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HodlCo
HodlCo was founded in 2017 by Mike Novogratz, who previously led Fortress Investment Group's macro fund and launched Galaxy Digital.
HodlCo
HodlCo was founded in 2017 by Mike Novogratz, who previously led Fortress Investment Group's macro fund and launched Galaxy Digital. The firm operates as a multi-family office and merchant bank, serving a small group of families with exposure to digital assets and alternative investments. Its wealth origin is not publicly attributed to any single family, though Novogratz's personal track record in macro and crypto underpins the firm's positioning. HodlCo's strategy spans direct venture investments in blockchain startups, real estate acquisitions, and liquid digital asset trading. The firm has backed companies including BlockFi, a crypto lending platform that later filed for bankruptcy, and Anchorage Digital, a regulated crypto custodian. Geographically, the firm invests in North America, the Middle East, and Europe, with additional deal flow sourced through its Kuwait City office. The firm employs an estimated 30-50 professionals across seven offices: New York, Kuwait City, London, Oakland, Santa Monica, Austin, and Red Bank. HodlCo also maintains a real estate arm that has acquired properties in the US and UK. In 2023, the firm was reported to be winding down some operations and returning capital to families, reflecting a strategy shift (per Bloomberg, 2023). HodlCo's structural differentiator is its hybrid model: it functions as both a family office and a merchant bank, combining direct principal investing with deal sourcing for external clients. The firm's Middle East office provides unique access to Gulf-based capital, and its digital asset focus sets it apart from traditional multi-family offices.
General information
Firm type
Multi Family Office
Year founded
2017
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Additional offices
Kuwait City, Kuwait · London, United Kingdom · Oakland, CA, United States · Santa Monica, CA, United States · Austin, TX, United States · Red Bank, NJ, United States
Principals
Mike Novogratz
Founder & CEO
Robert Avalos
Partner & COO
David Namdar
Head of Real Estate
Sector focus
Frequently asked questions
Who runs investment decisions at HodlCo?
Mike Novogratz serves as Founder and CEO, setting overall investment strategy. Robert Avalos is Partner and COO, overseeing operations, and David Namdar leads real estate investments. The firm does not publicly disclose a formal investment committee.
How does HodlCo source proprietary deal flow?
HodlCo sources deal flow through its network of offices in New York, Kuwait City, London, and other locations, plus Novogratz's personal relationships in crypto and finance. The firm's merchant bank structure allows it to originate and co-invest alongside clients.
Is HodlCo structured as a single family office or does it operate more like a merchant bank?
HodlCo operates as a multi-family office and merchant bank, serving a small group of families. It combines principal investing with deal sourcing and advisory, a hybrid structure that differentiates it from traditional single-family offices.
Does HodlCo participate in fund commitments or only direct deals?
HodlCo primarily makes direct investments in venture equity, real estate, and digital assets. It does not publicly disclose fund-of-funds or external manager commitments.
What investment stages does HodlCo typically target?
HodlCo targets early to growth-stage digital asset and blockchain companies, along with direct real estate acquisitions. Its liquid crypto trading adds a short-duration component to the portfolio.
Which sectors does HodlCo explicitly avoid?
HodlCo does not publicly disclose sectors it avoids. However, its public investment focus is concentrated in digital assets, blockchain, fintech, and real estate, suggesting limited exposure to traditional sectors like healthcare or manufacturing.
What is HodlCo's known posture on co-investments alongside external GPs?
HodlCo has co-invested alongside other family offices and venture firms in digital asset companies. Its merchant bank structure facilitates co-investment arrangements, though specific co-investment details are not widely reported.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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