Hudson Structured Capital Management

Michael Millette, the firm's founder and Managing Partner, leads investment strategy. He works alongside Partners Michael Doherty and Chris Collins, who share sourcing and underwriting responsibilities. The partnership operates from Stamford, with sector specialists distributed across offices in Santa Monica, New York, Denver, and Novi.

HSCM's origination model leans on Michael Millette's network from his tenure as head of structured finance for financial institutions at Goldman Sachs, where he structured landmark insurance-linked securities. The partnership leverages relationships with global reinsurers, specialty carriers, and insurance brokers to access deals before they reach broader auction processes. This insurance-ecosystem sourcing differentiates HSCM from generalist venture and credit platforms.

Hudson Structured Capital Management is a registered asset manager, not a family office. The firm functions as a hybrid investment platform running venture, growth equity, and structured credit strategies under a single mandate. It raises capital from institutional investors rather than managing a single family's wealth.

HSCM primarily executes direct investments and co-investments, spanning venture equity, growth equity, and structured credit. There is no public evidence that the firm makes substantial commitments to third-party funds. The partnership structures bespoke financings directly with portfolio companies, often alongside strategic insurance industry co-investors.

HSCM targets early-stage venture, growth equity, and structured credit opportunities. The firm's mandate allows it to invest across the lifecycle of portfolio companies — providing seed-stage equity to insurtech startups and later supplying structured credit or acquisition financing as those companies scale. Stage coverage varies by sector and opportunity.

HSCM concentrates on insurance, financial technology, enterprise software, healthcare services, and real estate. Within insurance, the firm targets insurtech platforms, distribution technology, and service providers that intersect with carriers and reinsurers. The partnership's dual venture-credit structure reflects the insurance sector's mix of startup innovation and capital-intensive balance-sheet businesses.

Michael Millette spent nearly two decades at Goldman Sachs, where he rose to head the financial institutions structured finance group. He was instrumental in developing the insurance-linked securities market, structuring catastrophe bonds and other risk-transfer instruments. That experience shapes HSCM's dual venture and structured credit strategy focused on insurance-adjacent businesses.