Thessalus Capital Management
Thessalus Capital Management, recently founded by Mitchell Ng ’16 of Princeton University, is a student-run investment fund with an impressive $150,000 in assets under management. Ng is a pre-med, Molecular Biology major at Princeton with experience working in the healthcare division of an investment bank last summer. He was one of two sophomores from Princeton selected to attend the E-Club Silicon Valley Tigertrek Trip, where he met top start-up CEOs, investors, and Venture Capitalists, including John Doerr (KPCB) and Paul Graham (Y-Combinator). Ng began Thessalus using revenue generated from ThinkIvy as anchor capital, as well as funds pledged from other personal and business contacts. ThinkIvy, founded by Ng his freshmen year at Princeton, is a college consulting start-up firm with twenty employees that has produced over $300,000 in revenue. Ng is still reaching out to investors, and aims to have at least $250K AUM by the end of the year. Part of what makes Thessalus unique from other investment funds is that it features a diverse management team from top schools, whose members are also engaged in mentoring talented high school students about investment strategies. In addition to Ng, fourteen other students from Princeton, Yale, UPenn, and Duke currently manage the Thessalus investment fund. To mention a few key players, Thessalus’s partners include Cameron Kirdzik ’17 from Yale, Simon Song ’17 from Duke, and Brendan O’Connor ’18 from Princeton. Thessalus has a primary industry focus on the healthcare and TMT industry areas, but will also cover the consumer product and energy industries. With a multifaceted investment strategy, Ng and his team hope to maximize returns while maintaining a diversified, low risk portfolio. In order to meet that end, the team’s primary objectives are first and foremost, capital preservation, and second, beating the S&P 500 and other economic baselines. More specifically, Thessalus’s current investment strategy is to create a portfolio with a minimal amount of risk by purchasing large market cap stocks ($300-$400 million market cap) and exchange-traded funds (ETFs). If this strategy continues to be successful, Thessalus’s partners will begin to increase the portfolio’s risk by incorporating long/short equity hedging strategies and potentially providing seed funding for start-ups on Princeton’s campus. Given that Ng’s past decision to personally invest $25,000 in Novabionics/Dronecast—a company founded by Ng’s fellow EMT and high school classmate Raj Singh—was very profitable considering the company’s 300% growth and $5 million current valuation, it is likely that Ng will continue to invest in promising start-ups. As for future expansion, Thessalus hopes to bring in new analysts and potential partners with insightful perspectives by involving more colleges and raising additional capital. While Thessalus Capital Management is relatively new, it will be exciting to see how the fund performs over the next few years under Ng and his team’s management.

  • Richard

    I agree. A wise businessman in the Caribbean named Sir Kyffin Simpson always said that the key to success is progression and humility, and clearly he’s done very well for himself as a self made man!

  • John Andrews

    The Airgain IPO launches this week, and they’re a one-brand company.

    Some investors don’t think it’s a good stock though:

  • Cincinnati World Cinema

    Well said, Joe, and worth rereading on a regular basis! Another advantage of small-to-midsize city living is pace and competition. Living in NYC, LA and SF entailed a hectic pace, hallmarked by capital S striving, as one realized there were a ton of others doing what I do. Spending so much time in one’s car in SoCal meant much less time for quality pursuits and pleasures. A smaller pond with relaxed pace allows one to savor life and special moments.

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