Mutual Capital Partners

Mutual Capital Partners is a venture fund established in 2004, based in Ohio, that focuses on investing in rapidly growing technology and healthcare businesses primarily located in the Midwest. The firm was created in response to the limited availability of venture capital in the region, with the goal of leading or co-leading investments in promising companies. It is backed by over 100 successful executives from across the United States who contribute to due diligence efforts, provide customer introductions, and offer ongoing guidance to portfolio executives. Mutual Capital Partners emphasizes a commitment to entrepreneurialism, collaborating with angel funds, economic development entities, and entrepreneurs to navigate the capital continuum. The firm is responsive to potential investment inquiries, aiming to provide feedback or introductions within five business days.

Rick Sapio

Co-Founder

Elizabeth Grace Todia

Senior Associate

Liz Todia

Principal

Bill Trainor

Managing Director

Wayne Wallace

Managing Director

38 past transactions

OrthoHelix Surgical Designs

Venture Round in 2009
OrthoHelix Surgical Designs is a medical device company developing a comprehensive line of implants and instruments for use in small bone reconstructive surgery. OrthoHelix is dedicated to being the most responsive device maker in the orthopedic industry. We provide state of the art extremity fixation products that are reliable and easy to use. We enhance surgical outcomes of patients. Our vision is to be an orthopedic company that succeeds by listening to surgeons, giving them what they want and need for safer, faster, easier surgical procedures and improved patient outcomes. We take pride in upholding values of Integrity, Compliance, Dedication, Focus and Speed. Surgeons Speak.

7SIGNAL

Series D in 2021
7SIGNAL® is a leader in enterprise wireless experience monitoring. 7SIGNAL provides a cloud-based platform that continuously monitors wireless networks and identifies elusive performance issues impacting application performance. By taking the “outside-in” approach to monitoring 7SIGNAL has visibility into the edge of any enterprise or home Wi-Fi network where complex device interaction exists, and user experience matters most. The platform maximizes employee productivity, operational efficiency and network ROI. Designed for the world’s most innovative organizations, educational institutions, healthcare systems and government agencies, the platform is currently deployed at Fortune 500 companies, hospitals and large venues globally. Learn more at www.7signal.com.

Cleveland HeartLab

Series B in 2012
Cleveland HeartLab, Inc. is a specialty clinical laboratory and disease management company focused on novel biomarker technologies and the creation of proprietary diagnostic tests.

Vox Mobile

Series C in 2015
Vox Mobile, Inc. provides managed mobility services for enterprises. It offers strategic consulting, technical professional, and advisory services to build and execute mobility blueprints; and Vox Choice, a mobility management software solution to automate BYOD and corporate liable programs for compliance, request management, and financial reconciliation. The company also offers support services for managed scalable logistics, device imaging, and end user activation; on demand user support services for mobile workforce; mobile security, MDM server setup, support, and monitoring services; and audit and optimization services for visibility and expense management. It serves clients in banking, healthcare, oil and gas, financial services, insurance, utilities, multi-national, and manufacturing industries in the United States and internationally. The company was founded in 2004 and is based in Independence, Ohio. It has support centers, and sales and consulting offices in North America.
OrthoHelix Surgical Designs is a medical device company developing a comprehensive line of implants and instruments for use in small bone reconstructive surgery. OrthoHelix is dedicated to being the most responsive device maker in the orthopedic industry. We provide state of the art extremity fixation products that are reliable and easy to use. We enhance surgical outcomes of patients. Our vision is to be an orthopedic company that succeeds by listening to surgeons, giving them what they want and need for safer, faster, easier surgical procedures and improved patient outcomes. We take pride in upholding values of Integrity, Compliance, Dedication, Focus and Speed. Surgeons Speak.

RevLocal

Venture Round in 2016
By connecting businesses with a dedicated digital strategist and a powerful platform, RevLocal delivers seamless local search marketing for businesses that want to be validated by existing customers and discovered by new ones. RevLocal optimizes its approach for the ever-changing digital landscape to ensure local businesses are visible and relevant online. With the client relationship as the foundation, RevLocal makes digital marketing efficient, effective and affordable for all. RevLocal has Digital Marketing Consultants in over 40 US Cities.

Catalyst OrthoScience

Series D in 2021
Catalyst OrthoScience is an early stage medical device company that is bringing the Catalyst CSR total shoulder to market. The CSR total shoulder is an innovative, streamlined solution that is associated with less stretching of the muscles and ligaments in order to place the implants. It is designed to be a more natural solution with a focus on rapid recovery for the patient.

