Heritage Healthcare Innovation Fund II, LP
Heritage Group · adviser of record: HG Capital Management, LLC · 2014 vintage
Heritage Healthcare Innovation Fund II, LP is a 2014 venture fund managed by Heritage Group, with $100mm raised (Form D, amount sold). It reported $288mm in gross assets at year-end 2025, 2.88x its size, against a peak of $334mm in 2023.
- Latest value held
- $288mm year-end 2025
- Peak
- $334mm year-end 2023
- Fund size
- $100mm Form D, amount sold
- Held vs. size
- 2.88x peak 3.34x
Value held by year-end
Gross asset value reported on Form ADV at each year-end. Dashed line: fund size. Open in the Fund Tracker
| Year-end | Gross assets | ÷ size | Change |
|---|---|---|---|
| 2025 | $288mm | 2.88x | -14% over 2 yrs |
| 2023 | $334mm | 3.34x | +15% |
| 2022 | $290mm | 2.90x | +7% |
| 2021 | $272mm | 2.72x | +32% |
| 2020 | $205mm | 2.05x | -15% |
| 2019 | $241mm | 2.41x | +23% |
| 2018 | $196mm | 1.97x | -3% |
| 2017 | $202mm | 2.02x | -7% |
| 2016 | $217mm | 2.17x | +7% |
| 2015 | $202mm | 2.02x | +102% |
| 2014 | $100mm | 1.00x | – |
What registered funds report
| Holder | As of | Value of stake | Value ÷ cost |
|---|---|---|---|
| StepStone Private Markets | 2026-06-30 | $13.6mm | 1.07x |
From SEC Form N-PORT, filed by mutual funds and other registered funds that hold an interest in this fund.
Other funds from Heritage Group
- Heritage Group Monogram Holdings, LP 2022
- Heritage Healthcare Innovation Fund III, LP 2019
- Heritage Healthcare Innovation Fund, LP 2011
About these numbers
Gross asset value is what the manager reports holding in the fund at each fiscal year-end, on SEC Form ADV, Schedule D. It includes the GP’s own commitment and is before carried interest, so it is not the LPs’ net return, and it does not show cash already distributed. A fall in value can mean distributions, markdowns or both. Fund size is the amount sold reported on Form D, which for some funds reflects only a first close. Private fund ID 805-5657560316. Data updated October 13, 2026.
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