We're the team behind the team - helping leaders add world-class talent, win customers, scale operations, and make accretive acquisitions. 19 years of rolling up our sleeves alongside founders who become lifelong partners.
*Realized investments as of 12/31/25
We are students of success who seek to partner with talented managers to achieve remarkable corporate transformations.
For nearly three decades, we've studied what separates technology and defense-focused companies that reach their full potential from those that don't. Our conclusion: the difference almost always comes down to leadership and great new product cycles or differentiated service offerings. We've built our entire practice around supporting leadership teams in reaching these inflection points to build enduringly successful businesses.
Most investors follow consensus. We look where others aren't looking — at companies with strong technology, loyal customers, and real revenue that are simply between chapters. The market often misprices these companies because the old story has ended and the new one hasn't started yet. That gap between perception and potential is where we operate.
Many of our portfolio companies serve the national security community, and that work demands a level of trust, security clearances, and customer intimacy that most investors simply can't offer. We hold active Top Secret clearances and sit on portfolio company boards alongside retired generals, former Assistant Secretaries of Defense, and leaders from the Air Force Research Laboratory and the Office of Naval Research.
Across both our commercial and defense portfolios, we bring a comprehensive operating playbook — templated from highly successful companies and lessons learned the hard way — with proven frameworks for hiring, product management, sales execution, and leadership standards that accelerate growth.
Across both lanes, the difference comes down to people. Working with Hale Global, we have built a statistically validated framework for identifying exceptional leaders — nine behavioral dimensions, from facilitative mindset to deliberate urgency, grounded in real data from decades of company building. This isn't instinct. It's a system. And it extends beyond the C-suite — we work with our portfolio companies to attract, develop, and retain great talent at every level of the organization. It's why operators choose to work with us again and again. Several of our leaders are on their third and fourth company with us — not because they have to, but because they want to.
These aren't aspirational — they're how we operate, how we build partnerships, and how those partnerships grow into relationships that last decades.
We back companies at inflection points - helping them scale faster, operate stronger, and realize their full potential.
Whether we're leading growth capital or owning the business outright, we act as aligned, engaged partners with a shared mission to win.
Trust is built on three pillars: involvement - understanding what matters to each other; competence - having the discipline to follow through; and sincerity - sharing real thoughts and intentions. We earn trust through curious conversations, consistent execution, and shared success.
As a nimble team, we prioritize relentlessly, move quickly, and focus on what matters most.
We approach every interaction with dignity and empathy - internally, and especially with prospective partners who give us their time and trust.
In federal markets, we bring active top-secret clearances, deep mission fluency, and decades of trusted relationships. In commercial markets, we apply proven playbooks, hiring systems, and routines shaped by admired leaders. We're always learning and helping our teams grow faster by building on what works.
We work hard, move fast, and take real joy in building with great people. Scaling a company takes courage in adversity and humility in success - and we bring both. We're entrepreneurs too and know that growing a company the right way builds lifelong friendships and lasting trust.
Private equity and public market strategies
We partner with talented entrepreneurs to achieve remarkable corporate transformations. Whether in control or non-control situations, we serve as stewards for the ideas of extraordinary leaders as they seek to accelerate growth in public companies, divestitures, special situations and private lower middle market companies.
We invest in dual-use and defense technology companies at the intersection of national security and commercial innovation. Our team holds TS/SCI clearances and has deep relationships across the federal technology ecosystem.
Investing in companies building critical capabilities for national defense, from cybersecurity to advanced manufacturing.
Technologies with applications across both government and commercial markets, enabling scale and diversification.
Our team's security clearances enable deep engagement with classified programs and sensitive technologies.
Strong relationships with defense primes, federal agencies, and the broader national security community.
Supporting established technology companies with capital and expertise to accelerate innovation and expansion.
Partnering with management teams to transform corporate spinoffs into independent growth businesses.
Identifying undervalued technology assets where our operational expertise can drive transformation.
Flexible investment structures tailored to the needs of each opportunity, from minority stakes to buyouts.
Our hedge fund strategies apply the same rigorous, value-oriented investment approach to public markets that has driven our success in private equity. We seek asymmetric risk/reward opportunities in technology and defense-adjacent public companies where our sector expertise provides an edge.
High-conviction positions in a select number of deeply-researched public equities where we have differentiated insight.
Leveraging our defense and technology network to identify mispriced opportunities in familiar markets.
Constructive dialogue with management teams to unlock value and drive operational improvements.
Patient capital approach aligned with our evergreen fund structure, avoiding short-term trading pressures.
