Blue Heron Capital Management, LLC
SEC exempt reporting adviser (venture capital exemption).
- Website
- HTTP://WWW.BLUEHERONCAP.COM
- HQ
- VA
Blue Heron Capital Management is an early-stage growth equity firm that partners with early-stage growth companies in healthcare and B2B technology. Its team includes co-founders and managing partners Tom Benedetti and Andrew Tichenor. Portfolio companies named in the facts include Tava Health, Redi Health, and STARC Systems, which the firm has exited.
New fund likely raising soon
The firm's newest fund is 4 to 7 years past its first sale and no newer Form D has been filed.
01 · Says / Does
| Tag | Says | Does | Historically (to 2020) |
|---|---|---|---|
| Stages | Growth | Not enough dated deals | Series B, Growth, Series A |
| Sectors | Enterprise SaaS, Healthtech | Not enough dated deals | Healthtech, Biotech, Digital health, Medical devices, Cybersecurity, Enterprise SaaS |
| Regions | Not stated | Not enough dated deals | VA |
Says: what the firm's funds state. Does: from 0 dated deals in the last 24 months.
Historical focus (through 2020), derived from historical deal data.
| Year | Deals | Top sectors |
|---|---|---|
| 2011 | 2 | Biotech, Cybersecurity, Healthtech |
| 2012 | 1 | Enterprise SaaS |
| 2013 | 3 | Biotech, Healthtech, Edtech |
| 2014 | 2 | Consumer, Cybersecurity, Digital health |
| 2015 | 3 | Biotech, Healthtech, Cybersecurity |
| 2016 | 1 | Digital health, Healthtech, Medical devices |
| 2017 | 1 | Construction and proptech, Hardware, Manufacturing |
| 2018 | 1 | Healthtech |
| 2019 | 5 | Healthtech, Data analytics, Digital health |
| 2020 | 1 | Biotech, Healthtech, Medical devices |
Stage mix over time
- Pre-seed
- Seed
- Series A
- Series B
- Growth
| Year | Pre-seed | Seed | Series A | Series B | Growth |
|---|---|---|---|---|---|
| 2011 | 0 | 0 | 0 | 1 | 0 |
| 2012 | 0 | 0 | 0 | 1 | 0 |
| 2013 | 0 | 0 | 0 | 2 | 1 |
| 2014 | 0 | 0 | 0 | 1 | 0 |
| 2015 | 0 | 0 | 0 | 0 | 1 |
| 2016 | 0 | 0 | 1 | 0 | 0 |
| 2017 | 0 | 0 | 0 | 0 | 0 |
| 2018 | 0 | 0 | 0 | 0 | 0 |
| 2019 | 0 | 0 | 2 | 0 | 1 |
| 2020 | 0 | 0 | 0 | 0 | 1 |
| 2021 | 0 | 0 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | 0 | 0 |
| 2023 | 0 | 0 | 0 | 0 | 0 |
| 2024 | 0 | 0 | 0 | 0 | 0 |
| 2025 | 0 | 0 | 0 | 0 | 0 |
| 2026 | 0 | 0 | 0 | 0 | 0 |
02 · Fund history
| Fund | Year | Size | Status |
|---|---|---|---|
| Blue Heron Capital Fund III, LP | 2022 | $81.13M to $100M (Form D) | Late investment period |
03 · People across funds
- Andrew Tichenor, Managing Partner of the General Partner
Blue Heron Capital Fund III, LP (Named on Form D)
- Thomas Benedetti, Managing Partner of the General Partner
Blue Heron Capital Fund III, LP (Named on Form D)
- Christine Lane, Controller
- Jim Riley, Operating Partner
- Kevin Musco, Vice President
- Laura Tizard, Accounting Manager
- Matt Jacobson, Director of Investor Relations
- Nick Graziano, Principal
- Tom Benedetti, Co-Founder & Managing Partner
04 · Recent deals
No dated deals found yet.
05 · Latest from the firm
No news from the firm's website yet.
06 · Sources
- HTTP://WWW.BLUEHERONCAP.COM
- https://www.blueheroncap.com/our-team/
- https://www.blueheroncap.com/partnership/
- https://www.blueheroncap.com/news/
- https://www.blueheroncap.com/
Fund dates and sizes are from SEC Form D filings.
Last verified: Oct 25, 2026