Yes, but you may have to start it with:

mono --runtime=v4.0 NuGet.exe

You can also create a NuGet.exe.config file (put it in the same directory as NuGet.exe) to the same effect:

  <configuration>
    <startup>
      <supportedRuntime version="v4.0" />
    </startup>
  </configuration>

Whether you need it will depend on which runtime is enabled by default in your Mono installation. This can vary by system.

Also, you may need a fairly recent version of Mono to run NuGet; there was a bug in Mono that prevented NuGet from running, which was fixed only a few months ago.