Cadoc Capital
A concentrated global microcap fund
What Cadoc invests in
Small companies on the path to greatness, priced as if the journey has yet to begin.
Investment Research on Substack
Sam McColgan
Sam has staked a significant share of his own net worth on a simple conviction, that a small fund doing deep primary work in global microcaps can radically outperform over sustained periods. He founded Cadoc Capital to act on that conviction.
He came to investing through civil engineering, years running his family's capital, and an equity analyst internship at Capital Group. A Welshman who has called five countries home, he invests from Japan, where he lives with his family. He co-led the microcap community Breakout Investors and was Chief Investment Officer of Stanford GSB's $500k Student Fund, graduating in 2026.