Backing Category Winners in Stigmatized Markets
Portfolio
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JAMES BAILEY
Managing General Partner
James is the Founder of Bail Capital and Velos Partners and is considered to be one of the most experienced investors in emerging, stigmatized sectors including cannabis, nicotine, and psychedelics. Over the past decade, he has backed some of the most consequential companies in the space including JUUL, PAX, Compass Pathways, MindMed, Mindbloom, and Kiva; often serving as their first institutional capital. James has a track record of turning stigmatized sectors into category-defining businesses by spotting opportunities where others see risk.
With a strong network across public and private markets, James has earned a reputation for his early pattern recognition and long-term commitment to founders. He holds board and advisory roles across the Bail portfolio and continues to lead the firm’s category-first strategy.
MICHAEL CAM-PHUNG
General Partner
Michael brings two decades of investment and operating experience, most recently serving as Chief Strategy Officer at Seisa Medical. There, he led M&A and corporate development, driving the company through multiple acquisitions and a successful multi-hundred million dollar exit. Prior to Seisa, Michael was a Principal at Highland Consumer Partners, where he sourced, structured and managed growth-stage investments across consumer and healthcare verticals. His background also includes investment banking at William Blair and BMO Capital.
At Bail Capital, Michael blends his operator-investor experience to support category-leading founders navigating complex, regulated markets. His work spans deal sourcing, diligence and portfolio development across therapeutics, medical devices and functional consumer products. He currently sits as a board observer for several Bail-backed companies.
BRENT COX
General Partner
Brent has deep experience across private equity, structured finance and distressed investing. He spent nearly a decade at The Yucaipa Companies, leading investments and restructurings in sectors including logistics, real estate, and consumer. His deal work ranged from the $400M leveraged buyout of Soho House to the $2.2B restructuring of Eimskipafelag Islands. Brent began his finance career at Jefferies in the Leveraged Finance and Financial Sponsors Group, where he helped close over $2B in debt transactions.
At Bail Capital, Brent leads underwriting, capital strategy, and fund structuring. He brings an institutional lens to unconventional sectors, ensuring Bail operates with the discipline and credibility required by top-tier LPs. His expertise in turnarounds and scaling platforms makes him a key partner to founders operating in highly dynamic markets.
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