Growth Equity · Private Capital

Capital for what comes next Concentrated capital. Foundational companies.

Esoteric Investments is a growth equity firm investing in primary rounds and secondaries across leading technology, artificial intelligence, defense, data center, semiconductor, and consumer companies.

I. The Thesis

The next decade of value creation will be concentrated — and increasingly private.

The companies that will define the coming era — the model laboratories, the silicon designers, the autonomy primes, the hyperscalers — are staying private longer and compounding faster than any prior cohort.

Public markets see the outcome. We invest in the interim. Through primary participation in growth rounds and disciplined secondary acquisition, we provide capital where it is most catalytic — and build positions in the businesses that others can no longer access.

Our edge is relational, not algorithmic. Knowledge, in this corner of the market, is genuinely esoteric.

i.
Concentrated
A small number of high-conviction positions, deeply researched and patiently held.
ii.
Discreet
Discretion is presumed. We do not publicise positions, transactions, or counterparties.
iii.
Aligned
Long-duration capital, structured to match the timelines of the businesses we back.
iv.
Catalytic
Capital, network, and counsel deployed where they are genuinely additive — and nowhere else.
II. The Mandate

Late-stage private. Pre-IPO. Technology.

№ 01

The Mandate

Pre-IPO growth equity in technology. Late-stage private positions in category-defining businesses with established traction, defensible economics, and a credible path to public-market liquidity.

The mandate is access at the late-private stage — not early-stage discovery.

№ 02

The Structure

Esoteric Investments is the sponsor of Esoteric Strategies LP, a series limited partnership. Each investment is held in its own dedicated series, with its own investor base, structure, and economics.

There is no commingled fund. Capital is matched precisely to opportunity, deal by deal.

Six sectors. One coherent thesis.

i.
Artificial Intelligence
Frontier model laboratories, training & inference infrastructure, agentic application layers, vertical AI for regulated industries.
ii.
Defense & National Security
Autonomous systems, hardened software, dual-use hardware, space & ISR, and the next generation of primes.
iii.
Data Centers & Power
Hyperscale infrastructure, liquid cooling, on-site generation, grid-edge solutions, and the physical substrate of compute.
iv.
Semiconductors
Custom silicon, photonics, advanced packaging, EDA, and foundry-adjacent platforms with durable IP moats.
v.
Technology Platforms
Vertical and horizontal software with category-defining distribution, durable network effects, and clear paths to public-market scale.
vi.
Consumer & Brand
Iconic consumer franchises with unmistakable identity, pricing power, and the operational rigour to compound across cycles.
IV. Capital Strategy

Two routes to the same conviction.

№ 01

Primary Rounds

We lead and co-invest in growth-stage primary rounds where our capital is genuinely additive — and our network meaningfully so. Cheque sizes from $25M to $200M, with appetite to anchor.

  • Series C through Pre-IPO
  • Lead and Co-Lead Positions
  • Board or Observer Engagement
  • Long-Hold Capital
№ 02

Secondary Liquidity

We provide structured liquidity to founders, employees, and early investors in the most sought-after private companies — discreetly, efficiently, and at scale. Single-name and tender-led transactions.

  • Direct Secondaries
  • Tender Offers & SPVs
  • Founder & Employee Liquidity
  • LP-Led & GP-Led Solutions
V. Partners

Two decades of building alternative investment platforms.

The best returns live in places that are difficult to access, harder to underwrite, and rarely covered.
Patrick Horsman, CFA  ·  Founder & Chief Investment Officer
i.
Patrick Horsman, CFA
 
Founder & Chief Investment Officer

Chief Investment Officer of BNB Plus Corp (Nasdaq: BNBX), a public digital asset treasury built to outperform simple BNB buy-and-hold through a yield and compounding mechanism.

  • Over two decades in alternative investments across hedge funds, real estate, venture, and digital assets
  • Co-Founder of Coral Capital, a DeFi hedge fund (2021); GP acquired by DNA Fund in 2024
  • Founder of Verified Organic, an Ethereum platform for track-and-trace in organic farming, built with ConsenSys (2018)
  • Co-Founder of Innovation Shares, issuer of NYSE-listed thematic ETFs including KOIN (Blockchain), EKAR, and THCX (Cannabis) (2017)
  • CIO of Esoteric Investments, focused on growth equity and arbitrage strategies including the Grayscale public trusts GBTC and ETHE (2016)
  • Co-Founder & Managing Partner of Integrated Ag, a $270M agriculture-focused private equity real estate fund that developed 17,000+ acres of U.S. farmland (2012)
  • Co-Founder & COO of Merion Investment Management, a $1.2B peak-AUM litigation finance hedge fund (2009)
  • Co-Founder of Context Summits, a capital introduction conference platform
  • Co-Founder & Managing Partner of Blue Sand Securities, a FINRA-registered placement agent that raised over $15B for single-manager hedge funds (2002)
  • Triple major in Finance, Accounting & Entrepreneurship, University of Arizona (Magna Cum Laude); Chartered Financial Analyst
Full Biography →
ii.
Russell Gross
 
Partner & Portfolio Manager

Chief Investment Officer of Horsman Holdings since 2018, leading allocation across hedge funds, private equity, real estate, and direct venture.

  • Focus on uncorrelated niche strategies: litigation finance, agriculture, insurance, and disruptive technologies
  • Previously Director of Research at Blue Sand Securities, the institutional placement agent founded by Patrick in 2002
  • Eighteen years at JPMorgan, most recently Head of Hedge Fund Secondaries within JPMorgan Alternative Asset Management ($13B external manager platform)
  • B.S. Finance, University of Hartford; coursework at NYU Stern; Value Investing Program at Columbia Business School
  • Previously held FINRA Series 7 and 63
iii.
Michael Hubbard
 
Partner & Portfolio Manager

Co-Founder and Chief Investment Officer of HealthRamp Partners, a healthcare-focused venture capital firm.

  • Over twelve years of experience across hedge funds, family offices, and venture capital
  • Chairman of A. Friends' Foundation, overseeing the foundation's investments and grants
  • Previously analyst covering healthcare and biotech at Long Focus Capital, a global macro hedge fund
  • Led the Southeast region for Nationwide's Executive Liability Division
  • B.S. Business, Birmingham-Southern College; MBA, Clemson University
VI. Investments

A private register.

We do not publish a public portfolio. The companies we back operate at the frontier of technology, defense, and infrastructure; many of our positions are sensitive, our counterparties confidential, and our holdings concentrated.

Discretion is not a marketing posture — it is a service we extend to the founders and shareholders who entrust us with capacity, access, and information.

◆ Qualified Inquiries

The full register is available upon request.

Limited partners, prospective co-investors, and counterparties evaluating a potential transaction are invited to request access through our diligence process.

Request Access →
VII. Inquiries

A short note will find us.

We work with a small circle of founders, secondary sellers, co-investors, and limited partners. Discretion is presumed; introductions are warmly received.

◆ Office
San Juan
Puerto Rico
◆ Office
Miami
Florida
Contact@EsotericInv.com