Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.

Firms / Blue Heron Capital Management, LLC

Blue Heron Capital Management, LLC

Institutional venture firmRichmond, VAblueheroncap.comSEC venture capital fund adviser

We are an early-stage growth equity firm funding big ideas in healthcare and enterprise technology. Using the powerful combination of financial capital and

venture manager, reported GAV $252M across 24 vehicles

Importance
34
moderate
Active deployment
29
moderate
Emerging
0
low
Completeness
75
high
Freshness
100
high
Research priority
11
low
Identity and regulatory footprint
Headquarters
Richmond, VAadviserinfo.sec.gov
Office address
1806 SUMMIT AVENUE, SUITE 200, Richmond, VA, 23230adviserinfo.sec.gov
Business phone
(202)246-3009adviserinfo.sec.gov
SEC adviser type
exempt reporting adviseradviserinfo.sec.gov
SEC exemption claimed
venture capital fund adviseradviserinfo.sec.govItem 2.B(1): advises solely venture capital funds
Latest Form ADV
Mar 31, 2026
Private funds reported
23 (23 venture capital funds)adviserinfo.sec.gov
Private fund gross assets
$301Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
business email
info@blueheroncap.comblueheroncap.compublished by the subject
business phone
(804) 212-3400adviserinfo.sec.govpublished by the subject
business phone
(202)246-3009adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
1 observed deals
Stated (the firm’s website)
Sectors
enterprise software, healthcare
Stages
growth, early
Geography
not stated
Check size
not stated; DFX does not estimate checks from round sizes
Self-described
growth investor
Observed (from deals on record)
Stage at participation
series a 100%
Stage at first entry
series a 100%
Sectors
unknown 100%
lead rate 100%follow-on rate 0%new logos, 12 months 1
Funds and vehicles
24 reported, 4 no longer reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
BHC Pf Co-Invest, LLCSPV or co-invest vehicle2023 adv first reportedActive deployment$14.0M
Jul 1, 2024
68unknownunknown
BHC Hc Co-Invest III, LLCSPV or co-invest vehicle2023 adv first reportedActive deployment$13.2M
Jul 1, 2024
33unknownunknown
Blue Heron Capital Fund Iii-A, LPFeeder or parallel2023 adv first reportedActive deployment$11.1M
Jul 1, 2024
31unknownunknown
BHC Mw Co-Invest, LLCSPV or co-invest vehicle2023 form d first saleActive deployment$510,000
Jul 1, 2024
13$410,000
of $410,000
Jun 8, 2023
BHC PF Co-Invest, LLCSPV or co-invest vehicle2023 form d first saleNewly closedunknownunknown$8.5M
of $8.5M
Aug 27, 2025
Blue Heron Capital Fund III, LPFund2022 form d first saleActive deployment$87.5M
Jul 1, 2024
129$81.1M
of $100M
Mar 14, 2023
BHC Ys Co-Invest, LLCSPV or co-invest vehicle2022 form d first saleActive deployment$2.5M
Jul 1, 2024
15$2.5M
of $2.5M
Sep 22, 2022
BHC Ax Co-Invest, LLCSPV or co-invest vehicle2022 form d first saleActive deployment$1.6M
Jul 1, 2024
24$1.6M
of $1.6M
Dec 30, 2022
BHC Ct Co-Invest, LLCSPV or co-invest vehicle2021 form d first saleFundraising$4.4M
Jul 1, 2024
34$4.2MMay 5, 2025
BHC Aw Co-Invest, LLCSPV or co-invest vehicle2020 form d first saleMature$8.9M
Jul 1, 2024
37$500,000Dec 22, 2020
BHC Is Co-Invest, LLCSPV or co-invest vehicle2020 form d first saleMature$1.2M
Jul 1, 2024
15$1.0MDec 22, 2020
BHC Vd Co-Invest, LLCSPV or co-invest vehicle2020 form d first saleMature$308,532
Jul 1, 2024
2$325,000Jul 15, 2020
BHC Ac Co-Invest, LLCSPV or co-invest vehicle2020 form d first saleMature$209,262
Jul 1, 2024
3$100,000Aug 26, 2020
BHC Hc Co-Invest II, LLCSPV or co-invest vehicle2019 form d first saleMature$26.3M
Jul 1, 2024
18$1.7MNov 5, 2019
BHC Ch Co-Invest, LLCSPV or co-invest vehicle2019 form d first saleMature$4.2M
Jul 1, 2024
33$1.5MNov 15, 2019
BHC Hc Co-Invest LPSPV or co-invest vehicle2018 form d first saleHarvest$2.5M
Jul 1, 2024
2$250,000
of $250,000
Jan 25, 2018
BHC St Co-Invest LPSPV or co-invest vehicle2017 form d first saleHarvest$242,939
Jul 1, 2024
26$1.8M
of $1.8M
Nov 23, 2020
BHC Ap Co-Invest LPSPV or co-invest vehicle2016 form d first saleHarvest$0
Jul 1, 2024
10$876,000Mar 28, 2019
BHC Tc II Co-Invest LPSPV or co-invest vehicle2016 form d first saleHarvest$0
Jul 1, 2024
6$235,000
of $235,000
Sep 20, 2016
BHC Vs Co-Invest LPSPV or co-invest vehicle2015 form d first saleHarvest$36,587
Jul 1, 2024
22$1.0M
of $2.3M
Feb 12, 2016
BHC Tc Co-Invest LPSPV or co-invest vehicle2015 form d first saleHarvest$0
Jul 1, 2024
3$115,000
of $115,000
Sep 2, 2015
Blue Heron Capital Fund I, LPFund2013 form d first saleHarvest$19.4M
Jul 1, 2024
64$25.4M
of $50.0M
Aug 7, 2015
Blue Heron Capital Fund II, LPFundunknownUnknown$48.7M
Jul 1, 2024
70$0
of $75.0M
Oct 31, 2018
BHC Vt Co-Invest, LLCSPV or co-invest vehicleunknownUnknown$4.8M
Jul 1, 2024
15$0Dec 20, 2018
BHC Az Co-Invest LPSPV or co-invest vehicleunknownWound down$7.1M
