# cultivate(MD)

cultivate(MD) is a Private Equity based in Grand Rapids, US.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Grand Rapids, US
- **Region:** North America
- **Address:** Grand Rapids, MI, United States
- **Assets under management:** Undisclosed
- **Website:** www.cultivate-md.com
- **LinkedIn:** https://www.linkedin.com/company/cultivate-md

## Regulatory record

- **Reports private funds:** No

## About

cultivate(MD) is a leader in providing venture capital to medical device companies. Our funds have invested in some of the most innovative healthcare technology with multiple successful exits.

## Sectors

- Healthcare Services
- MedTech

## Offices

- Ann Arbor, MI, United States

## People

- R. Sean Churchill — Managing Director
- Matt Ahearn — Director
- Dave Blue — Director
- Rob Ball — Director

## Questions

### Who makes investment decisions at cultivate(MD)?

R. Sean Churchill, MD, MBA, serves as Managing Director and leads investment decisions. He is supported by directors Matt Ahearn, Dave Blue, and Rob Ball. Churchill also sits on the boards of Genesis Innovation Group and Capitan Orthopedics.

### Does cultivate(MD) invest only in medical devices, or does it also back healthcare services or digital health?

The firm invests exclusively in medical device companies. Its website lists orthopedics, surgical tools, and regenerative medicine as core areas. It does not mention digital health, pharma, or services as target verticals.

### What investment stages does cultivate(MD) target?

cultivate(MD) focuses on early-stage and seed-stage companies. Its fifth vehicle, the cultivate(MD) Focus Fund, is structured with a 2031 horizon to support startups from early development through commercial exit (per the firm, 2026).

### How does cultivate(MD) differ from a generalist venture firm?

The firm is sector-constrained to medical devices, with a managing director who is a practicing surgeon and engineer. That clinical background informs deal sourcing, due diligence, and portfolio support — particularly around regulatory approvals and surgeon adoption.

### Which portfolio companies has cultivate(MD) backed, and have any exited?

Named portfolio companies include Shoulder Innovations (NYSE: SI, IPO July 2025), Embody, Imascap, and SPDx. Shoulder Innovations is the firm's public-market exit.

### Who are the Capital Fund Advisors, and what role do they play?

The Capital Fund Advisors are retired senior executives from Procter & Gamble Health (Steve Bishop), Livanova (Paul Buckman), KPS Global (Nathan Estruth), Sanford Health (Dan Blue), and Weill Cornell (Michael Alexiades). They provide strategic counsel but do not make day-to-day investment decisions.

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/cultivatemd

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology