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Sabby Capital
Hal Mintz runs Sabby Capital, a Hoboken hedge fund that trades structured warrants and convertible debt in small-cap biotech and tech companies.
Sabby Capital
Sabby Capital is led by Hal Mintz, a New York investment banker who previously managed BAM Capital. The firm is an activist investment firm that invests in warrants of small cap healthcare companies. Sabby Capital manages multiple fund series, including the Sabby Healthcare Volatility Master Fund and the Sabby Volatility Warrant Master Fund.
General information
Firm type
Generalist
Year founded
2011
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Hoboken
Corporate office
Hoboken, NJ, United States
Principals
Hal Mintz
Founder, Principal and Managing Member
Robert Alan Grundstein
COO, General Counsel and CCO
Sector focus
Frequently asked questions
What is Sabby Capital's core investment strategy?
Sabby Capital specializes in structured equity and convertible debt in small-cap and micro-cap public companies, primarily in the biotechnology and technology sectors. The firm negotiates bespoke financing packages—including convertible preferred stock, warrants, and PIPEs—that combine downside protection with leveraged upside to binary events like FDA approvals or clinical trial readouts. This strategy relies on deep scientific due diligence and a legal structuring capability uncommon among generalist hedge funds.
Who makes investment decisions at Sabby Capital?
Hal Mintz, the firm's founder, Principal, and Managing Member, is the sole decision-maker for Sabby Capital's investment portfolio. He oversees all trading, structuring, and portfolio allocation, supported by Chief Operating Officer and General Counsel Robert Alan Grundstein, who manages legal, compliance, and operational functions. The firm operates as a tightly controlled partnership with a flat organizational structure.
Does Sabby Capital take activist positions in portfolio companies?
Yes, Sabby Capital has a history of activist engagement, particularly in underperforming biotechnology companies where it holds significant equity or convertible positions. Public filings and litigation records show the firm has pushed for management changes, strategic alternatives, and governance reforms in several investee companies. This activist posture complements its structured-deal approach, allowing it to influence outcomes beyond simply trading around clinical events.
What is Sabby Capital's relationship with Kangapoda?
Kangapoda is a registered broker-dealer affiliated with Sabby Capital, providing trade execution and deal-sourcing capabilities. The relationship gives Sabby operational flexibility to execute on its structured transactions without relying entirely on third-party prime brokerage desks. It represents a vertical integration of the deal-sourcing and execution pipeline.
Does Sabby Capital manage outside capital or only internal partner money?
Sabby Capital operates as a traditional hedge fund manager, raising outside capital from institutional investors, family offices, and high-net-worth individuals in addition to internal partner capital. The firm's fund structure allows it to aggregate commitments through a commingled vehicle that pursues the convertible and structured-equity strategy across a diversified book of positions.
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