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SPRIG Equity is a growth equity and late-stage venture capital firm founded in 2023, headquartered in Wilmette, Illinois, and Orange County, California. The firm was established to address critical challenges in the healthcare system by investing in transformative medical technologies. SPRIG Equity closed its inaugural fund, SPRIG Equity Fund I, at $50 million in April 2025, positioning itself as a key player in the medtech investment landscape.
The firm leverages a unique relationship with SPRIG Consulting, a leading medtech strategy and commercialization consultancy, to access exclusive off-market deal flow. This partnership enhances SPRIG Equity's ability to identify and support innovative medical technology teams that are focused on improving patient outcomes. The firm currently manages a portfolio of four companies, all of which are in clinical or commercial stages, aligning with its growth equity investment strategy.
SPRIG Equity primarily invests in the sectors of medical devices, diagnostics, and tech-enabled healthcare services. The firm targets growth equity and late-stage venture capital opportunities, specifically focusing on Series C and Series D investments. By utilizing insights and expertise from its consulting arm, SPRIG Consulting, SPRIG Equity identifies breakthrough innovations that can significantly enhance patient care.
The firm seeks to partner with best-in-class teams and technologies in the medtech space, emphasizing the importance of addressing significant challenges within the healthcare system. SPRIG Equity's investment strategy is centered around improving patient outcomes through strategic partnerships, making it a compelling choice for startups in the medical technology sector.
SPRIG Equity's portfolio includes notable companies that are making strides in the medical technology field:
In addition to these current investments, SPRIG Equity has a history of notable exits, including:
Evan Norton — Co-Founder & Managing Partner; previously led Abbott's corporate venture group for nearly a decade, bringing extensive experience in medtech investing.
Rebecca Raabe — Co-Founder & Partner; an experienced medtech investor and operator with a strong track record in the industry.
Katie Arnold — Co-Founder & Operating Partner; also serves as CEO and founder of SPRIG Consulting, specializing in medtech strategy and commercialization.
Olivier Delporte — Venture Partner; brings a wealth of experience in venture capital and medical technology.
Alexei Mlodinow, MD, MBA — Venture Partner; combines medical expertise with business acumen to evaluate investment opportunities.
To pitch SPRIG Equity, founders should send an email to info@sprigequity.com. It is essential to include a well-structured pitch deck that outlines the business model, market opportunity, and the technology's potential to improve patient outcomes. Founders should expect a response within a few weeks, and while warm introductions are preferred, they are not mandatory.
In April 2025, SPRIG Equity announced the successful closing of its inaugural fund, SPRIG Equity Fund I, at $50 million AUM. This milestone positions the firm to actively deploy capital into promising medical technology ventures.
SPRIG Equity has been engaging with the healthcare innovation space, evidenced by its notable portfolio companies, including SetPoint Medical, Conformal Medical, and Cytovale. The firm emphasizes its commitment to addressing significant challenges within the healthcare system through strategic investments.
What are SPRIG Equity's investment criteria?
SPRIG Equity focuses on growth equity and late-stage venture capital investments in the medical technology sector, specifically targeting companies in medical devices, diagnostics, and tech-enabled healthcare services. The firm looks for innovative teams that can significantly improve patient outcomes.
How can I pitch to SPRIG Equity?
Founders can reach out to SPRIG Equity via email at info@sprigequity.com. It is advisable to include a detailed pitch deck that outlines the business model, market opportunity, and how the technology addresses specific healthcare challenges.
What makes SPRIG Equity different from other investors?
SPRIG Equity differentiates itself through its exclusive relationship with SPRIG Consulting, which provides access to off-market deal flow and strategic insights that enhance investment decisions. This unique advantage allows the firm to identify and support breakthrough innovations in the medtech space.
What is the geographic focus of SPRIG Equity?
The firm primarily invests in the United States, concentrating on companies that are positioned to make a significant impact in the healthcare sector.
What is the typical check size for investments?
While specific check sizes are not disclosed, SPRIG Equity targets growth equity and late-stage investments, which typically involve larger capital commitments aligned with the needs of scaling medical technology companies.
What kind of support do portfolio companies receive?
SPRIG Equity adds value to its portfolio companies through strategic guidance and access to a vast network of industry experts, facilitated by its consulting arm, SPRIG Consulting. This support helps companies navigate the complexities of the medtech landscape and enhances their commercialization potential.
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