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Heritage Group

North America, Tennessee, United States, Nashville

Description

Heritage Group, based in Nashville, Tennessee, is a distinguished venture capital firm with a specialized focus on the healthcare sector. Established in 1986, the firm has built a robust reputation for investing in rapidly growing companies that aim to enhance the affordability, accessibility, and quality of care. Their long-standing presence in the industry, spanning over three decades, underscores their deep expertise and extensive network within healthcare, making them a significant player in the health innovation ecosystem.

Heritage Group primarily targets growth equity and venture capital opportunities within healthcare services and healthcare technology. The firm typically deploys initial investments ranging from $20 million to $40 million in growth equity rounds, aiming to support companies with proven business models ready for significant scaling. Beyond capital, Heritage Group leverages its unique network of 15 leading healthcare systems and organizations, providing portfolio companies with unparalleled strategic insights, operational guidance, and access to potential customers and partners.

With a track record of investing over $1.5 billion across more than 50 healthcare companies since its inception, Heritage Group demonstrates a commitment to long-term partnerships. The firm recently closed its Heritage Healthcare Innovation Fund II in 2021, securing $300 million to continue its investment strategy. While their primary focus is on growth-stage companies, they also participate in earlier-stage venture rounds, where their initial investment may be smaller, reflecting a flexible approach to supporting innovation across the healthcare continuum. Their strategic approach emphasizes not just financial returns but also the transformative impact on the healthcare landscape.

Investor Profile

Heritage Group has backed more than 54 startups, with 4 new investments in the last 12 months alone. The firm has led 21 rounds, about 39% of its total and boasts 17 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series Unknown, Series B, Series C rounds (top funding stages).
  • Majority of deals are located in United States, Israel.
  • Strong thematic focus on Health Care, Software, Information Technology.
  • Led 3 rounds in the past year.
  • Typical check size: $20M – $40M.

Stage Focus

  • Series Unknown (39%)
  • Series B (19%)
  • Series C (15%)
  • Series A (9%)
  • Corporate Round (6%)
  • Pre Seed (4%)
  • Series E (2%)
  • Seed (2%)
  • Series D (2%)
  • Debt Financing (2%)

Country Focus

  • United States (98%)
  • Israel (2%)

Industry Focus

  • Health Care
  • Software
  • Information Technology
  • Medical
  • Hospital
  • Wellness
  • Enterprise Software
  • Biotechnology
  • Pharmaceutical
  • Medical Device
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does Heritage Group frequently co-invest with?

Norwest Venture Partners
North America, California, United States, Palo Alto
Co-Investments: 4
North Bridge Venture Partners & Growth Equity
North America, Massachusetts, United States, Wellesley
Co-Investments: 3
Ascension Ventures
North America, Missouri, United States, Clarkton
Co-Investments: 3
Merck Global Health Innovation Fund
North America, New Jersey, United States, Whitehouse Station
Co-Investments: 3
Excel Venture Management
North America, Massachusetts, United States, Boston
Co-Investments: 3
Noro-Moseley Partners
North America, Georgia, United States, Atlanta
Co-Investments: 3
Flare Capital Partners
North America, Massachusetts, United States, Boston
Co-Investments: 4
Windham Venture Partners
North America, New York, United States, New York
Co-Investments: 3
83North
Europe, England, United Kingdom, London
Co-Investments: 3
HLM Venture Partners
North America, Massachusetts, United States, Boston
Co-Investments: 3

Which angels does Heritage Group often collaborate with?

BM
North America, California, United States, San Diego
Shared Deals: 1
LG
North America, California, United States, San Francisco
Shared Deals: 1
AM
North America, California, United States, San Francisco
Shared Deals: 1
TR
North America, California, United States, San Diego
Shared Deals: 1
Dan Scheinman
North America, California, United States, San Francisco
Shared Deals: 1
SR
North America, New York, United States
Shared Deals: 1
VR
North America, Texas, United States, Austin
Shared Deals: 1
David Eckstein
North America, New York, United States, New York
Shared Deals: 1
VT
North America, Maryland, United States, Lutherville Timonium
Shared Deals: 1

What are some of recent deals done by Heritage Group?

Upward Health

Hauppauge, New York, United States

Upward Health is a home-based medical group specializing in primary medical and behavioral care for individuals with complex needs.

Health CareMedicalService Industry
Series CJan 16, 2025
Nationwide Medical, Inc.

Agoura Hills, California, United States

Nationwide Medical is a medical devices company providing BiLevel/CPAP Supplies.

Health CareMedical
Series UnknownDec 12, 2024
Persperity Health

Los Angeles, California, United States

Persperity Health is pioneering the future of women's health with cutting-edge, non-invasive technology that tracks female hormones.

Health CareMedicalWellness
Pre SeedOct 28, 2024
Amount Raised: $1,000,000
Equiti

Sunrise Beach, Missouri, United States

Equiti is a video-focused language interpretation service provider that helps patients with limited English proficiency.

Health CareHospitalInformation TechnologyTelehealthWellness
Series UnknownSep 10, 2024
Connections

Phoenix, Arizona, United States

Connections provides psychiatric, recovery, patient consulting, professional healthcare and crisis services.

ConsultingHealth CareWellness
Series BOct 5, 2023
Amount Raised: $28,000,000
Wellvana Health

Nashville, Tennessee, United States

Wellvana is a value-based care enabler connecting the healthy outcomes of patients directly to healthier profitability for physicians.

Health CareIT InfrastructureMedical
Series BMar 10, 2023
Amount Raised: $84,000,000
P2 Science

Woodbridge, Connecticut, United States

P2 Science develops a bio-refining process for the conversion of biomass such as vegetable oils into high-value specialty chemicals.

BiotechnologyChemicalRenewable Energy
Series UnknownFeb 23, 2023
Monogram Health

Brentwood, Tennessee, United States

Monogram Health is a specialty provider of evidence-based in-home care and benefit management services for polychronic patients.

Health CareHospitalWellness
Series CJan 9, 2023
Amount Raised: $375,000,000
Valera Health

Brooklyn, New York, United States

Valera Health is a tech-enabled mental health company delivering inclusive and tailored care.

Health CareMental HealthmHealthWellness
Series UnknownOct 7, 2022
Amount Raised: $45,000,000
ZwitterCo

Cambridge, Massachusetts, United States

ZwitterCo provides membrane solutions for the treatment of highly-impaired wastewater.

RecyclingSustainabilityWaste ManagementWaterWater Purification
Series ASep 15, 2022
Amount Raised: $33,000,000