For most startups, AI should be viewed as a means to enhance existing offerings rather than an end in itself. Unless you’re a tech giant investing billions in developing large language models (LLMs), the focus should be on leveraging AI to solve specific business problems.

In the world of medical technology startups, few stories encapsulate the complexities of entrepreneurship and the value of strategic capital like that of Joe Rinehart, founder and CEO of Perceptive Medical. A practicing anesthesiologist turned repeat entrepreneur, Rinehart sits uniquely at the intersection of innovation and investment — not only leading a MedTech company but also serving as a Limited Partner (LP) in Cove Fund.

Southern California has emerged as a top-tier innovation hub, ranking among the top three tech ecosystems in the U.S., trailing only the Bay Area and Boston . In 2024, California startups secured nearly 49% of all U.S. venture capital funding.

In the competitive world of venture capital, understanding how firms make investment decisions can offer invaluable insights for entrepreneurs seeking funding. Cove Fund, a prominent player in the Southern California early-stage investment landscape, has developed a meticulous and collaborative approach to evaluating potential investments.

Carlsmed, a Carlsbad-based medical technology company specializing in personalized spine surgery solutions, has officially launched its initial public offering. The company plans to offer 6.7 million shares of common stock at a price range of $14 to $16 per share.

In the crowded world of seed-stage venture capital, differentiation is key. Cove Fund, based in Southern California, has carved out a unique niche by leveraging its community-driven approach, deep regional focus, and active member engagement.

At Cove Fund, we’re always scanning the horizon for promising opportunities — sectors undergoing disruption, industries ripe for change, and technologies that can deliver lasting impact. Recently, we have seen several interesting companies that have captured our attention as particularly compelling

Carlsmed, a Carlsbad-based medical device company specializing in personalized spine fusion surgery, has filed to raise up to $100 million in an IPO. It markets its AI-enabled aprevo Technology Platform, including custom implants and single-use tools for lumbar procedures. With $32 million in revenue, Carlsmed aims to become the standard of care in spine fusion. It plans to trade on the Nasdaq under the symbol CARL. BofA Securities, Goldman Sachs, and Piper Sandler are leading the offering. Pricing terms have not been disclosed.

Venture capital has always been more than just capital—it’s about people, networks, and perspective. At Cove Fund, we’ve long believed that our Limited Partners (LPs) are not only investors, but also active collaborators and invaluable contributors to our ecosystem.