Victor Hwang joins MSD Partners as co-head of newly-launched MSD Growth

Hwang joins from industry Ventures, and has previous experience at Internet Capital Group and Goldman Sachs.

MSD Partners has named Victor Hwang managing director and co-head of the investment firm’s newly formed Growth investment business. Victor joins Dan Bitar, a managing director who is an 18-year veteran of MSD, in co-leading MSD Growth.


New York, October 14, 2021 – MSD Partners, L.P. today announced that it has named Victor Hwang Managing Director and Co-Head of the investment firm’s newly formed Growth investment business.  Mr. Hwang joins Dan Bitar, a Managing Director who is an 18-year veteran of MSD, in co-leading MSD Growth, which is focused on investing in rapidly growing, founder-led, private companies, principally in the technology and healthcare industries.

MSD Growth will represent a new MSD core investing strategy, operating alongside its franchises in Credit, Real Estate and Private Capital.

“We are pleased to have Victor Hwang join the MSD team to co-head MSD Growth,” said Gregg Lemkau, Chief Executive Officer of MSD Partners.  “With Victor and Dan as leaders of this new group, we look forward to taking disciplined steps to expand our investments in world-class, founder-led businesses, building on our record to date.  We have set up a differentiated platform that is distinguished by its flexibility and have committed resources and capital to build a successful investment group for the next decade and beyond.”  MSD’s growth investments to date have included Celonis, Cue Health, GitLab, GoodLeap, GoPuff, iCapital, Qualtrics, Resilience and Stripe.

“The MSD team has more than two decades of technology-related investing experience, and we look forward to extending this record as we increasingly target rapidly growing, private, technology and healthcare companies,” said Mr. Bitar.  “MSD Growth is set apart from other groups by its connection to an extraordinarily successful business-builder in Michael Dell, the patient, long-term nature of our capital, and the ability to be a flexible partner in how we invest alongside innovative teams.”

“I am excited to join MSD to help lead a dedicated team focused on investments in private companies with exciting growth opportunities,” said Mr. Hwang.  “The private markets have been generating significant value and technology innovation will continue to be a dominant investment theme for decades to come.  But successful growth investors will need to be nimble going forward, as it is unlikely that the markets will grow in a straight line.  Flexibility and patience are what distinguish MSD and are the qualities that drew me to this great firm.”

Victor Hwang brings to MSD more than 25 years of experience focused on private technology investments and operations.  Most recently, he was a Managing Director, General Partner, and Member of the Investment Committee for the secondary funds of Industry Ventures, a leading investment firm focused on the venture capital market, where he established a strong track record investing in enterprise, internet and healthcare companies over more than a decade.  Before joining Industry Ventures, he was an active angel investor and held investor and operating roles at Internet Capital Group and Goldman Sachs & Co.

Dan Bitar joined MSD Capital in 2003 and has served in a number of roles including Portfolio Manager, Member of the Valuation Committee, and as a Member of the Trading Practices Committee of the firm or its affiliates.  Before joining MSD Capital, he held investor and operating roles at Brera Capital Partners, Millicom International Cellular and The Blackstone Group.

About MSD Partners

MSD Partners, L.P. is an SEC-registered investment adviser that utilizes a multi-disciplinary strategy focused on maximizing long-term capital appreciation by making investments across the globe in its core areas of expertise – Credit, Real Estate, Private Capital and Growth.  MSD Partners was formed in 2009 by the partners of MSD Capital, L.P., which is the family investment office for Michael Dell, the Founder & CEO of Dell Technologies.  MSD Capital was originally established in 1998.  Michael Dell and his family are substantial clients of MSD Partners.  MSD Partners operates from offices in New York, Santa Monica and West Palm Beach.  Additional information regarding MSD Partners may be found at and regarding MSD Growth may be found at