DFX Intelligence
Venture Capital Intelligence
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 / HCG Fund Management LP
HCG Fund Management LP
venture manager, reported GAV $108M across 5 vehicles
Importance
19
moderate
Active deployment
0
low
Emerging
0
low
Completeness
63
high
Freshness
100
high
Research priority
4
low
Identity and regulatory footprint
- Headquarters
- Raleigh, NCadviserinfo.sec.gov
- Office address
- 133 FAYETTEVILLE STREET, 3RD FLOOR, Raleigh, NC, 27601adviserinfo.sec.gov
- Business phone
- 919-300-7702adviserinfo.sec.gov
- Website
- HTTPS://WWW.HCGFUNDS.COM
- SEC adviser type
- registered investment adviseradviserinfo.sec.gov
- SEC exemption claimed
- unknown
- Latest Form ADV
- Mar 27, 2026
- Private funds reported
- 10 (5 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $347Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Regulatory AUM
- $347Mthe adviser's RAUM, a regulatory measure, never a fund size
- Employees
- 11
- Owners on Schedule A
- MIJ Analytics, LLC (Member), C; Jenesem LLC (Member), C; HCG Funds LLC (General Partner), NA
- business email
- info@hcgfunds.comhcgfunds.compublished by the subject
- business phone
- 919-300-7702adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
no observed deals yet
Stated (the firm’s website)
- Sectors
- fintech, consumer
- Stages
- pre seed, seed, series a, early
- Geography
- usa
- Check size
- not stated; DFX does not estimate checks from round sizes
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors: no observed deals yet
lead rate n/afollow-on rate n/anew logos, 12 months 0
Funds and vehicles
5 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| HCG Flex Coinvest C LLC | SPV or co-invest vehicle | 2021 form d first sale | Mature | $1.4M Mar 27, 2024 | 15 | $1.5M of $1.5M | Nov 1, 2021 |
| HCG Point Coinvest B LLC | SPV or co-invest vehicle | 2021 form d first sale | Mature | $169,487 Mar 27, 2024 | 7 | $385,000 of $385,000 | Apr 6, 2021 |
| HCG Digital Ventures II, LP | Fund | 2020 form d first sale | Mature | $13.5M Mar 27, 2024 | 50 | $4.1M of $20.0M | Jun 24, 2021 |
| HCG Digital Ventures, LP | Fund | 2020 form d first sale | Mature | $9.4M Mar 27, 2024 | 33 | $5.5M of $20.0M | Feb 16, 2021 |
| HCG Finance Dac | SPV or co-invest vehicle · ADV: Other Private Fund | 2019 adv first reported | Mature | $83.1M Mar 27, 2024 | 4 | unknown | unknown |
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
4 current, 1 departed
Fintech Venture
PartnerPioneer. Innovator. Partner.
Hadi Fred Habal
PartnerSole Member · since Nov 1, 2014
Jose Novel Penabad
PartnerMember · since Nov 1, 2014
Gretta Jane Heaney
Platform and operationsChief Compliance Officer · since Apr 1, 2018
1 departed (kept with end dates)
- Gregory Daniel Schwieder · Chief Financial Officer · Apr 1, 2016 to Mar 31, 2022 Inference
Investments on record
0 edges, 0 companies, 0 partner-attributed
No investment on record yet. Edges arrive from the firm’s portfolio page, financing announcements, and Form D board seats.
Co-investors
0 relationships from shared deals, counted for the whole firm
No co-investor relationship yet: these are derived only from rounds and portfolio listings the graph has seen both investors on.
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
8 dated events
- Mar 31, 2022HCG Flex Coinvest C LLC first reported on Form ADV by HCG Fund Management LP (Venture Capital Fund), GAV $1,500,000Fund first reported on Form ADVFundsFactHCG Flex Coinvest C LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2022Gregory Daniel Schwieder (Chief Financial Officer) no longer on Schedule A of HCG Fund Management LP
- Mar 31, 2022HCG Digital Ventures II, LP first reported on Form ADV by HCG Fund Management LP (Venture Capital Fund), GAV $10,245,000Fund first reported on Form ADVFundsFactHCG Digital Ventures II, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2021HCG Point Coinvest B LLC first reported on Form ADV by HCG Fund Management LP (Venture Capital Fund)Fund first reported on Form ADVFundsFactHCG Point Coinvest B LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 27, 2020HCG Digital Ventures, LP first reported on Form ADV by HCG Fund Management LP (Venture Capital Fund)Fund first reported on Form ADVFundsFactHCG Digital Ventures, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2019HCG Finance Dac first reported on Form ADV by HCG Fund Management LP (Other Private Fund), GAV $52,036,511Fund first reported on Form ADVFundsFactHCG Finance DacSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Apr 1, 2018Gretta Jane Heaney joined Schedule A of HCG Fund Management LP as Chief Compliance Officer
- Jul 15, 2016HCG Fund Management LP first filed Form ADV (IA)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 14, 2026Institutional venture firm (probable, 80%, cls-1)venture manager, reported GAV $108M across 5 vehicles
- Sep 12, 2026Institutional venture firm (probable, 80%, cls-1)venture manager, reported GAV $694M across 6 vehicles
Evidence
55 observations from 3 sources