Founded by a team with a proven track record in healthcare, medical device, investment and start-up operations, the firm’s innovative investment approach leverages access to the industry and provides a flexible and investor-friendly structure.
MINNEAPOLIS, MN / ACCESS CABLE / July 14, 2022 / Engage venture partners, a new venture capital (VC) firm focused on medical technology companies, announces its launch and inaugural investment in the company. Backed by deep technical expertise, extensive due diligence capabilities, and specialized industry knowledge, Engage was established to address the need for a more accessible, lower-friction financing community for early-stage and emerging medical technology companies. initial growth and its investors.
Engage also announced its first investment with Minnesota-based medical device manufacturer Melodi Health. Melodi offers surgical solutions to women undergoing breast surgery by developing a novel absorbable scaffold intended to support soft tissue and improve patient outcomes.
“The Engage team assembled a group of mature angel investors who aligned with our investment timeline and stage and who were uniquely qualified to invest in our platform, including surgeons and experienced medical technology investors,” says Sarah Worrell, CEO of Melodi Health.
engage organizes special purpose vehicles (SPVs), each of which is a legal entity created for the specific purpose of investing in a single startup. This next-generation investment model offers investors lower management fees, individual flexibility and control, and lower investment minimums that allow for broader participation and access.
“Engage SPV was an efficient and well-organized way for Melodi to raise a significant amount of capital that significantly funds our pre-commercial development activities aimed at impacting outcomes for women with breast cancer undergoing screening. mail-mastectomy reconstruction on your journey to recovery,” says Worrell.
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Located in Minnesota medical alleyOne of the world’s leading health technology clusters with more than 1,000 health technology companies, Engage offers investors access to widely vetted medical technology startups and an advisory network with deep expertise in selected subsectors, including medical devices, biotech, pharmacy, and digital. Health.
“Minnesota is a global hub for medical technology innovation,” says Steve Sigmond, founder and CEO of Engage. “Our team’s deal pipeline, combined with our proprietary due diligence and investigation capabilities, allows us to deliver value to investors from day one.”
The Engage Venture Partners team consists of four founders, two of whom serve as CEOs. With more than 25 years of experience in investing, advising and managing early-stage companies, Sigmond was most recently the founder, CFO and VP of Marketing at Carrot Health, a Minneapolis-based healthcare analytics SaaS company that was acquired by 2021. Kelly Prchal, Founder and Managing Director, is an active angel investor with nearly 20 years of experience in the healthcare continuum and co-founder of AlliedVirtualCare, a health and wellness technology company focused on age-related hearing loss and related conditions.
Joining Sigmond and Prchal as founders of Engage are Morgan Evans and Ryan Spanheimer. Evans is a medical technology founder and executive who is also the co-founder and CEO of Agitated Solutions, Inc., a medical device company; co-founder of Moonshot Medical, a medical device incubator; and founder and CEO of Highland Circle Innovations, a medical technology services company.
Evans notes, “We have institutional-quality deal flow and the highest rigor in due diligence, but at the end of the day what we are most passionate about is directing resources to the people who are doing amazing work.”
As a practicing patent attorney specializing in medical technology, Spanheimer has worked extensively with medical device companies in a variety of fields. He offers a detailed understanding of technology development and market commercialization and regularly works with both early and mature medical technology companies to identify technical disruptions and growth opportunities in relevant target markets.
For more information on Engage and investment opportunities, please email [email protected].
About Engage Venture Partners
Minneapolis-based, woman-owned Engage Venture Partners is a research-driven venture capital firm focused on early-stage medical technology investments. With extensive knowledge of the healthcare and medical device industry, and decades of experience in investment and start-up operations, Engage offers a flexible, investor-friendly structure utilizing special purpose vehicles (SPVs). Accredited investors are invited to join the Engage Investor Network, which requires no fee to join and no minimum commitment. Email [email protected] Learn more.
THE ENGAGE SERVICES, ENGAGE MANAGED INVESTMENT OPPORTUNITIES AND ENGAGE MATERIALS ARE PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DO NOT CONSTITUTE INVESTMENT, LEGAL OR TAX ADVICE. NOTHING PROVIDED BY ENGAGE CONSTITUTES A SOLICITATION, RECOMMENDATION, ENDORSEMENT OR OFFER BY ANY PARTY OF ENGAGE, TARGET OR ANY THIRD PARTY SERVICE PROVIDER FOR TO BUY OR SELL SECURITIES OR OTHER FINANCIAL INSTRUMENTS IN MINNESOTA OR ANY OTHER JURISDICTION WHERE SUCH SOLICITATION OR OFFER WOULD BE ILLEGAL UNDER THE SECURITIES LAWS OF SUCH JURISDICTION. THERE ARE RISKS ASSOCIATED WITH INVESTING IN SECURITIES, INCLUDING, WITHOUT LIMITATION, THE RISK OF COMPLETELY LOSING ANY AND ALL AMOUNT INVESTED.
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