We build enduring businesses through perpetual innovation.
We partner with management teams to unlock their next phase of growth. Our operating playbook draws on 29 years of experience—at HCP and our Founder's prior funds—scaling businesses profitably with world-class executives. We create lifelong partnerships. We sharpen strategy, attract talent, execute accretive M&A, introduce customers, and strengthen execution to drive profitable growth.
Current Investments
Zero-Trust BYOD
CybersecurityMajority Stake
AI / AnalyticsNASDAQ: VISL
Video TransmissionBoard Seat
Detection Tech
Galois Spinout
Defense TechAugust 2025
Federal ServicesASX:AVA
Critical InfrastructureTSXV:VXTR
PropTechOptical Comms
Space TechExits
Photonics & Fiber Optics
Defense Tech
Experienced investors and operators driving transformation
Chief Executive Officer
Founded HCP in 2007. Previously Managing Director at Pequot Ventures (now FirstMark Capital) where he was a member of the Investment and Operating Committees leading 7 funds with $2.2B AUM. B.A. History of Art from Yale University, cum laude with distinction.
Managing Director
Leads investment sourcing and portfolio company engagement across defense and commercial technology markets. Prior to HCP, served as Due Diligence Director for Keiretsu Forum NW.
Managing Director, Co-PM Hedge Fund
Co-Portfolio Manager for HCP's liquid strategies. Previously spent 9 years at Greenlight Capital reporting to David Einhorn. MBA from Columbia Business School, B.A. from Dartmouth College.
Venture Partner
Supports sourcing and fundraising at HCP. Former U.S. Representative (TX-3) and Texas State Senator. Marine Corps veteran with Iraq deployment. Vice Chairman of Texas Gulf Bank. Harvard MBA.
Operating Advisor
Brings operational expertise and strategic guidance to HCP portfolio companies.
Team Member
Supports HCP's investment activities and portfolio company engagement.
Controller
Oversees financial operations and fund accounting across the Hale Capital platform. Previously at LeverPoint Management. MBA in Accounting and Finance from RPI Lally School of Management.
Operations Associate
Supports operational initiatives and portfolio management across HCP investments. Prior experience includes investment analysis and aircraft trading at Orchard Aviation Capital.
Associate
Supports investment operations and portfolio company engagement across HCP's defense and commercial technology investments.
Investment announcements and milestones
AVA Risk Group (ASX:AVA) secures strategic investment package of up to A$12.6 million from Hale Capital, comprising a A$7 million secured convertible note facility and up to A$5.6 million from five-year unlisted warrants. Funding will accelerate Ava's U.S. expansion across critical infrastructure security markets. Hale Capital to nominate an industry executive to join AVA's Board.
Read More →Hale Capital Management announces the successful close of Fund V, increasing assets under management to $334 million. Fund V supports our strategy of partnering with management teams to build and reinvent lower-middle-market national security and technology businesses.
Read More →HCP increases stake in Vislink Technologies (NASDAQ: VISL) through a series of open market purchases, bringing total holdings to over 369,000 shares. Vislink provides live video transmission solutions for broadcast, military, and public safety markets.
HCP invests in ExistX, Inc., a federal solutions company redefining how cutting-edge innovations transition into operational impact for the DoD and Intelligence Community. ExistX was spun out of Galois.
Read More →HCP acquires majority stake in Athenium, a leading provider of innovative risk and quality management solutions using advanced data analytics and AI-driven capabilities for insurance, finance and government sectors.
Read More →Hale Capital acquires EMCORE Corporation's senior secured debt from prior lender Wingspire Capital, providing financial flexibility and restructuring support. EMCORE subsequently achieved positive cash flow and fully repaid all outstanding obligations by August 2024.
Read More →Niobium Microsystems, a Galois spinout and leading custom silicon provider for Zero Trust Computing, completes $5.5M seed round with HCP participation alongside Fusion Fund and Morgan Creek Capital.
Read More →HCP leads Hypori's $23M Series B financing for the zero-trust BYOD platform serving the Department of Defense. Martin Hale Jr. joins the Hypori Board of Directors. Hypori Halo is being deployed to 20,000+ users across the Army, Army Reserve, and Army National Guard.
Read More →Grant's highlights Martin Hale's Avid Technology pick from the 2019 conference, which generated a 437% return vs. 52% for the S&P 500. Hale appears on the Grant's "Current Yield" podcast discussing tech phoenixes and opportunities in the collapsing Nasdaq.
