Hc2 Capital, LLC

CandidateSEC-registered adviser· Dallas, TexasHC2CAPITAL.COM

Real Estate Private Equity Firm providing accredited investors access to real estate investments and EB-5 opportunities across the U.S.

In the firm's own words, from its website.

Reported fund assets
$159M
sum of its funds' Form ADV filings, last 30 months
Investment team
6
Latest vintage
2024
As of · the latest observation of this organization; filed figures are as of its latest Form ADV

4 additional team members, 52 additional investments, funds and LPs, 67 events, 1 verified contact (1 firm phone)

Every relationship, signal and contact on this record, with the source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Nothing material in the last 180 days.

People to know

View all people
  • Managing Director
    Why: Managing director
    No route on file yet
  • Class A Member
    Why: Named with investment responsibility
    No route on file yet
  • Class A Member
    Why: Named with investment responsibility
    No route on file yet

Relationship network

62 connected entities

From financing rounds and every investor named in them, Form ADV and Form D filings, the firm's funds and team, and disclosed LP commitments in the venture capital graph. A round's amount is the size of the round, not money that moved between two investors.

Some relationships on this record are counted rather than named here. They open with the full profile.

Click any name or line for the rounds and sources behind it. Line weight is rounds together; dashed lines are inferred.

Reading the network
  • Fund or vehicle
  • Person

Co-investors are read from the rounds: three or more shared rounds is a strong observed relationship, two a repeat co-investor, one a single round. Funds and people are structural. Nothing is scored that a reader cannot check.

Darker lines were active in the last 24 months or are current; lighter lines are older or undated.

How am I connected?

Name your firm, a company or a person, and DFX finds the published routes to Hc2 Capital, LLC: a shared portfolio company or board, a prior employer, a co-investor, a shared LP or service provider. Every step is a filed or published record with its source; none is a guess about who knows whom.

See how you connect to Hc2 Capital, LLC

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Investing

0 companies on record, 0 new in 12 months
Investments on record
0 companies, 0 partner-attributed
No investment on record yet. Edges arrive from the firm’s portfolio page, financing announcements, and Form D board seats.
Stated thesis versus observed behaviour
no observed deals yet
Stated (the firm’s website)
Sectors
not stated or not yet read
Stages
not stated or not yet read
Geography
not stated
Check size
not stated; DFX does not estimate checks from round sizes
Self-described
family office
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors: no observed deals yet
lead rate no observed dealsfollow-on rate no observed dealsnew companies, 12 months 0

Team

7 current, 0 departed
Decision makers
who to call first, and why; then everyone else by function
  • Gabriel Andres Hidalgo · Managing Director
    Why this person: Managing director; Named with investment responsibility
  • Chao Sheng · Class A Member
    Why this person: Named with investment responsibility
  • Guodong Wang · Class A Member
    Why this person: Named with investment responsibility

Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.

Investment team
7 current, 0 departed
Contacts
1 firm phone

1 firm phone on record, each with its source. Values open with the complete profile.

Funds and LPs

41 vehicles, 0 LPs disclosed
Funds and vehicles
41 reported, 14 no longer reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
USC Expo Student Housing Mezz, LPFund · ADV: Private Equity Fund2024 form d first saleEarly deployment$14.6M
Mar 30, 2026
18$15.2MMar 8, 2024
LH Uscre II B, LPFund · ADV: Private Equity Fund2024 adv first reportedEarly deployment$7.8M
Mar 30, 2026
65$0Aug 5, 2022
LH Uscre IV a, LPFund · ADV: Private Equity Fund2024 adv first reportedEarly deployment$2.2M
Mar 30, 2026
5$0Jun 21, 2023
Limited partners
0 LPs, 0 disclosed commitments
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.
Known LPs and allocators
0 relationships across the firm's funds, from public pensions and the allocator graph
No allocator names this firm or its funds in a public disclosure DFX holds.

Relationships across DFX

0 co-investors · on 4 other DFX graphs
Co-investors
0 counted from shared deals, for the whole firm
No co-investor relationship yet: these are derived only from rounds and portfolio listings the graph has seen both investors on.
Across DFX and the capital chainon 4 other DFX graphs Show
Across DFX
Across the graphs

Hc2 Capital, LLC is the same institution as 4 records in Independent Sponsors, Private Equity, RIA and Wealth and Private Credit.

