# HLM Venture Partners

HLM Venture Partners is a Venture Capital based in Waltham, United States.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Waltham, United States
- **Region:** North America
- **Address:** Waltham, MA, United States
- **Founded:** 1983
- **Assets under management:** Undisclosed
- **Website:** www.hlmvp.com
- **LinkedIn:** https://www.linkedin.com/company/hlm-investment-partners

## Regulatory record

- **Reports private funds:** No

## About

HLM Investment Partners only invests in healthcare. The firm partners with entrepreneurs to build enduring companies that improve healthcare quality and costs, while generating outstanding returns for its investors and executives. It seeks to be a first-call partner to founders and co-investors, and provides growth capital to breakout companies demonstrating traction and facing an inflection point in growth.

## Sectors

- Digital Health
- Healthcare Services
- InsurTech

## People

- Marty Felsenthal — Partner
- Peter Grua — Partner
- Edward L. Cahill — Partner

## Questions

### Who runs investment decisions at HLM Venture Partners?

The firm is led by a long-tenured partnership group that includes Marty Felsenthal, Peter Grua, and Edward Cahill. They have managed the firm together since the 1990s, making investment decisions collectively. Each partner brings specific domain expertise across healthcare services, digital health, and medical technology.

### How does HLM Venture Partners source proprietary deal flow?

HLM sources deals through a network built over four decades of healthcare-only investing. The firm's partners have deep relationships with health system executives, payor leaders, and repeat healthcare founders. HLM also receives referrals through its portfolio company CEOs and the broader Boston-area healthcare innovation ecosystem.

## Related profiles

- [HLL Partners](https://altss.com/profile/hll-partners)
- [HLV Ventures](https://altss.com/profile/hlv-ventures)

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Last updated: 2026-08-11T15:06:57.816Z

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