Michael J. Hsu, Former Comptroller of the Currency, Joins Core Innovation Capital as Venture Partner

Core Innovation Capital, a Los Angeles-based early-stage venture capital firm focused on platforms that power wealth and health for the mass market, announced that Michael J. Hsu has joined the firm as Venture Partner. Hsu most recently served as Acting Comptroller of the Currency and brings more than two decades of institutional experience across the Office of the Comptroller of the Currency, the Federal Reserve, the U.S. Treasury, and the International Monetary Fund, according to the company's announcement.

At Core VC, Hsu will work with founders from the earliest stages to anticipate regulatory hurdles, engage with policymakers, and design strategies that align innovation with safety, soundness, and fairness. The firm said his background in financial stability, AI risk, and consumer protection gives portfolio companies an advantage in regulated markets, particularly in fintech, benefits, embedded finance, and AI governance.

Hsu described the move as a shift from supervising to building. "As Acting Comptroller, I had a front-row seat to both the promise and the pitfalls of financial innovation," he said, adding that he aims to work with entrepreneurs building platforms that expand access, lower costs, and create trust at scale.

Core VC's founder and managing partner, Arjan Schütte, said the firm has shown that investing in mass-market companies is "exceptional business." He said Hsu's leadership at the highest levels of financial oversight gives the portfolio a rare advantage in regulated markets. Since 2010, the firm has backed Ripple, NerdWallet, PayJoy, Kikoff, Attain, and HealthSherpa. Core aims to improve the lives of 200 million people by 2035 and generate $1 trillion in aggregate wealth creation and cost savings.

The announcement did not disclose the terms of Hsu's appointment or the size of any fund associated with the role.