Olio

Series A in 2022
Olio is an information technology company that offers a mobile-based software application platform that transforms post-acute engagement during this crisis and beyond. Olio gives health systems real-time visibility into patient location and status. The company was founded in 2017 by Ben Forrest and headquartered in Carmel, Indiana.

EBlu Solutions

Series A in 2021
eBlu was created to help specialty medical practices manage the complex workflow around high cost infusion and injection treatments. A single denied claim can be costly, which is why practices are willing to put up with long hold times to talk to provider services lines and having to use multiple portals, a separate one for each medication. eBlu believes there’s a better way: a single portal for all your in-office infusion and injection therapies. We help you mitigate risk, improve staff efficiency, and reduce your training and onboarding burden for new staff members.

Cleveland HeartLab

Venture Round in 2016
Cleveland HeartLab, Inc. is a specialty clinical laboratory and disease management company focused on novel biomarker technologies and the creation of proprietary diagnostic tests.

7SIGNAL

Series A in 2015
7SIGNAL® is a leader in enterprise wireless experience monitoring. 7SIGNAL provides a cloud-based platform that continuously monitors wireless networks and identifies elusive performance issues impacting application performance. By taking the “outside-in” approach to monitoring 7SIGNAL has visibility into the edge of any enterprise or home Wi-Fi network where complex device interaction exists, and user experience matters most. The platform maximizes employee productivity, operational efficiency and network ROI. Designed for the world’s most innovative organizations, educational institutions, healthcare systems and government agencies, the platform is currently deployed at Fortune 500 companies, hospitals and large venues globally. Learn more at www.7signal.com.

enosiX

Series A in 2014
Enosix, Inc. designs and develops integration solutions between front end platforms and systems applications and products (SAP) system to unlock data and surface business process. The company offers solutions, such as Enosix Connect, integrate SAP/ERP system with cloud based application; Enosix Engage; Enosix Surface, provides real time access to SAP ERP data in sales force without middleware; Enosix Sales, read, create, and modify SAP data from sales cloud; Enosix Sales CPQ, leverage SAP data for pricing and quotes in Salesforce CPQ; and Enosix Sales VC, integrate SAP variant configuration with Salesforce in real time. Enosix, Inc. was incorporated in 2014 and is based in Cincinnati, Ohio.

enosiX

Private Placement in 2018
Enosix, Inc. designs and develops integration solutions between front end platforms and systems applications and products (SAP) system to unlock data and surface business process. The company offers solutions, such as Enosix Connect, integrate SAP/ERP system with cloud based application; Enosix Engage; Enosix Surface, provides real time access to SAP ERP data in sales force without middleware; Enosix Sales, read, create, and modify SAP data from sales cloud; Enosix Sales CPQ, leverage SAP data for pricing and quotes in Salesforce CPQ; and Enosix Sales VC, integrate SAP variant configuration with Salesforce in real time. Enosix, Inc. was incorporated in 2014 and is based in Cincinnati, Ohio.

7SIGNAL

Series B in 2017
7SIGNAL® is a leader in enterprise wireless experience monitoring. 7SIGNAL provides a cloud-based platform that continuously monitors wireless networks and identifies elusive performance issues impacting application performance. By taking the “outside-in” approach to monitoring 7SIGNAL has visibility into the edge of any enterprise or home Wi-Fi network where complex device interaction exists, and user experience matters most. The platform maximizes employee productivity, operational efficiency and network ROI. Designed for the world’s most innovative organizations, educational institutions, healthcare systems and government agencies, the platform is currently deployed at Fortune 500 companies, hospitals and large venues globally. Learn more at www.7signal.com.

CardinalCommerce

Series A in 2004
CardinalCommerce is the pioneer and global leader in authenticating consumer payments online. They operate the largest interoperable authentication network in the world which spans across various card network protocols, merchants, and Financial Institutions.

TGX Medical Systems

Series A in 2005
TGX Medical Systems designs, develops and markets software solutions for medical asset management and tracking. These web-based systems work with specialized hardware supplied by major integrators. They are sold to small, medium and large-sized hospitals and medical facilities. TGX Medical Systems' systems are distinguished from competition by their sophisticated interfaces, scalability and ease of modification and are extensively patented.

7SIGNAL

Series A in 2013
7SIGNAL® is a leader in enterprise wireless experience monitoring. 7SIGNAL provides a cloud-based platform that continuously monitors wireless networks and identifies elusive performance issues impacting application performance. By taking the “outside-in” approach to monitoring 7SIGNAL has visibility into the edge of any enterprise or home Wi-Fi network where complex device interaction exists, and user experience matters most. The platform maximizes employee productivity, operational efficiency and network ROI. Designed for the world’s most innovative organizations, educational institutions, healthcare systems and government agencies, the platform is currently deployed at Fortune 500 companies, hospitals and large venues globally. Learn more at www.7signal.com.

