Overview
HLM Management Co., LLC (“we,” “us,” “our,” or the “Firm”) is a Waltham based venture capital
firm focused on investing in privately-held companies operating in the healthcare information
technology, healthcare services, and medical device sectors.
HLM was founded in 1983 and is now owned by Peter J. Grua and Edward L. Cahill.
HLM’s primary business is to invest in innovative, venture, and expansion‐stage emerging growth
companies that address the needs of all healthcare industry participants
including consumers, providers, payers, and organizations serving their needs.
HLM serves as an investment manager to related investment partnerships that make venture capital
investments in the securities of established businesses (each partnership, “Fund(s)” or
“Partnership(s)”). HLM attempts to make investments of approximately $5 million to $25 million in
size, in companies with stable revenue and cash flow businesses with high margin structure, and
will
attempt to capitalize on flexible investment structures.
In providing services to the Partnerships, HLM formulates the investment objective, directs and
manages the investment and reinvestment of the Partnership’s assets, and provides periodic reports
to the Partnership’s investors. Investment advice is provided directly to the Partnership and not
individually to the limited partners of the Partnership. HLM manages the assets of the Partnership in
accordance with the terms of the Partnership’s applicable governing documents.
The Firm has entered into and may enter into “side letters” or similar agreements with certain investors
that may waive or modify the application of, or grant special or more favorable rights with respect to
the Offering Documents to the extent permitted by applicable law.
As of December 31, 2023, HLM managed Regulatory Assets under Management of approximately
US $436,734,194 on a discretionary basis.