SPRIG EQUITY CLOSES INAUGURAL FUND WITH $50 MILLION ASSETS UNDER MANAGEMENT

Growth Equity and Late-stage Venture Capital Firm is Dedicated to Improving Patient Outcomes Through Partnerships with Best-in-Class Teams and Medical Technologies

CHICAGO, April 15, 2025 /PRNewswire/ -- SPRIG Equity, a growth equity and late-stage venture capital firm focused on advancing patient care through investment in transformative medical technologies, today announced the final close of its inaugural fund, SPRIG Equity Fund I, with $50M in assets under management (AUM). With offices in the Chicago area and Orange County, CA, SPRIG Equity invests in breakthrough innovations across the medical technology sector, including medical devices, diagnostics, and tech-enabled services.

"We are incredibly proud to have successfully closed our inaugural fund, especially in a year when first-time funds accounted for just 6% of total fund closures," said Evan Norton, Managing Partner and Co-Founder. "This achievement reflects the strength of our investment strategy, proprietary deal sourcing, and our team's expertise in identifying and building great companies that can transform patient care while delivering exceptional returns."

SPRIG Equity is led by Managing Partner Evan Norton, whose proven investing track record includes leading Abbott's corporate venture group for almost a decade. He co-founded the fund alongside Rebecca Raabe, an experienced MedTech investor and operator, and Katie Arnold, the CEO and founder of SPRIG Consulting, a leading medical technology strategy and commercialization consulting firm. The team is further supported by an accomplished advisory board of industry entrepreneurs, senior executives, and thought leaders. A key differentiator for SPRIG Equity is its off-market deal flow from its exclusive relationship with SPRIG Consulting.

SPRIG Equity has already demonstrated strong momentum with four portfolio investments to date:

• SetPoint Medical: medical device company with a first-of-its-kind neuromodulation therapy for patients living with chronic autoimmune conditions
• Conformal Medical: clinical-stage company developing next-generation left atrial appendage occlusion technology for stroke prevention
• Pi-Cardia: commercial-stage company focused on leaflet modification technologies in the structural heart market
• Cytovale: commercial-stage company offering rapid sepsis diagnostic technology for hospital emergency departments

About SPRIG Equity
SPRIG Equity is a growth equity and late-stage venture capital firm dedicated to improving patient outcomes by partnering with best-in-class teams and medical technologies. Launched in 2023, SPRIG Equity actively invests in late-stage opportunities across the medical technology sector. The team has a history of successfully backing market-shaping companies, including Affera, NeuroPace, Vertos, Endosense, Tendyne, and more. For more information, visit https://sprigequity.com.

SOURCE SPRIG Equity