Welcome to Blackworks Capital
Blackworks Capital manages a founder-led systematic hedge fund, where rules-based discipline meets founder conviction, backed by capital we invest alongside yours.
Founder Alignment
Your Capital. Our Capital. The Same Strategy.
Blackworks Capital’s fund, the BWC Founders Fund, was named for a reason. Rogan McGillis, the Founder and Fund Manager, invests his own capital alongside every investor — ensuring that every risk decision is made with the stewardship of a partner, not just a manager.
Before founding Blackworks Capital, Rogan co-founded ARB Midstream, a private-equity-backed midstream energy company, and spent ten years as its Chief Financial Officer and a board member. Leadership →
- Founder capital invested directly in the fund under identical terms and risk exposure as every partner
- Direct access to the Founder and Fund Manager — the architect of the strategy — not a sales desk or intermediary
- Full transparency through monthly investor letters, performance reporting, and open dialogue on systematic decision-making
While our strategies are driven by code, our relationship with investors is driven by a commitment to personal partnership.
Rogan McGillis — Founder & Fund Manager
Investment Approach
Rules, Written in Advance. Not Discretion in the Moment.
Every strategy evaluates five different forces that move the markets, and three factors express those forces in the fund’s positioning: momentum, mean reversion and cross-asset correlation.
The fund runs on thousands of rules, each tested against decades of data. When the rules’ conditions are met, the program buys or sells on its own. No committee approves it.
- The economy
- Technical price action
- Options and futures positioning
- Company fundamentals
- Investor sentiment
Fund Performance
Performance Snapshot
Net returns since inception (March 2025 - September 2026), against the S&P 500 Total Return.
Independent Oversight
- Administrator
RePool, Inc. calculates the fund’s NAV and sends each investor an official financial statement every month.
- Auditor
Cherry Bekaert LLP audits the fund every year.
- Structure
BWC Founders Fund, LLC, a Delaware LLC.
- Reporting
The Fund Manager writes an Investor Letter and factsheet every month, sent since March 2025. Read past Investor Letters →
Net monthly returns after all fees and expenses, compounded from inception. S&P 500 Total Return figures are index returns and bear no fees. Down-market months chains the months in which the index fell; no investor held the fund for only those months. Sharpe ratio and alpha are calculated from net returns; the methods are on the fund page. Past performance is not indicative of future results.
Next step
Start a Conversation
Read our latest Investor Letter to learn more about our systematic approach to investing and the five forces shaping global markets.
Investment in the fund is open only to accredited investors who are also qualified clients. Anyone may read the Investor Letter.