M3A HealthTech Venture Fund | Seed-Stage Healthcare AI & MedTech Investors

Investment Thesis

We invest where adoption actually happens.

Healthcare innovation fails not from lack of technology — but from misaligned incentives, broken workflows, and commercial strategies built by people who've never sold to a surgeon or negotiated an ASC contract.

We have. That's our edge.

Workflow adoption

We back products that fit inside the existing clinical or administrative workflow. If adoption requires behavior change, the product must remove friction — not add it.

Incentive alignment

Reimbursement, ROI, and clinician economics must be obvious on day one. We pass on solutions that ask payers, providers, or patients to absorb new cost without a clear win.

Commercial buyer clarity

We invest where the buyer, the budget, and the sales motion are already understood — and where our LP and operator network can shorten the sales cycle.

Regulatory credibility

FDA, CMS, and state pathways are mapped before we wire funds. Founders work alongside operators who've cleared 510(k)s, navigated coverage decisions, and stood up reimbursement.

Strategic exit relevance

We back companies that map to a real strategic acquirer or category leader — not features in search of a buyer. Exit logic is part of diligence, not an afterthought.

Why M3A Wins

Five advantages founders can't replicate elsewhere.

Healthcare AI and MedTech don't get scaled by capital alone. They get scaled by surgeons who use them, operators who've sold them, and partners who know which buyer to call first.

Clinical Network

A 70+ physician LP base across orthopedics, cardiology, foot & ankle, women's health, and hospital leadership — turning every portfolio company into one that surgeons can pilot, validate, and reference from week one.

Commercialization Expertise

Decades of enterprise commercial leadership across Stryker, J&J, Wright Medical, and Enovis. We help founders build the right sales motion, hire the right reps, and price for the buyer who actually controls the budget.

ASC & Surgeon Access

Direct relationships with ambulatory surgery centers, hospital service-line leaders, and the surgical channels that determine whether a new device or AI workflow gets adopted — or shelved.

AI + MedTech Pattern Recognition

We've watched this category since AirStrip's first FDA-cleared mobile app. We know which AI claims hold up, which clinical signals matter, and which MedTech archetypes return capital — and which never do.

Early-Stage Operating Support

We show up as operators, not just check-writers. Founders get hands-on help on regulatory strategy, KOL recruiting, payer pathways, GTM hires, and the introductions that compress 12-month sales cycles into 3.

Leadership

Operators who've done it.
Investors who know why it works.

Trey Moore

Managing Partner

Serial entrepreneur and technologist with ~30 years building at the intersection of software and healthcare. Co-founded AirStrip — the first FDA-approved mobile app in the App Store, backed by Sequoia Capital, HCA, and Qualcomm Ventures. Co-founded Splice, which became the world's top mobile video app before its $60M acquisition by GoPro. Founded Mission 3A studio in 2018. B.S. Computer Science, University of Mary Hardin-Baylor.

AirStrip — SequoiaSplice → GoPro $60M

Kevin Cordell

Managing Partner

33 years of healthcare executive leadership across multi-billion dollar orthopedic and cardiovascular businesses. Senior roles at J&J, Enovis, and Wright Medical — including the commercial strategy behind Wright Medical's $5.4B acquisition by Stryker. Deep pattern recognition in identifying who buys, why, and when. Board: University of Oklahoma Healthcare Advisory Board; ThermoTek, Inc.

Wright Medical → Stryker $5.4BJ&J · Enovis

Andy Reid

Managing Partner & COO

20+ years of commercial leadership across MedTech, pharma, and surgical innovation. Senior roles at Stryker ($500M+ orthopedics division), National Sales Director at Wright Medical through its $5.4B acquisition, and VP Sales & Marketing at Enovis. Deep expertise in orthopedics, biologics, ASC networks, and ACFAS surgical channels. BA, Lehigh University; MBA, Saint Joseph's University.

StrykerWright MedicalEnovis

Portfolio

Companies redefining what's possible in healthcare.

Selected investments across surgical AI, medical devices, drug discovery, and digital health — each backed for a clear clinical need, defensible distribution strategy, and credible regulatory pathway.

Surgical AI

VisionOR

Apple-native surgical OS using real-time AI to capture OR data, automate post-op documentation, and streamline billing.

Why M3A invested: deep ASC and surgeon access fits a workflow product where adoption depends on the OR — exactly where our LPs and operators help most.

