About
Steel Capital Management was born out of necessity to help DTC brands grow by providing alternative financing options for early to mid-stage companies.
The firm is based upon the same idea that the earliest inventors of Steel first discovered when they combined Iron with Carbon. Originating from a similar path as its namesake, our growth capital product combines two seemingly unrelated elements – investment capital and payment processing – to create a strong lower cost solution that companies can use as the foundation to grow their business.
Just as we tried to solve the longer-term financing problem for e-commerce companies through growth capital term loans, our working capital product fulfills the shorter-term financing needs of e-commerce companies.
Our Ethos
We view our relationship with our portfolio companies as a real partnership.
Aside from taking the time to understand the objectives of our companies and their principals before we make an investment, we try to do what we can to support their growth throughout their lifecycle. We’re thoughtful when choosing who we partner with because we do not expect our first investment in a company to be our last.
Our investment structure is fully aligned with your growth objectives – just like the steel beams are nothing without the success of the overall building, so too our investment returns rely primarily on the success of our portfolio companies.
Steel revolutionized the world, sparking the industrial revolution leading to one of the greatest expansionary periods in history.
Our goal is to have Steel Capital Management fuel the growth for the next great age of companies.
Our Team
Prior to co-founding Steel Capital Management in 2020, Mr. Sehgal was a Partner at Feenix Venture Partners, LLC, a venture capital firm focused on investing across the capital structure in small to medium sized business-to-consumer companies.
At Feenix, Mr. Sehgal was a member of the Investment Committee, and focused on the investment analysis, underwriting, and risk management activities of the firm. Prior to joining Feenix, Mr. Sehgal was the Head of Fixed Income Emerging Market and Credit Trading at Bridgewater Associates, a $160bn AUM global macro hedge fund based in Connecticut. He was responsible for overseeing trading outcomes across 19 different markets and multiple product types including, hard currency EM debt, interest rate swaps, and credit default swaps. Additionally, Mr. Sehgal was responsible for spearheading financial technology initiatives, including building proprietary algorithmic trading platforms, and integrating external vendors with Bridgewater Associates in-house technology stack to increase access to liquidity and trading efficiencies. Prior to Bridgewater Associates, Mr. Sehgal worked at UBS Investment Bank as an Associate Director on the Structured Finance Desk. Mr. Sehgal has an M.S. in Financial Engineering and a B.S.E. in Chemical Engineering both from the University of Michigan.
Prior to co-founding Steel Capital Management in 2020, Mr. Hoffman was a Partner and General Counsel at Feenix Venture Partners, LLC, a venture capital firm focusing on investing across the capital structure in small to medium sized business-to-consumer companies.
At Feenix, Mr. Hoffman was a member of the Investment Committee and focused on deal execution and structuring, sourcing and portfolio company relationship management. Prior to joining Feenix, Mr. Hoffman was the General Counsel and Chief Compliance Officer at Long Pond Capital, LP, a multi-billion registered investment adviser managing long/short equity hedge funds focused on real estate and real estate related securities, where he was responsible for all legal, compliance and regulatory matters. Prior to Long Pond Capital, Mr. Hoffman was the General Counsel and Chief Compliance Officer at Tremblant Capital Group, a $2 billion registered investment adviser managing long/short equity hedge funds, long only funds and managed accounts, where he led the firm through its registration with the SEC. Prior to Tremblant Capital Group, Mr. Hoffman was the General Counsel and Chief Compliance Officer at Stanfield Capital Partners and an associate at Schulte Roth & Zabel LLP in the structured products and derivatives group. Mr. Hoffman received a JD from Benjamin N. Cardozo School of Law and a BA in Political Science from University of Vermont.
