in Tokyo, Japan.  Bob graduated from Harvard University in 1990.

Peter Capouch, CFA

Chief Operating Officer, Portfolio Manager and Partner

Peter joined NCG in 2003, serving as one of the portfolio managers on all strategies, and he became a partner in 2008.  Peter became COO in 2021.  Prior to joining NCG, he worked for one year at State Street Global Advisors.  Peter graduated from Harvard University in 2002, where he was captain of the men’s ice hockey team.

Kaj Doerring

Portfolio Manager and Partner

Kaj joined NCG in 2005, serving as one of the portfolio managers on all strategies, and he became a partner in 2009. Prior to NCG, Kaj spent three years at Think Equity Partners and three years at Piper Jaffray. Before entering the investment industry, he spent 14 years at various positions within drug, diagnostic, medical device and capital equipment sales/marketing areas, including nine years at Bristol-Myers Squibb, two years at Boehringer Mannheim Diagnostics and three years at Coherent Surgical. Kaj graduated from Concordia College, Moorhead, MN in 1985 with a BA in Computer Science.

Tom Dignard, CFA

Portfolio Manager and Partner

Tom joined NCG in 2013, serving as one of the portfolio managers on all strategies, and he became a partner in 2019. Tom earned his BA in economics from Yale University in 2010, where he was also a 4-year letterman of the Men’s Ice Hockey Team. He earned his MBA and graduated with Distinction from the University of Ulster in 2012.


John Solecki

Institutional Sales & Marketing

John joined NCG in 2022, continuing an extensive career in institutional sales and marketing for the asset management industry. Prior to NCG John spent 8 years at Morgan Dempsey Capital Management, and before that he spent 7 years at Horizon Kinetics and 8 years at Mesirow Financial. John was appointed by the Governor of Michigan to the Michigan Public School Employees’ Retirement System & Health Care Committee – MPSERS (2020-2024). He is a member of the Detroit Symphony Orchestra’s Gabrilowitsch Society and served as the treasurer on the Epilepsy Board of Michigan. John co-authored a white paper – Hidden Value in Spin-offs. John graduated from Cornell University with a BS in Economics/Finance and lettered on the Varsity Football Team. He is a lifetime member of the CFA (Cornell Football Association).

Operations Team

Kelly McNulty

Vice President, Chief Compliance Officer, Chief Financial Officer

Kelly has over 29 years of industry experience. Prior to joining NCG in April 2002, she spent 7 years with Paladin Investments (formerly Investment Advisers, Inc.) as Associate Vice President of Operations overseeing institutional accounts and mutual funds. Previous to Paladin, Kelly held various positions at Piper Jaffray. Kelly received her MBA in Finance in May 2002 from the University of St. Thomas and she received her BA in Accounting and Finance from Creighton University in 1992.

Joseph Grundfeldt


Joe has 26 years of investment industry experience. Prior to joining NCG in February 2004, Joe spent over 8 years with American Express Financial Advisors. Joe held various positions at American Express including brokerage product development and equity trader. Joe received his B.S. in Economics and Finance from St. Cloud State University in 1994. Joe is a member and past president of the Minnesota Security Dealers Association.

Gina Nelson


Gina joined NCG in February 1999. Prior to joining NCG Gina spent five years at Merrill Lynch & Co. functioning as a client associate as well as a meeting planning and seminar coordinator. She also spent one year at Jundt Associates, Inc., as an assistant trader. Gina holds a B.A. degree from the University of Wisconsin – Stout.