Heritage Healthcare Innovation
Heritage Healthcare Innovation last closed a fund in April 2023 — 43 months ago. By its own rhythm, that is inside the window where it usually raises again.
Heritage Healthcare Innovation has raised 4 times about every 49 months. The last was Heritage Healthcare Innovation Fund IV, LP. That points to May 2027 — it is inside its window now.
Historically about 1 in 4 firms in this position filed within a year. The month is approximate — how often this is right.
Late-cycle This firm is deep enough into its last fund that a new one would not be a surprise.
Still filing with the SEC: April 2025. That is an amendment to an existing offering, not a new fund - which is what an evergreen structure looks like in this data.
- Funds on file
- 5
- Capital raised
- $839M
- Latest close
- April 2023
- Based in
- TN
Vehicles on file
| Vehicle | First close | Amount | Filings |
|---|---|---|---|
| Heritage Healthcare Innovation Fund IV, LP | April 2023 | $344M | 0001961281 ↗ |
| Heritage Group Monogram Holdings, LP | December 2022 | $10M | 0001957351 ↗ |
| Heritage Healthcare Innovation Fund III, LP | May 2019 | $307M | 0001778007 ↗ |
| HERITAGE HEALTHCARE INNOVATION FUND II, LP | April 2015 | $100M | 0001641624 ↗ |
| Heritage Healthcare Innovation Fund, LP | January 2011 | $78M | 0001511027 ↗ |
Each row links to that vehicle’s Form D filings on EDGAR — the name, date and amount above should match what is filed there.
Named on filings
David McClellan, Rock Morphis, Graham Hunter, Jesse Bland, Lauren Brueggen, Paul Wallace, Bryan Bui, See Comments See Comments
What Heritage Healthcare Innovation invests in
- Typical fund
- $100M median, early stage, Series A-B scale
- Says it invests in
- health/bio
- Website
- heritagegroupusa.com
Sector and stage are quoted from the firm’s own website, not inferred, and dated.
Service providers
- Fund administrator
- TMF (4 funds)
- Auditor
- Lattimore Black Morgan & CAIN (4 funds)
From Form ADV filed by HG CAPITAL MANAGEMENT, LLC CRD 163613 ↗, latest filing March 2026, covering 4 funds linked to this firm by Form D file number. Form ADV is filed once a year, so a provider may have changed since. How this is matched.
What this is. Every figure on this page comes from Form D filings with the U.S. Securities and Exchange Commission — public records, reproduced here as filed. Service providers, where shown, come from the adviser’s Form ADV and are dated.
What it is not. Single-deal SPVs, feeder vehicles and GP or employee commitment funds are listed but excluded from fund counts and capital totals: an SPV is one investment, a feeder holds the same capital as its master, and a “Principals” or “Entrepreneurs” fund closes alongside a main fund rather than being raised in its own right. Capital deployed from a family office, a corporate balance sheet or an evergreen structure never arrives as a fund close, so a firm doing that looks quiet here. Amounts are as of the last amendment and go stale. Dates are the date of first sale — a fund's first close, not its final one. Funds filed as “Indefinite” are excluded from totals rather than counted as zero, so a total is a floor.
“No recent fund” is a statement about filings. It is not a statement about whether a firm is solvent, investing, or still in business.