Hlm Management Co., LLC

HLM Management Co., LLC is a registered investment adviser specializing in venture capital and growth equity investments in healthcare information technology, healthcare services, and medical device sectors. Founded in 1983, the firm is owned by Peter J. Grua and Edward L. Cahill. HLM manages assets of approximately $455 million on a discretionary basis as of December 31, 2024. The firm primarily invests in innovative, venture, and expansion-stage companies within the healthcare industry, aiming for long-term capital appreciation. Clients are five venture capital and growth equity partnerships, each with specific minimum subscription requirements disclosed in the partnership agreements. Regarding fees, HLM charges management fees and performance-based fees for its services, with management fees payable quarterly in advance. The firm may reduce or adjust fees at its discretion. Investment strategies focus on U.S.-based companies offering tangible ROI, accelerating revenue growth, and addressing large market opportunities. Risks include operational, investment, and market risks, with investments subject to intense competition and potential economic impacts. HLM has a Code of Ethics ensuring employees prioritize client interests, with restrictions on personal trading and pre-approval requirements for certain transactions. The firm does not participate in soft dollar arrangements and reviews portfolio companies regularly. Client referrals are not compensated, and custody of assets is held by qualified custodians. Investment discretion is outlined in each partnership agreement, and the firm has a stable financial standing without any bankruptcy history.