Oct 20, 2021
28unknownunknown
BHC Pl Co-Invest LPSPV or co-invest vehicleunknownWound down$17,725
Mar 30, 2023
20unknownunknown
BHC Pl II Co-Invest LPSPV or co-invest vehicleunknownWound down$0
Mar 30, 2023
5unknownunknown
BHC Dm Co-Invest LPSPV or co-invest vehicleunknownWound down$0
Oct 20, 2021
2unknownunknown
GAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.
Investment team
12 current, 0 departed
Investments on record
1 edges, 1 companies, 0 partner-attributed
CompanyRoundRolePartnerRound sizeThis investorDateSource
Remission MedicalSeries A · Series AleadunknownunknownunknownApr 13, 2026Fact Press release wires (Business Wire, PR Newswire, GlobeNewswire public RSS)
“This investor” is the amount disclosed for this investor alone; it is unknown unless a source said it. The round size is the whole round.
Co-investors
1 relationships from shared deals, counted for the whole firm
Limited partners
0 disclosed
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.
Timeline
32 dated events
  1. Mar 29, 2024
    BHC Pl Co-Invest LP no longer reported on Form ADV by Blue Heron Capital Management, LLC
  2. Mar 29, 2024
    BHC Mw Co-Invest, LLC first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $510,000
  3. Mar 29, 2024
    BHC Pl II Co-Invest LP no longer reported on Form ADV by Blue Heron Capital Management, LLC
  4. Mar 30, 2023
    Blue Heron Capital Fund Iii-A, LP first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $9,069,800
  5. Mar 30, 2023
    Blue Heron Capital Fund III, LP first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $69,033,500
  6. Mar 30, 2023
    BHC Pf Co-Invest, LLC first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $5,487,641
  7. Mar 30, 2023
    BHC Hc Co-Invest III, LLC first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $13,182,513
  8. Mar 30, 2023
    BHC Ys Co-Invest, LLC first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $2,500,000
  9. Mar 30, 2023
    BHC Ax Co-Invest, LLC first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $1,657,692
  10. Mar 30, 2022
    BHC Ct Co-Invest, LLC first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $1,395,000
  11. Mar 30, 2022
    BHC Az Co-Invest LP no longer reported on Form ADV by Blue Heron Capital Management, LLC
  12. Mar 30, 2022
    BHC Dm Co-Invest LP no longer reported on Form ADV by Blue Heron Capital Management, LLC
  13. Mar 30, 2021
    BHC Aw Co-Invest, LLC first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $500,000
  14. Mar 30, 2021
    BHC Is Co-Invest, LLC first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $1,000,000
  15. Nov 6, 2020
    BHC Vd Co-Invest, LLC first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $325,000
  16. Nov 6, 2020
    BHC Ac Co-Invest, LLC first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $100,000
  17. Mar 31, 2020
    BHC Ch Co-Invest, LLC first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $1,500,000
  18. Mar 31, 2020
    BHC Hc Co-Invest II, LLC first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $1,739,945
  19. Jan 3, 2019
    Blue Heron Capital Fund II, LP first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $14,850,000
  20. Jan 3, 2019
    BHC Pl Co-Invest LP first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $1,071,101
  21. Jan 3, 2019
    BHC Dm Co-Invest LP first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $250,000
  22. Jan 3, 2019
    BHC Tc Co-Invest LP first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $46,985
  23. Jan 3, 2019
    BHC Tc II Co-Invest LP first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $96,014
  24. Jan 3, 2019
    BHC Vs Co-Invest LP first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $3,899,818
  25. Jan 3, 2019
    BHC Vt Co-Invest, LLC first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $1,000,000
  26. Jan 3, 2019
    Blue Heron Capital Fund I, LP first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $26,139,204
  27. Jan 3, 2019
    BHC St Co-Invest LP first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $1,334,297
  28. Jan 3, 2019
    BHC Az Co-Invest LP first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $2,165,354
  29. Jan 3, 2019
    BHC Ap Co-Invest LP first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $622,297
  30. Jan 3, 2019
    BHC Pl II Co-Invest LP first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $191,269
  31. Jan 3, 2019
    Blue Heron Capital Management, LLC first filed Form ADV (ERA, venture capital fund adviser exemption)
  32. Jan 3, 2019
    BHC Hc Co-Invest LP first reported on Form ADV by Blue Heron Capital Management, LLC (Venture Capital Fund), GAV $276,666
Classification history
  1. Sep 13, 2026
    Institutional venture firm (confirmed, 95%, cls-1)
