Fundraising Fox
Mutual Capital Partners
Venture capitalCleveland · Seed–Late Stage · 4 people tracked
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Investment thesis
Mutual Capital Partners is a venture capital fund focused on healthcare IT and medical device companies, primarily located outside major tech centers throughout Ohio and the greater Midwest. The firm works alongside angel funds, economic development entities, and entrepreneurs to help companies move through the capital continuum. It seeks companies with a strong management team, at least five reference customers that are renewing or expanding, more than $1,000,000 in run-rate revenue, and the ability to reach gross margins of 50% or higher. Beyond capital, MCP offers hands-on partnership, personal guidance, and access to its resources and expert network.
Source: firm website, verified Aug 3, 2026.
Team · 4 people
from the firm's websiteWhat they invest in
from 22 of 34 portfolio companiesHealthtech ×16Medical Devices ×11Digital Health ×6Enterprise Software ×5SaaS ×5AI & Machine Learning ×4Biotech ×4Cloud Computing ×2
HQs:United States×20
Who they back
founder profiles across 11 portfolio companiesFounding team size:solo founder×82 founders×24+ founders×1
Investments · 34 tracked
founders shown can be your intro pathBy year:2026 · 22025 · 12024 · 32022 · 22021 · 12016 · 12014 · 313 dated
NCR Voyix develops cloud-based software and point-of-sale systems for retail and restaurant customers, combining e-commerce, payments, and operational management tools on a unified platform.
Atlanta, US
John Henry PattersonDon Layden(Executive Vice President, Payments & Network)Owen J Sullivan(President and Chief Operating Officer)inPatrice Graves(Executive Vice President, Chief Human Resources Officer)James M Bedore(Executive Vice President, General Counsel and Secretary)Frank Martire(Executive Chairman and Director)
Quest Diagnostics is the world's leading provider of diagnostic information services, serving one in three adult Americans and half of US physicians and hospitals.
Digital HealthHealthtechMedical DevicesSecaucus, US
Paul A. BrownJim Davis(Chairman, Chief Executive Officer and President)in
Co-investorsAlteria Capital
Upwork operates two interconnected digital platforms that match businesses with independent contractors and agency workers: the Upwork Marketplace, a freelance work platform where clients post projects and pay service fees on transactions, and Lifted, an enterprise-focused platform for managing contingent labor across multiple engagement models including contractors, staff augmentation, and outsourcing.
Hayden Brown(Chief Executive Officer)inGiulietta Pezzaniti(Chief People Officer)
Co-investors3Spoke Capital408 VenturesDag VenturesFirstMark CapitalGarage CapitalGlobespan Capital Partners+9 more
7SIGNAL provides a cloud-based AI platform for monitoring and optimizing digital experiences across wired and wireless networks, endpoints, and applications.
AI & Machine LearningCloud ComputingEnterprise SoftwareIndependence, US
Ted Schneider(Chief Executive Officer)inKristen Nieberding(Chief Financial Officer)inArt Faccone(Senior Vice President, Services and Support)inShannon Courtney Boulanger(Vice President, Sales)inVeli-Pekka Ketonen(Executive Officer)Russell Wangler(Executive Officer)
Board seatBill Trainor· per SEC Form D
Co-investorsAllos VenturesInnovestor VenturesJobsOhio VenturesJumpstart VenturesTechnology Venture Partners
Cooler Heads develops scalp cooling technology to prevent hair loss in cancer patients undergoing chemotherapy.
HealthtechMedical DevicesSan Diego, US
Kate Dilligan(Founder & CEO)in
BoardMaria Gonzalez-Blanch(Director)inMICHAEL SCHOTZINGER(Director)inLIZ TODIA(Director)LIZ ZAMBORY(Director)inJASON PESTERFIELD(Director)in
Board seatLiz Todia Zambory· per SEC Form D
Co-investorsAd Astra VenturesAloft VCAstiaBacchus Venture CapitalCALIFORNIA INNOVATIONGolden Seeds+3 more
Tybrhealth develops the B3 GEL™ System, a protective gel applied during tendon and ligament repair surgery to reduce post-operative scar formation and preserve tissue mobility.
BiotechHealthtechMedical DevicesHouston, US
Tim Keane(Founder)inAlex Smith(Founder)inJeffrey Tyber(Director)Stephen Ramon(Executive Officer)inTimothy J. Keane, Jr.(Executive Officer, Director)
BoardToby Hamilton(Director)
Board seatLiz Todia Zambory· per SEC Form D
Co-investorsArieal Southeast Angel PartnersAsymmetry VenturesVentureSouqY CombinatorEight CapitalMEDA Angels+1 more
Authenticx is a conversation intelligence platform that uses AI trained on healthcare data to uncover system-critical insights from customer interactions, helping healthcare organizations identify barriers to better outcomes and improve operational efficiency.
