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March 06, 2019  

Tech Pro's Startup Features Modest Fees

Keith Hwang, a technology-stock investor who has run money for Microsoft co-founder Paul Allen, is aiming to raise $200 million of initial capital.

The commitments would go into a hedge fund Hwang started trading in December with a small amount of money. Hwang is running the entity, Eagle Point Global Management Fund, through a Seattle investment shop called Eagle Point Global he launched in August.

The firm buys stocks in companies with potentially disruptive technology. It also seeks special situations and arbitrage opportunities in the technology sector.

Eagle Point’s fees are lower than is typical for a hedge fund. For limited partners who sign on before yearend, it is taking 1% of assets and 10% of gains — with the management fee falling to 0.5% should the fund’s assets reach $1 billion. Nonprofit clients start at 0.5% of assets and 10% of gains.

Hwang worked at Allen’s Vulcan Capital from 2011 to 2014. He then spent about four years at proprietary-trading shop Cutler Capital trading options on technology-company shares. Prior to Vulcan, Hwang was a technology analyst at Connective Capital.

Eagle Point’s only other staffers so far are chief operating officer Daniel Smith, whose previous employers include Cutler, and Holly Woodson, a former teacher who is handling marketing. Hwang plans to hire more investment staff.