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RC Capital

North America, Ohio, United States, Cincinnati

Description

RC Capital, also known as River Cities Capital Funds, is a distinguished growth equity firm based in Cincinnati, United States, with a dedicated focus on the healthcare sector. The firm targets the lower end of the middle market, seeking to invest in innovative companies across healthcare services, healthcare IT, and medical devices/diagnostics. Their investment philosophy centers on providing growth capital to businesses that have demonstrated strong market traction and are poised for significant expansion, often partnering closely with management teams to accelerate their strategic objectives and operational excellence.

RC Capital's investment strategy is highly selective, targeting companies that typically generate between $10 million and $100 million in revenue and $2 million to $20 million in EBITDA. The firm is known for its substantial first checks, with a typical investment range from $10 million to $40 million per company. This significant capital infusion is designed to support various growth initiatives, including market expansion, product development, and strategic acquisitions, enabling portfolio companies to scale rapidly and capture larger market shares.

The firm has a long-standing history of successful fundraises, demonstrating consistent investor confidence. Their most recent fund, River Cities Capital Fund VII, closed in 2021 with $250 million in commitments, further solidifying their capacity to deploy substantial capital into promising healthcare ventures. This robust financial backing, combined with their deep industry expertise and extensive network, positions RC Capital as a key partner for growth-stage healthcare companies looking to navigate complex market dynamics and achieve long-term success.

Investor Profile

RC Capital has backed more than 102 startups, with 3 new investments in the last 12 months alone. The firm has led 47 rounds, about 46% of its total and boasts 49 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series Unknown, Series C, Series B rounds (top funding stages).
  • Majority of deals are located in United States, Japan.
  • Strong thematic focus on Health Care, Software, Medical.
  • Typical check size: $10M – $40M.

Stage Focus

  • Series Unknown (34%)
  • Series C (19%)
  • Series B (19%)
  • Series D (12%)
  • Series A (8%)
  • Private Equity (5%)
  • Series E (2%)
  • Series F (1%)
  • Series G (1%)

Country Focus

  • United States (98%)
  • Japan (1%)

Industry Focus

  • Health Care
  • Software
  • Medical
  • Medical Device
  • Biotechnology
  • Saas
  • Information Technology
  • Internet
  • Mobile
  • Manufacturing
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does RC Capital frequently co-invest with?

Blue Chip Venture Company
North America, Ohio, United States, Cincinnati
Co-Investments: 4
SV Health Investors
North America, Massachusetts, United States, Boston
Co-Investments: 4
Camber Creek
North America, Maryland, United States, Rockville
Co-Investments: 4
Chrysalis Ventures
North America, Kentucky, United States, Louisville
Co-Investments: 3
Aphelion Capital
North America, Colorado, United States, Littleton
Co-Investments: 4
Adams Street Partners
North America, Illinois, United States, Chicago
Co-Investments: 3
Mutual Capital Partners
North America, Ohio, United States, Westlake
Co-Investments: 10
CID Equity Partners
North America, Indiana, United States, Indianapolis
Co-Investments: 6
Piper Jaffray
North America, Minnesota, United States, Minneapolis
Co-Investments: 4
California Technology Ventures
North America, California, United States, Pasadena
Co-Investments: 4

Which angels does RC Capital often collaborate with?

CF
North America, Illinois, United States, Chicago
Shared Deals: 1
Shared Deals: 1
TJ
North America, New York, United States, New York
Shared Deals: 1

What are some of recent deals done by RC Capital?

ModifyHealth

Alpharetta, Georgia, United States

ModifyHealth is a digital health platform that offers medically tailored meals and nutritional counseling.

FitnessFood and BeverageFood DeliveryHealth CareSustainability
Series CDec 4, 2024
Amount Raised: $13,500,000
Catalyst OrthoScience

Naples, Florida, United States

Catalyst OrthoScience is an early-stage medical device company.

Health CareMedicalMedical Device
Series UnknownSep 10, 2024
Amount Raised: $20,000,000
Spineology

Saint Paul Park, Minnesota, United States

Spineology provides anatomy-conserving spine surgery technology solutions.

BiotechnologyEmergency MedicineHealth CareMedicalMedical Device
Series AAug 6, 2024
Amount Raised: $25,000,000
Elucent Medical

Eden Prairie, Minnesota, United States

Elucent Medical is a new idea in breast cancer treatment that exists to bring better healthcare ideas.

Health CareMedicalOncology
Series CApr 10, 2024
Amount Raised: $42,500,000
Avive Solutions

Brisbane, California, United States

Avive Solutions develops an automated external defibrillator and software solutions.

Health CareMedical DeviceWellness
Series BFeb 14, 2024
Amount Raised: $56,500,000
SPR Therapeutics

Cleveland, Ohio, United States

SPR Therapeutics is a medical device company.

HardwareHealth CareMedicalTherapeutics
Series DFeb 1, 2024
Amount Raised: $25,000,000
James River Cardiology

Colonial Heights, Virginia, United States

James River Cardiology offers cardiac and vascular care services.

Health CareHealth DiagnosticsWellness
Private EquityJun 14, 2023
ModifyHealth

Alpharetta, Georgia, United States

ModifyHealth is a digital health platform that offers fresh, delicious, fully-prepared, low-FODMAP, and gluten-free meals.

FitnessFood and BeverageFood DeliveryHealth CareMedicalSustainability
Series BJan 10, 2023
Amount Raised: $10,000,000
NICO

Indianapolis, Indiana, United States

NICO develops medical devices for minimally invasive neurosurgery, as well as skull base and spinal surgical procedures.

BiotechnologyHealth CareMedical Device
Series UnknownOct 27, 2022
Amount Raised: $12,585,798
Catalyst OrthoScience

Naples, Florida, United States

Catalyst OrthoScience is an early-stage medical device company.

Health CareMedicalMedical Device
Series DOct 6, 2021
Amount Raised: $12,300,000