AI & Machine LearningEnterprise SoftwareHealthtechCarmel, US
Amy Brown(Founder & CEO)inMcKay Dunn(Director)inMelanie Bella(Director)
BoardVictor Gutwein(Director)in
Co-investorsAllos VenturesBeringeaElevate VenturesHigh AlphaM25Blue Heron Capital+2 more
Cardinal Commerce (now presented under Visa Protect) offers AI-powered fraud prevention and risk management tools that provide real-time decisioning for authentication, authorization, and real-time payments.
AI & Machine LearningCybersecurityFintech
Catalyst OrthoScience develops medical devices and surgical techniques for shoulder replacement procedures, including total shoulder replacements and reverse shoulder arthroplasty.
BiotechHealthtechMedical DevicesNaples, US
Steven Goldberg(Founder & MD)inCarl O'Connell(Chief Executive Officer)inAmy Ables(Vice President of Customer Engagement and Sales Excellence)inEphraim(Chief Technology Officer)Robert Richter(Chief Financial Officer)inDebbie Totah(Vice President of Human Resources)
Co-investorsTamiami AngelIrishAngels
Checkpoint Surgical develops intraoperative nerve stimulation devices, biomaterial implants, and surgical instruments for peripheral nerve and tendon surgery.
BiotechHealthtechMedical DevicesCleveland, US
Marilyn A. Eisele(Executive Officer)Kevin M. Scanlan(Executive Officer)Donald Hubbard(Executive Officer)inMark Stultz(Executive Officer)
BoardTracy Marshbanks(Director)inGeoffrey B. Thrope(Executive Officer, Director)in
Co-investorsFirst AnalysisJumpstart VenturesNDIRC CapitalRiver Cities Capital
Cleveland HeartLab provides diagnostic blood tests that use a multimarker approach, including inflammatory biomarkers such as hsCRP and MPO, to assess and stratify an individual's cardiovascular disease risk.
BiotechDigital HealthHealthtechCleveland, US
Rebecca Holland(Executive Officer)Pamela Gornall(Executive Officer)Jacob Orville(Executive Officer, Director)
BoardSteve Gullans(Director)William Cadogan(Director)Gus Lawlor(Director)
Co-investorsExcel Venture ManagementAdvantage Capital PartnersHealthCare Ventures, LLC
CareTria Provider Connect is a platform for healthcare practices that handles benefit investigations, electronic prior authorization, and manufacturer copay/savings program enrollment for both medical and pharmacy benefits.
Digital HealthHealthtechSaaSLouisville, US
Robert Saunders(Executive Officer, Director)Mark Murphy(Executive Officer, Director)
BoardThomas Hearn(Executive Officer, Director)inWilliam Trainor(Executive Officer, Director)Roger Kobel(Director)
Co-investorsFCA Venture PartnersOCA Ventures
Elevation Spine develops the Saber spinal implant technology, including Saber-C, a zero-profile cervical fusion system combining an anterior cervical plate, interbody, and fixation for less invasive spinal fusion.
HardwareHealthtechMedical DevicesMonterey, US
Co-investorsTechnology Venture Partners
enosix provides real-time SAP integration solutions that unify complex enterprise systems for manufacturers, consumer products companies, and other large organizations.
Data & InfrastructureEnterprise SoftwareSaaSCincinnati, US
Gerald Schlechter(Founder and Chief Strategy Officer)inGerald Schlecter(Executive Officer, Director)Philippe Jardin(Executive Officer, Director)in
BoardWilliam Trainor(Director)Dov Rosenberg(Director)
Co-investorsAllos VenturesCapital Midwest FundJobsOhio VenturesJumpstart VenturesMK CapitalSaaS Capital
HeRO Graft is a fully subcutaneous arteriovenous access device for hemodialysis patients with central venous stenosis, designed to reduce infection rates and improve long-term vascular access reliability.
Medical Devices
Co-investorsEmergent Medical Partners, LLPAscension VenturesKaiser Permanente Ventures
iotaMotion develops robotic systems for cochlear implant surgery, assisting otolaryngologists in achieving precision beyond human capability.
HealthtechMedical DevicesRoboticsSt. Paul, US
Marlan Hansen, MD(Executive Officer, Director)Marlan Hansen(Executive Officer, Director)Christopher Kaufmann(Executive Officer, Director)Marlan Hansen, MD, FACS(Co-founder & Chief Medical Officer)Michael Lobinsky(Executive Officer, Director)
BoardWayne Wallace(Director)
Co-investorsISA VenturesNext Level Ventures
Merit Medical Systems designs, develops, manufactures and markets medical devices for interventional and diagnostic procedures.
HealthtechMedical Devices
Co-investorsAscension VenturesPeterson Ventures
NetKey Inc. was a Connecticut-based software company that developed kiosk and digital signage platforms for self-service applications like gift registries, guided selling, and HR terminals.