Read More →Grant's references Martin Hale's analysis that "70% of all tech companies lost 70% or more of their value" in prior recessions, while noting Oracle, EMC, Apple, and Amazon each lost 80%+ only to rally 50-fold from the bottom.
Read More →HCP leads Series A in Covisus, a pioneer in covert, intrinsic "tag-less" supply chain protection. Covisus' vTag® technology creates digital fingerprints of items using intrinsic surface texture for traceability, security, and authenticity without labels or RFID.
Read More →Martin Hale Jr. discusses "tech phoenixes" and HCP's investment approach with Jim Grant on Grant's Current Yield Podcast.
Read More →Martin Hale Jr. discusses HCP's approach to investing in technology companies with Burke Koonce and John Fichthorn, covering the distinction between investing and speculating in the tech sector.
Read More →Portfolio company Tangram Flex wins 5-year $95M IDIQ contract with AFRL Information Directorate for software integration and assurance. Tangram Pro™ enables DoD to rapidly integrate emerging technologies into military systems with cyber assurance.
Portfolio company Patch sees 30% revenue growth YoY and audience increase to 28.8M monthly visitors. National advertisers turn to hyper-local news as audiences seek community-focused coverage.
Read More →HCP participates in thatDot's $2M funding round alongside Oregon Venture Fund and Galois. thatDot, a Galois spinout, provides enterprise software for real-time discovery and navigation of data relationships in streaming graph data at massive scale.
Read More →HCP invests $15 million in Culmen International, a leading provider of technical, logistics, and management services with 250 employees operating in 100+ countries supporting DoD, State, Energy, Justice and Homeland Security.
Read More →Grant's Interest Rate Observer features Martin Hale on HCP's "tech phoenixes" strategy. "The strange thing about technology is it is a badge of honor to get completely wiped out as long as you come back." Discusses investing in down-and-out public tech companies.
Read More →Martin Hale quoted in Grant's on private equity valuations and HCP's focus on "illiquid and orphaned public companies" as an alternative to overpriced buyouts.
Read More →HCP portfolio company Lantronix acquires Maestro Wireless and FALCOM Holdings, expanding its global IoT gateway portfolio with industrial-grade cellular and GPS tracking solutions for enterprise markets.
Read More →Kofax announces definitive agreement to acquire HCP portfolio company Top Image Systems, Ltd. for $68.4 million. The acquisition combines TIS's intelligent content processing with Kofax's automation platform.
Read More →HCP invests $4.5 million in Tangram Flex, a Galois spinout providing AI-based software development tools focused on cyber assurance and resilience for the nation's most critical defense systems.
Read More →HCP closes on $3 million financing commitment to FalconStor Software, a data protection and storage management company.
Read More →HCP closes $17 million senior notes financing with Radisys Corporation to support the company's strategic shift toward software and services. Radisys also secured a $20 million asset-backed credit line.
Read More →Sierra Wireless completes acquisition of Numerex through an all-stock merger, paying approximately $24 million to retire Numerex debt. HCP's Numerex investment exits as the company joins Sierra Wireless' IoT device-to-cloud solutions portfolio.
Read More →Sierra Wireless announces definitive agreement to acquire HCP portfolio company Numerex in an all-stock transaction valued at approximately $107 million.
Read More →HCP closes $13.5 million note purchase agreement with Numerex, replacing prior debt with more flexible capital while reducing interest expense and extending maturity to 2021.
Read More →Tim Armstrong discusses how Patch's survival and growth under Hale Capital ownership validated the hyperlocal news model. Armstrong credits the Hale Capital team with transforming Patch into a sustainable, profitable business.
Read More →Digiday profiles Patch's transformation under Hale Capital ownership. Now profitable with 1,030 local news sites, 130 employees, and $20M+ in annual ad revenue, Patch emerges as a sustainable model for local journalism.
Read More →HCP completes $5 million convertible notes investment in Top Image Systems. Martin Hale Jr. joins the company's Board of Directors as part of the investment.
Read More →HCP closes $8 million term loan with Qumu Corporation, strengthening the company's balance sheet as it transitions to recurring revenue in enterprise video content management.
Read More →HCP invests $2 million in Lantronix (NASDAQ: LTRX), a specialized networking company providing smart IoT and M2M solutions. Martin Hale Jr. joins the board of directors as an independent director.
Read More →The Wall Street Journal profiles Patch's turnaround after Hale Capital and Hale Global's "hard reset" in 2014. The company achieves profitability with 23 million users across 900+ community sites after reducing staff from 540 to 98.