Independent Sponsors1Private Equity1RIA and Wealth1Private Credit1

DFX found 4 relationships across 4 datasets

Which record it is in each graph, what it is called there, and how the two were matched.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Checking your plan…

Evidence and history

72 dated events, 40 observations from 3 sources
Timeline
72 dated events
  1. seen on or beforeSep 24, 2026
    Hc2 Capital, LLC: PE_WITH_VENTURE_ACTIVITY -> CANDIDATE_VC (no sworn venture fact yet (name or round mention only))
    Classification changedClassificationInferenceno URL
  2. Mar 29, 2024
    Hc2 West Gray Development a, LP no longer reported on Form ADV by Hc2 Capital, LLC
    Fund no longer reportedFundsInferenceHc2 West Gray Development a, LPForm ADV
  3. Mar 29, 2024
    Hc2 West Gray Development B, LP no longer reported on Form ADV by Hc2 Capital, LLC
    Fund no longer reportedFundsInferenceHc2 West Gray Development B, LPForm ADV
  4. Mar 29, 2024
    Hc2 Frisco Square Development a, LP no longer reported on Form ADV by Hc2 Capital, LLC
    Fund no longer reportedFundsInferenceHc2 Frisco Square Development a, LPForm ADV
  5. Mar 29, 2024
    LH Uscre I B, LP no longer reported on Form ADV by Hc2 Capital, LLC
    Fund no longer reportedFundsInferenceLH Uscre I B, LPForm ADV
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 30, 2026 · 50 private fundsShow
Headquarters
Dallas, TXadviserinfo.sec.gov
Office address
unknownadviserinfo.sec.gov
Business phone
unknownadviserinfo.sec.gov
SEC adviser type
Registered investment adviseradviserinfo.sec.gov
SEC exemption claimed
unknown
Latest Form ADV
Mar 30, 2026
Private funds reported
50 (0 venture capital funds)adviserinfo.sec.gov
Private fund gross assets, adviser total
$252Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Regulatory AUM
$195Mthe adviser's RAUM, a regulatory measure, never a fund size
Employees
6
Classification history
Every classification this record has carried3 on recordShow
  1. Sep 24, 2026
    Candidate (candidate, 50%)
    No sworn venture fact yet (name or round mention only)
  2. Sep 23, 2026
    Private equity with venture activity (probable, 75%)
    Registered adviser; venture funds are 0% of 50 private funds
  3. Sep 12, 2026
    Private equity with venture activity (probable, 75%)
    Registered adviser; venture funds are 0% of 45 private funds
Evidence
40 observations from 3 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
SEC adviser typeRegistered investment adviserMar 30, 2026FactForm ADV
SEC adviser typeRegistered investment adviserOct 14, 2024FactForm ADV
First Form ADV filing2020-01-27Mar 30, 2026FactForm ADV
First Form ADV filing2020-01-27Oct 14, 2024FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-29Sep 30, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-25Sep 26, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-23Sep 24, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-21Sep 23, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-22Sep 23, 2026FactForm ADV
Adv history loadedadv-hist-1Sep 12, 2026FactForm ADV
Latest Form ADV filing2026-03-30Mar 30, 2026FactForm ADV
Latest Form ADV filing2024-10-14Oct 14, 2024FactForm ADV
Venture share of reported funds0Mar 30, 2026FactForm ADV
Venture share of reported funds0Oct 14, 2024FactForm ADV
Business phoneOct 14, 2024FactForm ADV
DescriptionSep 16, 2026Factno URL
Employees6Oct 14, 2024FactForm ADV
HeadquartersDallas, TXOct 14, 2024FactForm ADV
Office addressOct 14, 2024FactForm ADV
Self-described typeFamily officeSep 16, 2026Factno URL
Portfolio pageSep 16, 2026Factno URL
Private funds reported50Mar 30, 2026FactForm ADV
Private funds reported45Oct 14, 2024FactForm ADV
Private fund gross assets (reported)$252MMar 30, 2026FactForm ADV
Private fund gross assets (reported)$195MOct 14, 2024FactForm ADV
Regulatory AUM (adviser, not fund size)$195MOct 14, 2024FactForm ADV
Venture funds reported0Mar 30, 2026FactForm ADV
Venture funds reported0Oct 14, 2024FactForm ADV
WebsiteOct 14, 2024FactForm ADV
Site titleSep 16, 2026Factno URL
How this is scored
Scores, classification basis and filing advisersCandidate, candidateShow
Importance
4
low
Active deployment
25
moderate
Emerging
0
low
Freshness
100
high
CandidateSEC registered investment adviser

No sworn venture fact yet (name or round mention only)

The inputs behind each score
importance
gav: $0 · funds: 0 · people: 0.24 · investments: 0 · scale basis: Venture-typed funds only (Candidate): 0 funds, $0M of $159M reported · co investors: 0
active deployment
investments 12m: 0 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 1 · latest investment at: not scored
emerging manager
fund count: 55 · reported gav: $159M · first adv filing: 2020-01-27 · years since first filing: 6.7

Fits, record history and connections

scored matches for this investor, every identity change, every edge

Record history

3 identity changes, 2 dated events on the change ledger, latest event first
  • Organization classification changed
    2026-09-24
  • Fund refused
    2026-09-14
  • Fund refused
    2026-09-14

+2 more changes on this record's ledger

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.

Not yet on record: new companies, 12 mo.