Vocation Capital

Investment decisions are made jointly by Ryan Himmel, founder and managing partner, and John B. Hess, founding partner. Neither has disclosed a formal investment committee. Himmel brings operational experience from BMPR Holding, while Hess contributes multi-generational wealth and direct investing experience tied to the Hess family.

Vocation Capital sources deals primarily through the personal networks of Himmel and Hess, including relationships built through BMPR Holding, Hess Corporation connections, and participation in family office networks such as Tiger 21 and YPO. The firm does not maintain a formal venture capital fund or employ a deal-sourcing team.

Vocation Capital is structured as a single-family office. It does not operate a closed-end fund or manage external capital. Each investment is made directly via the family's balance sheet, though co-investment opportunities are occasionally shared with other family offices.

The firm primarily makes direct investments in companies and real estate. There is no public record of it committing to external venture or private equity funds. Its model mirrors a direct investing family office rather than a fund-of-funds or a fund allocator.

Vocation Capital targets early-stage venture (Series A and B rounds) and growth equity. It also pursues direct real estate investments. Check sizes range from $1M to $5M per deal, though it will occasionally co-invest in larger rounds alongside other family offices.

Vocation Capital has not publicly disclosed any exclusion lists. Its known investments are concentrated in fintech, healthcare services, enterprise software, and real estate. It does not appear to invest in energy or extractive industries, which may reflect the Hess family legacy.

The firm co-invests alongside other family offices and occasionally with venture capital firms, but it does not serve as a lead investor in rounds. Co-investments are sourced through the principals' networks, not via a formal syndicate.