Read More →Adept Technology, HCP's portfolio company and leading provider of intelligent vision-guided and autonomous robotic solutions, is acquired by Omron Corporation for $200 million—HCP's largest disclosed exit.
Adept Technology enters definitive merger agreement with OMRON Corporation in a cash tender offer at $13.00 per share. OMRON to acquire all outstanding shares and merge Adept into a wholly-owned subsidiary.
Read More →HCP provides up to $13 million in debtor-in-possession financing to RB Energy under the Companies' Creditors Arrangement Act, with initial $6 million advance supporting the company's restructuring.
Adept Technology completes conversion of HCP's Series A Convertible Preferred Stock into 1,739,130 common shares, strengthening the company's balance sheet and simplifying capital structure.
AOL Inc. and Hale Capital and Hale Global announce creation of a joint venture to run Patch, the premier platform for local news and information serving more than 16 million monthly visitors across 900+ communities nationwide.
HCP invests $9 million in FalconStor Software through Series A convertible preferred stock. Martin Hale Jr. is elected to the company's board of directors, and HCP becomes the company's largest stockholder.
Read More →Intermedia completes acquisition of Telanetix at $7.284 per share in cash. The acquisition enhances Intermedia's position as a leading cloud services provider for SMBs with expanded hosted voice capabilities.
Read More →Intermedia announces definitive agreement to acquire HCP portfolio company Telanetix for approximately $55 million, adding 40,000 customers and expanding cloud services offerings for SMBs.
Read More →HCP invests $8 million in Adept Technology through Series A Convertible Preferred Stock. Martin Hale Jr. joins Adept's Board of Directors. Proceeds fund growth in mobile and packaging business and debt reduction.
Read More →United Silver Corp finalizes joint venture with HCP for the Crescent Silver Mine in Idaho's Silver Belt. HCP contributes $2.4 million for 20% interest. New Jersey Mill becomes operational and ships first concentrate to refinery.
Read More →HCP signs term sheet with United Silver Corp for 20% joint venture interest in the Crescent Silver Mine project in Idaho's Silver Belt, contributing $2.4 million.
Read More →HCP recognized at the ACG National Capital Corporate Growth Awards Gala at the National Air and Space Museum, honoring exceptional growth companies and dealmakers serving the Washington metro business community.
Read More →HCP completes financing with United Silver Corp including a convertible note of $6.3 million and warrants, with conversion price at $0.50 per share.
Read More →HCP provides $10 million senior secured line of credit to RX Exploration's subsidiary Drumlummon Ltd. for the historic Drumlummon gold mine in Montana.
Read More →CACI International acquires Paradigm Holdings, an HCP portfolio company and cybersecurity solutions provider, for $62 million.
Read More →HCP leads $6.2 million private placement of preferred stock and warrants for Paradigm Holdings, a federal government IT and cybersecurity solutions provider. Proceeds fund debt reduction and working capital.
Read More →HCP completes comprehensive recapitalization of Telanetix, reducing debt from $29.6M to $7.5M and providing $3M working capital. Martin Hale joins the board as HCP becomes the largest shareholder.
Read More →GSI Group reaches agreement with key stakeholders for plan of reorganization, positioning the precision technology company to emerge from Chapter 11 with a strengthened balance sheet.
Read More →Hale Capital and Hale Global wins "Divestiture Deal of the Year" and is named finalist for "Turnaround of the Year" at The M&A Advisor's 4th Annual Turnaround Awards Gala in Palm Beach for the LocationLogic/Autodesk transaction.
TeleCommunication Systems acquires Hale Capital portfolio company LocationLogic, spun out from Autodesk just three months earlier. The $25M deal ($15M cash + $10M stock) strengthens TCS's position in the fast-growing location-based services market.
Read More →Hale Capital completes acquisition of Autodesk's Location Services business unit, establishing LocationLogic LLC as an independent provider of location-based services infrastructure and applications for major wireless carriers.
Read More →HCP portfolio company ACE*COMM Corporation is acquired by Ariston Global, a Spire Capital portfolio company, for $19.5 million. The acquisition consolidates ACE*COMM's OSS and service delivery solutions within Spire's communications portfolio.
Read More →HCP closes $4.2 million financing with ACE*COMM Corporation through a senior secured convertible note with three-year repayment terms. Proceeds support rollout of Parent Patrol and Enterprise Patrol mobile management products.
Read More →Martin M. Hale Jr. founds Hale Capital Partners, an unconventional growth equity firm focused on technology transformation.
We'd love to hear from you
Whether you're an entrepreneur seeking a long-term partner or an investor interested in our approach, we welcome the opportunity to connect.
