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.
The names on this page are hidden. Create a free account and they fill in. No card, and every figure, date and source on this page is public either way.
Firms / H•••••• M••••••••• L••
H•••••• M••••••••• L••
venture manager, reported GAV $190M across 9 vehicles
Importance
31
moderate
Active deployment
33
moderate
Emerging
0
low
Completeness
69
high
Freshness
99
high
Research priority
13
low
Identity and regulatory footprint
- Headquarters
- Madison, WIadviserinfo.sec.gov
- Office address
- 551 W MAIN ST, Madison, WI, 53703adviserinfo.sec.gov
- Business phone
- 608-618-3863adviserinfo.sec.gov
- Website
- h•••••••••
- 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 30, 2026
- Private funds reported
- 9 (9 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $174Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- business email
- contact@healthxventures.comhealthxventures.compublished by the subject
- business phone
- 608-618-3863adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
2 observed deals
Stated (the firm’s website)
- Sectors
- healthcare
- Stages
- seed
- Geography
- not stated
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- venture capital
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors
unknown 100%
lead rate n/afollow-on rate n/anew logos, 12 months 2
Funds and vehicles
9 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| H•••••• V••••••• F••• I••• L••• | Fund | 2024 adv first reported | Early deployment | $23.1M Mar 25, 2024 | 43 | $0 of $100M | Oct 6, 2023 |
| H•••••• V••••••• F••• I••••• L••• | Feeder or parallel | 2024 adv first reported | Early deployment | $1.1M Mar 25, 2024 | 3 | unknown | unknown |
| H•••••• W•••••••• F•••• L••• | Fund | 2024 adv first reported | Early deployment | $0 Mar 25, 2024 | 1 | $0 of $30.0M | Mar 5, 2024 |
| H•••••• R•••• 2•••• L•• | SPV or co-invest vehicle · ADV: Other Private Fund | 2023 name year | Active deployment | $2.3M Mar 25, 2024 | 2 | unknown | unknown |
| H•••••• E•••••••• L•• | SPV or co-invest vehicle · ADV: Other Private Fund | 2023 adv first reported | Active deployment | $1.2M Mar 25, 2024 | 12 | unknown | unknown |
| H•••••• D••••• T•••••• 2•••• L•• | SPV or co-invest vehicle · ADV: Other Private Fund | 2023 name year | Active deployment | $895,569 Mar 25, 2024 | 6 | unknown | unknown |
| H•••••• D••••• T•••••• 2•••• L•• | SPV or co-invest vehicle · ADV: Other Private Fund | 2022 name year | Active deployment | $918,017 Mar 25, 2024 | 7 | unknown | unknown |
| H•••••• V••••••• F••• I•• L••• | Fund | unknown | Unknown | $110M Mar 25, 2024 | 99 | $0 of $75.0M | Apr 30, 2019 |
| H•••••• V••••••• F••• I• L••• | Fund | unknown | Unknown | $50.7M Mar 25, 2024 | 73 | $0 of $30.0M | Sep 30, 2015 |
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
10 current, 0 departed
E••• M••••••
AssociateAssociate
M••• B•••••
Managing partnerManaging Partner
A••••• J••••••
OtherChief of Staff
B•••• L••••••••
PartnerPartner
D••••• N•••
PartnerPartner
M••• B•••••
PartnerManaging Director · since Feb 1, 2015
K•••• L•••••••••
Platform and operationsFractional Head of M•••eting
S••••••• M•••••••
Platform and operationsChief Financial Officer
S•••••• F•••••••
Platform and operationsVP, Operations & Compliance
L•••• H••••
PrincipalPrincipal
Investments on record
2 edges, 2 companies, 0 partner-attributed
| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| E•••• · exited | portfolio listing | unknown | unknown | unknown | unknown | Sep 16, 2026 | Fact Venture organization websites (about, team, portfolio, thesis, news pages) |
| H••••••••• · exited | portfolio listing | unknown | unknown | unknown | unknown | Sep 16, 2026 | Fact Venture organization websites (about, team, portfolio, thesis, news pages) |
“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
2 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
10 dated events
- Mar 25, 2024H•••••• V••••••• F••• I••••• L••• first reported on Form ADV by H•••••• M••••••••• L•• (Venture Capital Fund), GAV $1,119,419Fund first reported on Form ADVFundsFactH•••••• V••••••• F••• I••••• L•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 25, 2024H•••••• V••••••• F••• I••• L••• first reported on Form ADV by H•••••• M••••••••• L•• (Venture Capital Fund), GAV $23,084,611Fund first reported on Form ADVFundsFactH•••••• V••••••• F••• I••• L•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 25, 2024H•••••• D••••• T•••••• 2•••• L•• first reported on Form ADV by H•••••• M••••••••• L•• (Other Private Fund), GAV $895,569Fund first reported on Form ADVFundsFactH•••••• D••••• T•••••• 2•••• L••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 25, 2024H•••••• W•••••••• F•••• L••• first reported on Form ADV by H•••••• M••••••••• L•• (Venture Capital Fund)Fund first reported on Form ADVFundsFactH•••••• W•••••••• F•••• L•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 25, 2024H•••••• R•••• 2•••• L•• first reported on Form ADV by H•••••• M••••••••• L•• (Other Private Fund), GAV $2,259,342Fund first reported on Form ADVFundsFactH•••••• R•••• 2•••• L••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2023H•••••• D••••• T•••••• 2•••• L•• first reported on Form ADV by H•••••• M••••••••• L•• (Other Private Fund), GAV $945,142Fund first reported on Form ADVFundsFactH•••••• D••••• T•••••• 2•••• L••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2023H•••••• E•••••••• L•• first reported on Form ADV by H•••••• M••••••••• L•• (Other Private Fund), GAV $1,255,805Fund first reported on Form ADVFundsFactH•••••• E•••••••• L••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Jun 27, 2019H•••••• M••••••••• L•• first filed Form ADV (ERA, venture capital fund adviser exemption)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Jun 27, 2019H•••••• V••••••• F••• I• L••• first reported on Form ADV by H•••••• M••••••••• L•• (Venture Capital Fund), GAV $21,858,656Fund first reported on Form ADVFundsFactH•••••• V••••••• F••• I• L•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Jun 27, 2019H•••••• V••••••• F••• I•• L••• first reported on Form ADV by H•••••• M••••••••• L•• (Venture Capital Fund), GAV $22,024,291Fund first reported on Form ADVFundsFactH•••••• V••••••• F••• I•• L•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 15, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $190M across 9 vehicles
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $167M across 8 vehicles
Evidence
45 observations from 3 sources