    venture manager, reported GAV $252M across 24 vehicles
  2. Sep 12, 2026
    Institutional venture firm (confirmed, 95%, cls-1)
    venture manager, reported GAV $252M across 23 vehicles
Evidence
52 observations from 3 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
Why admittedvc_exemption,vc_funds_reportedMar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
SEC exemption claimedventure_capital_fund_adviserMar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
SEC exemption claimedventure_capital_fund_adviserJul 1, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
SEC adviser typeexempt_reporting_adviserMar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
SEC adviser typeexempt_reporting_adviserJul 1, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
First Form ADV filing2019-01-03Jul 1, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Adv history loadedadv-hist-1Sep 12, 2026FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Latest Form ADV filing2026-03-31Mar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Latest Form ADV filing2024-07-01Jul 1, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
SEC statusERA - ActiveMar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
SEC status effective2019-01-03Mar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Venture share of reported funds1Jul 1, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Business phone(202)246-3009Mar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Business phone(804) 212-3400Jul 1, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Contact page urlhttps://www.blueheroncap.com/contact/
contact page linked from the home page
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
DescriptionWe are an early-stage growth equity firm funding big ideas in healthcare and enterprise technology. Using the powerful combination of financial capital and
meta description
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
DescriptionWe are an early-stage growth equity firm funding big ideas in healthcare and enterprise technology. Using the powerful combination of financial capital and
meta description
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
HeadquartersRichmond, VAMar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
HeadquartersRichmond, VAJul 1, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Office address1806 SUMMIT AVENUE, SUITE 200, Richmond, VA, 23230Mar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Office address1806 SUMMIT AVENUE, SUITE 200, Richmond, VA, 23230Jul 1, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Self-described typegrowth_investor
We are an early-stage growth equity firm funding big ideas in healthcare and enterprise technology.
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Self-described typegrowth_investor
We are an early-stage growth equity firm funding big ideas in healthcare and enterprise technology.
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Legal formLimited Liability CompanyMar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Legal formLimited Liability CompanyJul 1, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Private funds reported23Mar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Private funds reported23Jul 1, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Private fund gross assets (reported)$301MMar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Private fund gross assets (reported)$252MJul 1, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Stated sectorsenterprise_software,healthcare
sector words on the home page
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Stated sectorsenterprise_software,healthcare
sector words on the home page
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Stated stagesgrowth,early
stage words on the home page
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Stated stagesgrowth,early
stage words on the home page
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Team pagehttps://www.blueheroncap.com/our-team/
10 name/title pairs read
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Team pagehttps://www.blueheroncap.com/our-team/
9 name/title pairs read
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Venture funds reported23Mar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Venture funds reported23Jul 1, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
WebsiteHTTP://WWW.BLUEHERONCAP.COMMar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
WebsiteHTTP://WWW.BLUEHERONCAP.COMJul 1, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Site titleHome - Blue Heron Capital
title tag
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Site titleHome - Blue Heron Capital
title tag
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)