AI-enhanced near-infrared imaging providing non-invasive, real-time insight into tumor response during chemotherapy — without radiation or contrast agents.

Why M3A invested: a regulatory-credible imaging platform with a clear oncology buyer and reimbursement pathway.

CategoryMedical Imaging

AI-driven prosthetic hand with active revenue and international distribution, expanding into humanoid robotics across leading global platforms.

Why M3A invested: FDA-cleared device with real revenue and a defensible roadmap that crosses MedTech into broader robotics.

CategoryRobotics · MedTech

StatusFDA Cleared · Revenue

altbionics.com →

Biotech

Altus-X (Arditus)

AI-enhanced hemophilia drug development co-led by Bob Langer (Moderna, MIT) — novel molecule with IND filed and Phase 2 enrollment ready.

Why M3A invested: world-class scientific leadership applied to a rare disease with proven payer economics and strategic exit relevance.

CategoryBiotech · Rare Disease

StatusIND Filed

altusformulation.com →

Deep Tech

Lyten

3D graphene platform spanning energy storage, composites, and AI infrastructure with significant revenue traction.

Why M3A invested: a platform technology with cross-sector pull, including healthcare-relevant materials and AI infrastructure leverage.

CategoryDeep Tech · Materials

StatusRevenue

lyten.com →

Pediatric AI

Harbor

AI-enabled remote monitoring for disabled children with active payer conversations and a large eligible population.

Why M3A invested: a Medicaid-approved foothold inside a fragmented but high-need payer channel where operator support compresses sales cycles.

CategoryPediatric · RPM

StatusMedicaid Approved (TN)

Website coming soon

Maternal Health

Good OB

AI-powered wearable fetal monitoring for at-home and clinical settings, addressing a critical gap in maternal care.

Why M3A invested: a clear FDA predicate pathway and an obvious commercial buyer in OB practices and women's health systems.

CategoryMaternal Health

StatusStudio-Born · Pre-Clearance

Website coming soon

Behavioral Health

Cope

AI-native mental health platform with therapy matching, an always-on companion layer, and a retention-first model targeting employer and payer channels.

Why M3A invested: incentive-aligned with self-funded employers and payers, where engagement and retention map directly to reimbursement.

CategoryBehavioral Health

StatusEarly Commercial

Website coming soon

Health Systems

Delta Health

AI software platform designed to reduce administrative burden and improve operational performance across clinical workflows for hospital systems.

Why M3A invested: a clear enterprise buyer with measurable ROI and a path through service-line leadership relationships our LPs already hold.

CategoryEnterprise Health AI

StatusPilots

Website coming soon

Selected investments. Company descriptions are for informational purposes only and may reflect current company-reported information.

Advisory Board

Clinical authority.
Commercial credibility.

Our advisors bring direct access to physician networks, institutional relationships, and the strategic channels that drive adoption in healthcare.

Patrick Fisher

President, Global Orthopedics — Orthofix

Formerly VP & GM of Stryker's Foot & Ankle division and President of Lower Extremity & Biologics at Wright Medical through its $5.4B Stryker acquisition. Deep expertise in driving revenue growth, commercial innovation, and surgical network adoption across global orthopedics.

Gregory Berlet, M.D.

FRCS(C) · FAOA · FAAOS — Co-Founder, OFAC

Retired orthopedic surgeon and co-founder of the nationally recognized Orthopedic Foot & Ankle Center. Former Chief of Foot & Ankle at The Ohio State University; leadership roles at AAOS and AOFAS. Author of 100+ scientific publications and contributor to multiple total ankle replacement systems.

Where clinical
reality meets
AI innovation.

We invest where adoption actually happens.

Five advantages founders can't replicate elsewhere.

Operators who've done it.
Investors who know why it works.

Companies redefining what's possible in healthcare.

Clinical authority.
Commercial credibility.

Strategic capital for the next wave of healthcare AI.

Interested in learning more?

Pitch Your Company

Get in touch.

Where clinicalreality meetsAI innovation.

We invest where adoption actually happens.

Five advantages founders can't replicate elsewhere.

Operators who've done it.Investors who know why it works.

Companies redefining what's possible in healthcare.

Clinical authority.Commercial credibility.

Strategic capital for the next wave of healthcare AI.

Interested in learning more?

Pitch Your Company

Get in touch.

Where clinical
reality meets
AI innovation.

Operators who've done it.
Investors who know why it works.

Clinical authority.
Commercial credibility.