Caleb Karpay advises private funds, investors, entrepreneurs, and digital asset developers on corporate and securities law.


He has formed numerous domestic and offshore venture capital, credit, real estate, and hedge funds, along with a variety of special-purpose vehicles to facilitate investment in early-stage companies. Mr. Karpay also has extensive experience counseling clients on the federal and state securities laws impacting funds, advisers, and investors.

In addition to his investment management experience, Caleb frequently works with entrepreneurs in the FinTech, cryptocurrency, biotech, and retail industries on corporate formation, fundraising, and the structuring of their employment and incentive compensation agreements. He has negotiated dozens of equity, convertible debt, SAFE, and crowdfunding investments.

Mr. Karpay joined The Rodman Law Group as Of Counsel in 2021 after practicing for six years in Washington, D.C., and New York. He began his career in the Asset Management group at Fried, Frank, Harris, Shriver & Jacobson LLP before moving to the Investment Management group at Pryor Cashman LLP.

He served as a law clerk on the Maryland Court of Special Appeals and holds a J.D. magna cum laude from the University of Maryland School of Law, and a B.A. in Political Science from Brown University.


  • Maryland, 2014
  • Washington, D.C., 2016
  • New York, 2017
  • Colorado, 2023


  • JD – University of Maryland School of Law 2014
  • BA – Brown University 2008

Positions Held

  • Associate Attorney – Pryor Cashman
  • Associate Attorney – ¬†Fried, Frank, Harris, Shriver & Jacobson LLP
  • Judicial Law Clerk – Maryland Court of Special Appeals