RALEIGH, N.C. — New York-based Ailanthus Capital Management has bought a 5.1 percent stake in Raleigh-based Bandwidth (Nasdaq: BAND), according to a Securities and Exchange Commission filing. 

Bandwidth shares closed Friday, Jan. 12, at $23.01, down 5 cents.

As the close of the business on Jan. 8, Ailanthus Capital Management beneficially owned 212,686 shares of Bandwidth stock worth more than $4.9 million.

Ailanthus is a long-short equity fund that focuses on technology, media and telecommunications. It is run by Genevieve Kahr.

Kahr founded Ailanthus Capital in April of 2015. Previously she has worked as a partner with Jericho Capital and as an associate at TPG-Axon Capital.  In 2015, just prior to launching Ailanthus, she was listed as one of the 50 leading women in hedge funds by “The Hedge Fund Journal.”

Bandwidth develops products with intelligent voice backed by its all-IP voice network.

The company, which went public in December 2015, currently has 865 customers, including Microsoft and Google.

Bandwidth develops products with intelligent voice, messaging, 9-1-1 access, and phone number services, backed by its all-IP voice network.

Businesses use Bandwidth to add calling, texting and 9-1-1 connectivity to software, applications and internet-connect devices.

This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism