Graham Macnab

Graham Macnab is a Principal at Hale Capital Partners, a New York-based investment firm founded in 2007 by Martin M. Hale Jr. that applies a private-equity discipline to lower-middle-market technology and defense companies. Multiple business databases (Bloomberg, RocketReach, SignalHire) identify Macnab with the firm, and his professional email sits on the firm's `halefunds.com` domain.

Before moving into investing, Macnab worked in investment banking. Per aggregated career records, he was an analyst at BNP Paribas and at Bank of America Merrill Lynch, where he focused on corporate and investment banking and mergers & acquisitions. That M&A and capital-markets background is consistent with Hale's transaction-heavy approach of spinouts, divestitures, carve-outs, and recapitalizations.

He earned a Bachelor of Arts in Economics from Wesleyan University (2010–2014).

Hale Capital Partners itself is a DoD "Trusted Capital"–aligned investor that backs companies with differentiated technology serving the defense and intelligence community. As of the December 2025 close of Fund V, the firm reported roughly $334 million in AUM, 40+ investments over ~19 years, and a strong operating track record (the firm cites a 656% median EBITDA growth figure on realized investments). Firm principals like Macnab typically source, evaluate, and help oversee these portfolio investments.

• Invests through Hale Capital's growth-equity and special-situations strategy — targeting significant minority to control stakes in lower-middle-market companies, *not* seed/angel checks.
• Core thesis in the firm's words: back "companies with strong technology, loyal customers, and real revenue that are simply between chapters" — i.e., good businesses in transition (spinouts, divestitures, recapitalizations, corporate carve-outs).
• Sector concentration in defense, intelligence, and federal technology, plus dual-use and commercial technology, media, and telecom.
• Looks for mission-critical products, durable end-user demand, and long-term customer relationships — "anchored by elite customers."
• Distinctive niche: scaling laboratory / research-lab spinouts, notably Galois spinouts (TangramFlex, thatDot, Niobium) and similar deep-tech carve-outs.