About CAT Ventures

Advising, building, investing — the thread is always the same: understanding how capital behaves when it’s under real pressure.

My career has been shaped by a persistent instinct to make non-obvious connections missed by conventional analysis. I design the frameworks, identify the right collaborators, and engineer solutions across disciplines.

I started in sell-side equity research at the height of the dot-com bubble — a formative introduction to what happens when markets ignore downside asymmetry. I later focused on global shipping and transportation: real estate on steroids, capital-intensive, cyclical, and brutally unforgiving of poor capital allocation. That lens shaped how I think about every asset class since. I then joined CSL Capital Management, a private equity firm in energy services, where my exposure to commodity and energy cycles deepened further — including firsthand experience with the consequences of the Fukushima disaster, and the observation that even the most broken sectors can become impossible to short when sovereign balance sheets decide to keep them alive. That experience planted a question I’ve been working on ever since: how do you build risk frameworks that remain valid when the rules of capital allocation are being rewritten by fiscal forces most of Wall Street has never had to price?

CAT Ventures LLC is a family office and investment platform active across capital markets research, energy transition, and real assets. My current research centers on two frameworks developed in collaboration with Prof. G. Michael Phillips (MacroRisk Analytics):

The Strategic Governance Factor (SGF) treats governance as the corporate operating system driving long-term capital outcomes. SGF is a research program under active development; published working papers address specific components as the framework evolves.

The Antifragile Capital Efficiency (ACE) diagnostic is a multiplicative capital efficiency tool designed for insurance allocators operating any of the major regulatory regimes.

This work is applied risk engineering: building durable analytical infrastructure for a period of fiscal dominance that is reordering how capital should be evaluated, allocated, and protected — territory that remains deeply unfamiliar to most institutional frameworks trained on the prior regime.

I also serve as Board Observer at RNWBL Inc., the largest independent operations and maintenance platform for utility-scale wind, solar, and battery energy storage in North America, and maintain advisory engagements in critical minerals relevant to defense and battery technology.

Jin S. Chun, CFA, FRM
Managing Partner