OrthAlign

Series D in 2017
OrthAlign is a privately-held medical device company providing healthier and more pain-free lifestyles to joint replacement patients. The company is developing a line of computer-assisted surgical devices that distill the critical features and benefits of large surgical navigation systems. Its goal is to create a new standard of care in total joint replacement, making consistent, and measurable results accessible to surgeons and patients. The company was founded in 2009 and based in Aliso Viejo, California.
OrthoHelix Surgical Designs is a medical device company developing a comprehensive line of implants and instruments for use in small bone reconstructive surgery. OrthoHelix is dedicated to being the most responsive device maker in the orthopedic industry. We provide state of the art extremity fixation products that are reliable and easy to use. We enhance surgical outcomes of patients. Our vision is to be an orthopedic company that succeeds by listening to surgeons, giving them what they want and need for safer, faster, easier surgical procedures and improved patient outcomes. We take pride in upholding values of Integrity, Compliance, Dedication, Focus and Speed. Surgeons Speak.

SPR Therapeutics

Series D in 2024
SPRA Therapeutics is a medical device company that is commercializing pain treatments utilizing its proprietary peripheral nerve stimulation (PNS) products. They are developing a pipeline of neurostimulation pain therapies that will exploit the same physiologic mechanism of action, proprietary technology, and clinical approach. The first product to be commercialized is the SMARTPATCHâ„¢ PNS System, which is a short-term, minimally invasive system that is simple to deliver and can be used for up to 30 days to stimulate electrically a peripheral nerve to relieve pain.

Authenticx

Series B in 2023
AuthentiCx, Inc. designs and develops software solutions to analyze and activate customer interaction data at scale for the healthcare industry. It offers Authenticx to combine existing customer interactions across call center data, texts, chats, emails, and more into a single source of truth. The company’s Authenticx aggregates customer voices; organizes and structures conversational data; and provides insights to make decisions. AuthentiCx, Inc. was founded in 2018 and is based in Carmel, Indiana.

iotaMotion

Series A in 2023
At the center of the efforts in their industry is the electrode; a magnificent device that continues to evolve and bring hearing to their patient population where hearing did not exist. To innovate, they need to care. Care about the creativity, the passion and the dedication of their healthcare customers, and their patients. They are pioneering by collaborating with the thought-leaders and practitioners of this science.

Catalyst OrthoScience

Series C in 2019
Catalyst OrthoScience is an early stage medical device company that is bringing the Catalyst CSR total shoulder to market. The CSR total shoulder is an innovative, streamlined solution that is associated with less stretching of the muscles and ligaments in order to place the implants. It is designed to be a more natural solution with a focus on rapid recovery for the patient.

Hemosphere

Series A in 2010
Hemosphere developed and markets the HeRO (Hemodialysis Reliable Outflow) Graft, a proprietary graft-based solution for end-stage renal disease (ESRD) hemodialysis patients with limited access options and central venous obstruction.

SPR Therapeutics

Series D in 2021
SPRA Therapeutics is a medical device company that is commercializing pain treatments utilizing its proprietary peripheral nerve stimulation (PNS) products. They are developing a pipeline of neurostimulation pain therapies that will exploit the same physiologic mechanism of action, proprietary technology, and clinical approach. The first product to be commercialized is the SMARTPATCHâ„¢ PNS System, which is a short-term, minimally invasive system that is simple to deliver and can be used for up to 30 days to stimulate electrically a peripheral nerve to relieve pain.

Mork Process

Series A in 2008
Mork Process innovative & highly specialized supplier of customized process cleaning and sterilization solutions.

enosiX

Series B in 2018
Enosix, Inc. designs and develops integration solutions between front end platforms and systems applications and products (SAP) system to unlock data and surface business process. The company offers solutions, such as Enosix Connect, integrate SAP/ERP system with cloud based application; Enosix Engage; Enosix Surface, provides real time access to SAP ERP data in sales force without middleware; Enosix Sales, read, create, and modify SAP data from sales cloud; Enosix Sales CPQ, leverage SAP data for pricing and quotes in Salesforce CPQ; and Enosix Sales VC, integrate SAP variant configuration with Salesforce in real time. Enosix, Inc. was incorporated in 2014 and is based in Cincinnati, Ohio.
OrthoHelix Surgical Designs is a medical device company developing a comprehensive line of implants and instruments for use in small bone reconstructive surgery. OrthoHelix is dedicated to being the most responsive device maker in the orthopedic industry. We provide state of the art extremity fixation products that are reliable and easy to use. We enhance surgical outcomes of patients. Our vision is to be an orthopedic company that succeeds by listening to surgeons, giving them what they want and need for safer, faster, easier surgical procedures and improved patient outcomes. We take pride in upholding values of Integrity, Compliance, Dedication, Focus and Speed. Surgeons Speak.

