VC firm
Transformation Capital
- Investor type
- VC
- Investing status
- Activeas of 2026-09-17Source (opens in a new tab)
- Headquarters
- Boston, MA, United States
- Assets under management
- $3.1BForm ADV private fund GAV, as of 2026-03-20Source (opens in a new tab)
- Latest fund size
- $500MSEC amount sold, as of 2019-12-30Source (opens in a new tab)
- Funds
- 17
- Legal name
- TRANSFORMATION CAPITAL PARTNERS, L.P.
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Record updated 29 September 2026
About
Healthcare isn't just some of what we do — it’s our sole purpose.
Investment approach
- Thesis
- We are helping entrepreneurs build a new digital healthcare age…one with simpler, more affordable care that’s easier for caregivers and consumers alike. Our strategy is to find founders and management teams who understand the current system and see a better way, giving them not just the capital they need, but proven experience they can benefit from, AND a network of healthcare leaders who can use their innovations to help transform the industry and provide feedback for continuous improvement. Our founders help healthcare entities do more with increasingly less – through new business models, enabling technology and more efficient services. We can’t fix all the problems today, but we can, over time, make a constructive dent…for all of us.Source (opens in a new tab)
- Eligibility
- No. We’re dedicated to healthcare — and we believe that to do our best work in that space, we must be solely focused on it. That means limiting our investments to partners that are working within healthcare, whether it’s by serving those receiving care, care providers, or the systems that support care providers.
- Investing status notes
- Transformation Capital has closed Fund IV at $850M, exceeding it's target.
Funds
- TRANSFORMATION CAPITAL CO-INVESTMENT FUND III, L.P.
- $15.7MVintage 2023, SPV, SEC amount sold
- Transformation Capital Partners I-A, L.P.
- $19.2MVintage 2022, Closed, SEC amount sold
- TRANSFORMATION VENTURES, LLC
- $2.3MVintage 2020, Open-ended, SEC amount sold
- Transformation Capital Fund II, L.P.
- $500MVintage 2019, Main fund, Closed, SEC amount sold
- Fund IV
- $850MMain fund, Announced close
- TRANSFORMATION CAPITAL FUND IV-A, L.P.
- Main fund
- Transformation Capital Fund IV, L.P.
- Main fund
- Transformation Capital Executive Fund III, L.P.
- Main fund
- TRANSFORMATION FUND I L.P.
- Main fund
- Transformation Capital Fund III-A, L.P.
- Main fund
- Transformation Capital Partners III-CPRX, L.P.
- Recorded
- TRANSFORMATION CAPITAL FUND IV, L.P.
- Main fund
- More funds
- 5 more recorded
SEC registration
- Registered adviser
- TRANSFORMATION CAPITAL PARTNERS, L.P.
- CRD number
- 307367 (opens in a new tab)
- SEC file number
- 802-118284
- Registration
- Exempt reporting adviser
- Regulatory AUM
- $3.1Bas of 2026-03-20
- Private funds reported
- 10
- Principal office
- BOSTON, MA, United States
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