MSD Capital

MSD Capital is the private investment firm and family office established by Michael Dell, the founder and CEO of Dell Technologies. Founded in 1998, the firm was created to manage the Dell family's substantial wealth through a diversified and opportunistic investment strategy. Unlike traditional venture capital firms that focus primarily on early-stage startups, MSD Capital operates with a much broader mandate, deploying significant capital across a wide range of asset classes.

The firm's investment approach is characterized by its flexibility and long-term horizon, seeking to generate attractive risk-adjusted returns through patient capital. MSD Capital invests in public and private equity, real estate, credit, and other special situations. Its portfolio has historically included substantial stakes in established companies, large-scale real estate developments, and strategic co-investments. For instance, the firm was part of the consortium that acquired the Ultimate Fighting Championship (UFC) for approximately $4 billion in 2016, demonstrating its capacity for large, complex transactions.

While specific "first cheque" sizes are not publicly disclosed in a typical venture capital format, MSD Capital's investments are generally substantial, reflecting its status as a multi-billion-dollar family office. As of 2019, reports indicated that MSD Capital managed approximately $15 billion in assets, underscoring its significant financial capacity. Given its focus on private equity-like deals, growth equity, and large real estate projects, the firm's typical initial investments are likely in the tens to hundreds of millions of dollars, rather than the smaller sums associated with early-stage venture funding. This positions MSD Capital as a significant player in the private investment landscape, capable of providing substantial capital for growth and strategic initiatives.