The Corner Series Episode 122: When the First Fundraise Is in the Bank, With Henry Yan
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Jan 21, 2026 
Henry Yan, principal at Whistler Capital Partners and healthcare-focused lower middle-market investor. He recalls the grit behind a first fundraise. He discusses sector specialization, using placement agents, and why co-investment matters. He highlights Nashville’s talent, tech-enabled healthcare plays, and which subsectors and investor types are most active.
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First Fund Close After Tough Raise
- Whistler Capital closed its first healthcare lower-middle-market fund after a challenging raise.
- Henry Yan credits momentum, team buy-in, and supportive institutional and family office partners for the close.
Specialist Status Cuts Both Ways
- Sector focus both opens doors and triggers concern from LPs who've been burned.
- Being a healthcare specialist matters because the market's depth makes it hard to be a casual participant.
Investing In Medical Appropriateness
- Whistler emphasizes 'medical appropriateness' focusing on front-end care and healthcare business services.
- The team prefers investments that improve patient navigation, diagnostics, and primary care rather than downstream specialties.