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    Piper Sandler Merchant Banking logo

    Piper Sandler Merchant Banking

    Minneapolis, Minnesota, United States
    www.pipersandler.com/alternative-asset-management/merchant-bankingLinkedIn
    HealthcareEnterprise SoftwareConsumerFintech

    Piper Sandler Merchant Banking (PSMB) is the growth equity investment arm of Piper Sandler Companies, seeking investments in private, commercial-stage businesses with strong growth prospects. The group focuses on equity and equity-linked securities, recapitalizations, secondary stock purchases, and change of control transactions across healthcare, technology, consumer, and tech-enabled business services sectors.

    58% of their portfolio is in Healthcare. They made 1 investment in the last 12 months. Average disclosed round size is $63.3M (across 12 rounds with reported amounts).

    Find people at Piper Sandler Merchant Banking on Goldilocks AI

    Portfolio

    9

    Fund Size

    $130M

    Top Stage

    Series C

    Last 12 Mo

    1

    Team

    RR

    Robert Rinek

    Managing Director and Partner

    SH

    Seth Harward

    Managing Director

    TC

    Ted Christianson

    Managing Director

    TA

    Toby AuWerter

    Managing Director

    SL

    Scott LaRue

    Investment Committee Member

    Portfolio Breakdown

    Stage Distribution

    Sector Distribution

    Investment Activity

    DealsAvg Round Size

    Portfolio

    12 investments
    CompanyRoundAmountDate
    CCereVasc, Inc.Series C$85MJun 2026
    CCereVasc, Inc.Series C$85MJan 2026
    Scientia Vascular logoScientia VascularGrowth$14MSep 2024
    Integrity Orthopaedics, Inc. logoIntegrity Orthopaedics, Inc.Series B$20.6MApr 2024
    Apkudo logoApkudoSeries C$37.5MFeb 2023
    Elligo Health Research logoElligo Health ResearchSeries E$135MSep 2021
    Elligo logoElligoSeries E$135MSep 2021
    Elligo Health Research logoElligo Health ResearchSeries E$135MJan 2021
    Infinicept logoInfiniceptGrowth$23MJan 2020
    Integrity Orthopaedics, Inc. logoIntegrity Orthopaedics, Inc.Series B$20.6M—
    Graylog, Inc. logoGraylog, Inc.Growth$39M—
    Moxe logoMoxeSeries B$30M—

    Top Co-Investors

    Noro-Moseley Partners3 shared
    Morgan Stanley Expansion Capital3 shared
    Ally Bridge Group3 shared
    Norwest Venture Partners3 shared
    MissionOG2 shared
    Harbert Growth Partners2 shared
    Medtronic2 shared
    Perceptive Xontogeny Venture Fund2 shared
    Bain Capital Life Sciences2 shared
    Lavrock Ventures1 shared
    Grotech Ventures1 shared
    In-Q-Tel1 shared
    undisclosed existing investor1 shared
    Perceptive Advisors1 shared
    Mercury Fund1 shared
    Crosslink Capital1 shared
    SLW1 shared
    High-Tech Gründerfonds1 shared
    Draper Associates1 shared
    Integr8d Capital1 shared

    Last updated: 20 October 2026