Co-investorsConnecticut Innovations
Nuance creates software products, including healthcare solutions for clinical documentation, speech recognition, and virtual assistants.
AI & Machine LearningHealthtechSaaS
Co-investorsAsset Management CompanyRembrandt Venture PartnersUS Venture PartnersAccelGoldman SachsLightspeed Venture Partners+1 more
Olio provides care coordination technology for post-acute and behavioral health organizations, automatically connecting care teams across SNFs, behavioral health providers, payers, health systems, home health, and hospice to improve outcomes and reduce costs.
Digital HealthEnterprise SoftwareHealthtechIndianapolis, US
Ben Forrest(CEO)inSean Mullins(Chief Operating Officer)
BoardJill Sharp(Director)Eric Huebner(Director)Thomas Greer(Director)Philip Lewis(Director)
Co-investorsFulcrum Equity PartnersAccelOctopus VenturesQuadia
OrthAlign develops medical device technology for precise alignment during hip and knee replacement surgery, serving orthopedic surgeons in the surgical technology space.
HealthtechMedical DevicesAliso Viejo, US
Jamy Gannoe(Co-founder)inEric Timko(President and CEO)inDavid S. Smith(Executive Officer)William E. Maya(Executive Officer, Director)Christopher Martin(Director)D. Ronald Yagoda(Director)
Co-investorsCalifornia Technology VenturesRC CapitalAphelion Capital
Redi Health builds patient access and affordability programs that connect pharmaceutical manufacturers to patients through targeted approaches designed to increase medication adoption and sustained use.
Digital HealthHealthtechSaaS
Luke Buchanan(Founder)inJaimin Gandhi(Founder)in
Co-investorsBlue Heron CapitalM25Refinery VentureRev1 Ventures
Granville, US
KEVIN LOWRY(Executive Officer)AARON M. BOGGS(Executive Officer)MICHAEL J. HAWK(Executive Officer, Director)MARC C. HAWK(Executive Officer, Director)
BoardWILLIAM S. TRAINOR(Director)RAPHAEL NICOLOSI(Director)
SPR develops the SPRINT PNS System, a peripheral nerve stimulation device for pain relief.
Digital HealthHardwareHealthtechMedical DevicesCleveland, US
Maria Bennett(President, CEO, and Founder)inJosh Boggs(Executive Officer)inMark Stulz(Executive Officer)Marilyn A. Eisele(Executive Officer)Ben Austin(Chief Financial Officer)inDavid Youngberg(Chief Commercial Officer)
Co-investorsAF WPartnersJumpstart VenturesNDIRC CapitalRevelation PartnersRiver Cities Capital
Synchronoss provides white label cloud software and digital experience platforms that help telecommunications and media companies connect subscribers with services, content, and each other.
Cloud ComputingEnterprise SoftwareSaaS
Co-investorsAscent Venture PartnersBalderton CapitalSaints CapitalSeyen Capital
Visa operates a global payments network enabling digital and card-based transactions for consumers and businesses across multiple sectors and geographies.
Fintech
Co-investorsCommerzVenturesRed Bear VenturesSPRINGROCK VENTURESAlteria CapitalSlow Ventures
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
BeVocalIntellidenOrthoHelix Surgical DesignsOrthoScienceRedi.HealthTGX Medical SystemsTgxmedicalWright
Exits · 9
3 IPOs · 6 acquisitions · showing 8NCRNYSE: VYXQuest DiagnosticsNYSE: DGXUpworkNASDAQ: UPWKBeVocalacq. by Nuance CommunicationsCardinal Commerceacq. by VisaIntellidenacq. by IBMNetkey, Inc.acq. by NCRTGX Medical Systemsacq. by Integra LifeSciences Holding
Portfolio news
latest coverage across their companiesOlio · finsmes.com · May 13, 2025
Frequently asked questions
- How many investments has Mutual Capital Partners made?
- Mutual Capital Partners has 34 tracked investments, 9 of which have exited, including 3 dated in the last 24 months.
- What stage does Mutual Capital Partners invest at?
- Mutual Capital Partners invests at the Seed, Series A, Series B, Series C, Late Stage stages.
- What is Mutual Capital Partners's typical check size?
- Mutual Capital Partners typically writes checks of $1M.
- What sectors does Mutual Capital Partners focus on?
- Mutual Capital Partners focuses on Digital Health, Healthtech, Medical Devices.
- Where is Mutual Capital Partners located?
- Mutual Capital Partners is headquartered in Cleveland, US.
- Who does Mutual Capital Partners co-invest with?
- Mutual Capital Partners most often shares deals with Jumpstart Ventures, RC Capital, Allos Ventures, among 58 tracked co-investors.
From the blog
visit blog ↗Mutual Capital Partners has recently invested in and tracked growth at healthcare technology companies, including leading a $11M Series A for scalp cooling innovation and following robotic-assisted cochlear implant technology advancement milestones. AI summary
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