Checkpoint Surgical

Private Placement in 2016
Checkpoint Surgical provides physicians with medical devices to locate, evaluate, and protect nerves and muscles in surgical procedures. The company's flagship product, the Checkpoint Stimulator/Locator is a single-use, hand-held stimulator with a broad range of stimulation parameters that are fully controllable by the surgeon with one hand and capable of eliciting a muscle contraction from stimulating the nerve directly or the tissue surrounding the nerve. The Checkpoint Surgical team continues to develop new and innovative first in class devices to help surgeons achieve better patient outcomes.
OrthoHelix Surgical Designs is a medical device company developing a comprehensive line of implants and instruments for use in small bone reconstructive surgery. OrthoHelix is dedicated to being the most responsive device maker in the orthopedic industry. We provide state of the art extremity fixation products that are reliable and easy to use. We enhance surgical outcomes of patients. Our vision is to be an orthopedic company that succeeds by listening to surgeons, giving them what they want and need for safer, faster, easier surgical procedures and improved patient outcomes. We take pride in upholding values of Integrity, Compliance, Dedication, Focus and Speed. Surgeons Speak.

OrthAlign

Series C in 2014
OrthAlign is a privately-held medical device company providing healthier and more pain-free lifestyles to joint replacement patients. The company is developing a line of computer-assisted surgical devices that distill the critical features and benefits of large surgical navigation systems. Its goal is to create a new standard of care in total joint replacement, making consistent, and measurable results accessible to surgeons and patients. The company was founded in 2009 and based in Aliso Viejo, California.

7SIGNAL

Series C in 2018
7SIGNAL® is a leader in enterprise wireless experience monitoring. 7SIGNAL provides a cloud-based platform that continuously monitors wireless networks and identifies elusive performance issues impacting application performance. By taking the “outside-in” approach to monitoring 7SIGNAL has visibility into the edge of any enterprise or home Wi-Fi network where complex device interaction exists, and user experience matters most. The platform maximizes employee productivity, operational efficiency and network ROI. Designed for the world’s most innovative organizations, educational institutions, healthcare systems and government agencies, the platform is currently deployed at Fortune 500 companies, hospitals and large venues globally. Learn more at www.7signal.com.

Checkpoint Surgical

Series D in 2018
Checkpoint Surgical provides physicians with medical devices to locate, evaluate, and protect nerves and muscles in surgical procedures. The company's flagship product, the Checkpoint Stimulator/Locator is a single-use, hand-held stimulator with a broad range of stimulation parameters that are fully controllable by the surgeon with one hand and capable of eliciting a muscle contraction from stimulating the nerve directly or the tissue surrounding the nerve. The Checkpoint Surgical team continues to develop new and innovative first in class devices to help surgeons achieve better patient outcomes.

Redi.Health

Series B in 2024
Redi.Health is a healthcare technology company that develops health management platforms for patients. The company aims to connect patients with chronic diseases to patient support programs. These programs are created in partnership with pharmaceutical manufacturers and are always free to the patient.

Elevation Spine

Series B in 2022
Elevation Spine is a medical device company headquartered in Monterey, CA. They are focused on innovating spinal implants with proven technology and materials using proprietary product designs.

Redi.Health

Venture Round in 2022
Redi.Health is a healthcare technology company that develops health management platforms for patients. The company aims to connect patients with chronic diseases to patient support programs. These programs are created in partnership with pharmaceutical manufacturers and are always free to the patient.

enosiX

Series A in 2019
Enosix, Inc. designs and develops integration solutions between front end platforms and systems applications and products (SAP) system to unlock data and surface business process. The company offers solutions, such as Enosix Connect, integrate SAP/ERP system with cloud based application; Enosix Engage; Enosix Surface, provides real time access to SAP ERP data in sales force without middleware; Enosix Sales, read, create, and modify SAP data from sales cloud; Enosix Sales CPQ, leverage SAP data for pricing and quotes in Salesforce CPQ; and Enosix Sales VC, integrate SAP variant configuration with Salesforce in real time. Enosix, Inc. was incorporated in 2014 and is based in Cincinnati, Ohio.