Heritas Capital Management

Woon Choon Foo leads the firm as Chief Executive Officer, overseeing both direct investment activities and fund-of-funds allocations. The investment team operates from Singapore and draws on a network of venture partners and operating advisors with domain expertise in healthcare and technology. Investment committee composition and final decision-making authorities are not publicly detailed.

Heritas uses a hybrid model that combines direct growth-equity investments with fund commitments to external venture and growth managers. On the direct side, the firm has backed companies like ConnectedHealth and Celligenics. On the fund side, it has committed capital to managers including Wavemaker Partners and Jungle Ventures, often co-investing alongside the GPs it backs.

Heritas does not publish an explicit exclusion list, but its mandate centers on healthcare, enterprise technology, fintech, and sustainability-adjacent themes. The firm is not known to invest in heavy industry, extractive sectors, real estate development, or consumer discretionary outside of health-and-wellness adjacencies.

The firm targets expansion and growth-stage companies, typically post-revenue and in some cases near profitability or already cash-flow positive. Heritas also participates in later-stage venture rounds and has a PIPE capability for listed healthcare and technology companies in Asia, though the bulk of its direct activity sits at the Series B to pre-IPO inflection point.

Heritas is headquartered in Singapore and deploys capital across Southeast Asia, India, and China. The firm's healthcare focus aligns with demographic shifts and regulatory reforms in these markets, and its limited-partner relationships include Singapore-based institutional capital alongside regional family offices.

Heritas has anchored funds seeded by entities with Temasek links, but the firm operates independently as a private-sector fund manager. The relationship provides institutional credibility and alignment with Singapore's national healthcare innovation priorities, but Heritas is not a subsidiary or portfolio company of Temasek.

Heritas is not a single-family office or captive vehicle — it raises capital from external institutional limited partners and family offices. The firm's fund-of-funds activity also channels third-party capital into selected Asia-focused venture and growth managers, making it an access point for investors seeking curated regional exposure.