About

A Different Kind of Capital Partner

Varent Capital was founded on a straightforward observation: collegiate athletic departments operate in one of the most financially complex environments in American sports, and the capital markets have never built anything specifically for them.

We exist to change that. Varent provides structured, contract-backed financing solutions designed around the specific governance requirements, revenue structures, and timelines of collegiate athletic programs.

Meet the Team

The Roster
Steve Ham
Steve Ham
+ Read bio
Chief Executive Officer

Steve is a private equity investor and senior executive with over 20 years of experience across private equity, technology, and venture capital. His career includes roles at The Carlyle Group, RedZone Capital, Sterling Partners, Thomas Weisel, and Citigroup.

In 2018, Steve and Pat co-founded Altmore Capital — a private investment firm focusing on regulatory arbitrage opportunities that has invested over $450 million since inception.

Prior to Altmore, he built and managed a family office and hedge fund alongside a former NFL franchise owner — an experience that shaped both his investment discipline and his understanding of how sports organizations operate at the highest levels. He has invested and exited over $3 billion in transactions. Steve graduated from the University of Illinois.

Patrick Kim
Patrick Kim
+ Read bio
President

Pat's career spans private investment, complex litigation, and management consulting. In 2018, Pat co-founded Altmore Capital with Steve, where the firm has closed over $450 million of financings since inception.

Before Altmore, Pat spent nearly a decade as a partner at Williams & Connolly in Washington D.C., where he represented major financial institutions and investment funds, including several top-tier private equity firms, in a range of commercial litigation matters and government investigations.

Prior to that, Pat was a management consultant with McKinsey & Company in New York, specializing in Corporate Finance & Strategy, Financial Institutions and Media & Entertainment. He holds a JD from Harvard Law School and a degree from the University of Michigan.

Jonathan Ganter
Jonathan Ganter
+ Read bio
Chief Operating Officer

Jon is a seasoned executive and former law firm partner whose career spans investment management, private law practice, institutional business leadership, and the federal government. He has spent the past five years at Altmore Capital, serving as the private investment firm's COO. At Kirkland & Ellis, he represented Fortune 500 and multinational clients in complex litigation and restructuring matters. Earlier in his career, Jon served in the White House Counsel's Office and at the U.S. Department of Justice, and subsequently helped lead a portfolio of digital health businesses at Rally Health, part of UnitedHealth Group.

Jon holds a JD/MBA from the University of Virginia and graduated from Princeton University, where he lettered as a safety on the varsity football team. He brings a firsthand understanding of the business of intercollegiate athletics, shaped by both his own experiences and a family deeply rooted in major college football. That perspective informs his work with universities navigating the financial and operational realities of the modern college sports landscape.

Michael Villapiano
Michael Villapaino
+ Read bio
Chief Revenue Officer

Mike brings over a decade of investment management experience to Varent, with a background spanning institutional fundraising, credit investing, and real assets. He joined Altmore Capital in 2021, where he is a Managing Director and leads the firm's business development. Mike previously held roles at Golub Capital across both the fundraising and investment functions, and worked on a team responsible for managing Rhode Island's defined-benefit pension plan. He also focused on industrial real estate investment at Sands Investment Group.

Mike graduated from Brown University with a degree in Applied Mathematics and Economics, where he was a quarterback on the varsity football team. He brings a firsthand understanding of the business of sports at both the collegiate and professional levels, shaped by his own experience and a family background in the NFL. That background gives Mike a distinctive lens for identifying and building relationships within the college athletics ecosystem.

Cyrus Yi
Cyrus Yi, CPA
+ Read bio
Chief Financial Officer

Cyrus has over nine years of experience across investment management, private equity and M&A consulting. He serves as CFO of both Varent Capital and Altmore Capital, where he has led the firm's financial operations since joining in 2023.

Prior to Altmore, he was a Manager with PwC in Washington D.C., where he advised private equity and strategic clients on buy-side and sell-side M&A deals with values up to $10 billion. He has also accumulated cross-border tax planning, portfolio management, and fund finance experience at KPMG, Capital One, and Accretive. Cyrus is a licensed CPA, received his B.S. Summa Cum Laude from Fordham University, and earned his Master's degree from the College of William and Mary.

Ryan MacDonald
Ryan MacDonald
+ Read bio
Vice President

Ryan brings a background in investment management, technology, strategy, and business development to Varent. Ryan joined Altmore Capital in 2021 and leads the firm's investor relations. He previously founded and led AYL, a B2B software consulting firm serving clients ranging from $10 million to $100 million in revenue. Before that, he held a strategy and sales leadership role at Seismic, a Forbes Cloud 100 company valued at $3 billion.

Ryan graduated from Brown University with a degree in Business, Entrepreneurship and Organizations, lettered as an all-Ivy safety on the varsity football team, and is a member of the National Football Foundation's Hampshire Honor Society. He also holds an Applied Business Analytics certificate from MIT Sloan.

Tyler Sullivan
Tyler Sullivan
+ Read bio
Vice President

Tyler brings experience in structured credit to Varent, having joined Altmore Capital in 2021 where he serves as the firm's lead underwriter. Prior to Altmore, Tyler spent four years at EverBank in the Philadelphia area, where he was responsible for underwriting and managing structured credit transactions in the Specialty & Lender Finance group. Tyler graduated with a B.S. in Finance from Wake Forest University.

Ray Gao, CFA
Ray Gao, CFA
+ Read bio
Associate Vice President

Ray is a member of Varent's underwriting and business development teams. Prior to joining Altmore Capital as an underwriter in 2022, he worked in the Department of International Transaction and Banking at Bank of China, where he covered nationwide M&A transactions and performed credit analysis and due diligence. Ray holds an M.S. in Applied Economics with a concentration in Finance from Johns Hopkins University and a B.S. in Economics from Juniata College.

Ricco Dong
Ricco Dong
+ Read bio
Senior Accountant

Ricco is an experienced financial professional with a diverse background in accounting, tax, and operations. She has a proven track record managing financial operations across tech startups, property management, public accounting, and non-profit organizations — with a strong foundation across accounting sectors that positions her well to navigate the complex demands of fund accounting.

TBD
Advisor Name
+ Read bio
Title / Affiliation
Background · Credential

Advisor bio placeholder. Background, experience, and relevant credentials will appear here once confirmed.

Our team brings deep roots in structured finance, law, and the culture of competitive athletics — experience that shapes how we build deals, how we communicate with partners, and how we think about relationships over the long term.

We are not a generalist lender that wandered into this market. We are a firm that was built for it.

Ready to see what’s possible?